TAP appears to be significantly undervalued on both an asset basis and also low PE forecast. As per the company's latest presentation the near term catalysts are: Near-Term Catalysts -Evaluation of TL/2 and TP/7 appraisal well, Taunton-5/5H -Evaluation of WA-49-R appraisal well, Bianchi-1 -Evaluation of wildcat well in Offshore Accra Contract Area in Ghana, Starfish-1 -Ongoing construction progress at Manora Oil Development
TAP rose 2c today to 58c on good volume. Surprised to see so few commenting on this stock of late given TAP's potential.
TAP Price at posting:
58.0¢ Sentiment: Buy Disclosure: Held