Troy Hayden quoted from COMPANY INSIGHT- MD GIVES COMPANY WIDE...

Troy Hayden quoted from COMPANY INSIGHT- MD GIVES COMPANY WIDE UPDATE (ASX Announcement 20 May 2013):
"..Manora production is expected to be typical of an oil project with a short ramp up to peak production, and then a period of peak production followed by a decline. Based on the current production forecast, the economic field life is expected to be 11 years. Consequently the high cash flow generating period for the development will be the first
two to three years. During this period, Manora will produce 15,000 bbls a day (gross) which Tap has a 30% interest in.
Manora will generate significant material cash flow for Tap with the average cash flow to Tap over the first four years forecast to be approximately US$45 million per annum (based
on Tap’s mid oil prices assumptions and after all operating costs, taxes and royalties). We understand this is a fairly
unique position for a company of Tap’s size and market
capitalisation..."

MY THOUGHTS ONLY:
Average cash flow forecast of $US45 million per annum over the first four years will be great news for holders (if it all works out ok).
Hopefully, more market punters will soon realise Manora's potential and take a closer look.
TAP's current sharemarket cap, in my opinion only, reflects Manora's worth only (some could argue that even Manora's real worth is more than the current sharemarket cap).
An arguably ridiculous situation given TAP's other valuable assets (e.g. WA oil and gas assets).