With all the good results TAP sp is just not moving, why I am not sure - possibly the fact that TAP says it will sell all these great finds means some people see no growth - I admit after spending all these years trying find something and then just sell out, you wonder why you would bother. I understand all the arguments to sell - lead times, Capital requirements etc etc, but to me TAP seems to have a manageable % equity in these, and a BURU type financing could surely be done over time, and Manora Field keeps the revenue going to fund other activities.
Another possible reason sp is poor is that those M&G shares sitting over mkt. With such good prospects ahead that parcel has become more valuable and surely some corporate activity to find a home for them at say 75c is a reasonable possibility.
Would Apache T/O TAP - too small?? Would Apache or STO take on M&G shares and have seat on TAP board?? - numerous possibilities however what TAP has achieved to date - other oil Cos would have been re-rated by now so I just do not understand Tap's sp atm
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