sale of zola/bianchi prospects., page-152

Bacci,

May I politely ask why you continue to hold considering how disappointed you are?

I can understand how many TAP holders are concerned about the falling share price. It can be frustrating indeed!

However, I reckon that a good case can be put forward for the company as well:

1. Strong cashflow forecasts from Manora (once in production)
2. Valuable WA oil and gas assets - in my opinion, the market appears to be valuing these assets as being of little value

Wasn't it only last year, that Troy Hayden agreed to a reduction in the cash component of his remuneration to take a greater exposure to the Tap share price over the next three years via performance rights. These rights will vest if the Company’s share price exceeds certain price targets on 1 July 2016.
Clearly Troy is betting on a stronger future for TAP, otherwise why bother taking a reduction in the cash component of his salary?

I agree that down the track TAP should consider paying fully dividends or even consider a buyback when profitable again - these days the market seems to reward companies that pay dividends. This would all change of course should the company ever sell its WA oil and gas interests.
The immediate focus needs to be on bringing Manora into production - I'm very patient and can't wait for the anticipated cashflow to start coming through.

To all on here - please keep up the passionate debate. Thanks to all for participating.