TAP 0.00% 7.8¢ tap oil limited

From the Quarterly :-...

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    From the Quarterly :-

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    Based on the current maximum available amount, the borrowing base debt facility is fully drawn.

    The Company is in advanced discussions with BNP Paribas and Siam Commercial Bank regarding a review of its existing borrowing base debt facility to adjust to the recent oil market developments, the decreases in forecast net cash flows from Manora and in the Company’s borrowing base under the debt facility. The Company is pro-actively pursuing a number of measures (including costs savings, deferral of expenditure and asset sales) in order to fund corporate and exploration activities in 2015.
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    I guess the aforementioned sums up the problem with the share price currently.
    None of their assets are attractive to buyers - Yep, coopec that includes all the gas leases !
    I have suggested monetising the gas contracts but other than that don't see a simple way out of their cash flow bind. Of course, there is always the Capital Raising option !

    Chatchai obviously believes that the oil price will recover quickly - if that is the case, I think that he will continue with the takeover.
 
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Currently unlisted public company.

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