How low can it go?

interesting interview: http://www.nzherald.co.nz/business/news/video.cfm?c_id=3&gal_cid=3&gallery_id=156938

Tom Petrie (as per interview) sees the absolute bottom for oil between $ 25 and $28 ... and TAP should be short term able to survive that (given their production cost of $22 for Manora). Assuming oil comes up again (none of the producers can survive the current price long term - i.e. blood will be on the floor), TAP should have a good chance to be one of the survivors.

Obviously - whether it is a buying opportunity depends on the speed of the recovery (months would be good, years - probably too late). But than - at the current SP has the whole company a market cap of $35m. Don't tell Chatchai ... he could have purchased his 18% much cheaper than he did.