Australia's largest stock trading and investment forum Australia's #1 stock forum

TAP

0.00%

7.8¢ tap oil limited

Quarterly due out today, page-9

First 9 Last

Share
Profile

Follow
GJD05

318 Posts.

31/01/15

10:38

Post #: 14673532
Share

Originally posted by UZNBUZ ↑

From the Quarterly :-

------------------------------------------------------------------------------------------------------------------------------------
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.
--------------------------------------------------------------------------------------------------------------------------------------
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.

Expand

No commodity hedging, nice Troy...I guess this means we are in a stalemate. Without additional cash we can't explore, and excess cash will be going to debt amortisation...I can't see us going broke because we can cover obligations (assuming oil doesn't go any lower) but we can't do anything else. Chat chai will proceed I think, but don't expect anything more than 55c...tops.

TAP Price at posting: 37.5¢ Sentiment: None Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

SFX

Sheffield Resources achieves milestone production, shipments at Thunderbird, WA

NXM

Drilling at Bethanga shows signs of Cu-Au porphyry system for Nexus

NIM

Nimy extends sulphide targets at Mons with new anomalies identified

SS1

Sun Silver gets that drill to thrill feeling from high grade hits at Maverick Spring

ASX200 dives as inflation clocks in at 4% – higher than 3.8% consensus