They won't have problems refinancing, as the best option for the financier to keep financing.
TAP can pay the bills even at $US50 oil, but he base just needs to be re-set for the decline in oil price revenues. It's not unexpected, I thought they were going to have debt problems in the short term. What they need is the oil price to go up to $US60+ then there are no problems.
There is a great revenue stream just around the corner, if TAP can keep Northern at bay and work through the next 3 moths whilst oil is low. But unfortunately Northern can smell a wounded animal, and we may not get that chance.
TAP Price at posting:
37.5¢ Sentiment: Buy Disclosure: Held
