TAP had this down as a 1 to 2 mmbo target, ie less than 240,000...

TAP had this down as a 1 to 2 mmbo target, ie less than 240,000 bo to them. Even at say A$40/bbl net to them (cheap to produce, no PRRT and quick depletion) that's A$9.6 million, or 6 cps to them. At 1 mmbo only 3cps.

Therefore not sure what today's sp fuss was abxout, perhaps the discovery triggered a view they were oversold already?

Looking at TAP's forward program they look cheap, but then looking at their last few years discoveries, and the huge exploration spend that has occurred one wonders? Anyone know much abxout the new faces in the exploration team, looks like quite a change out? Have they dealt with a symptom, scapegoat, or the cause of their poor exploration results?

I am looking at TAP closely for a post Jacala selloff, but looking like topping up ROC might be cheaper, looking at TAP again on an Amulet failure? or success.

TAP certainly look like the horse for the Canterbury basin (not just Cutter). AWE is too expensive and I suspect will still be paying into nonproducing hedges on Bassgas.

Entropylord