I am wondering if the role of small exploration companies has been changed since the GFC and the nationalisation of oil and gas in much of the world. Their objective should be to risk some cash, find something and sell up, shareholders who are prepared to punt and risk are not that keen on providing continuity of employment for non-performers. There is very little or no prospect of becoming another Woodside or Major when funding requirements for development are so huge. I think TAP can see that now, as sweet as it is to have a little income stream to keep salaries being paid their future should be in punting on good exploration teams and finding stuff.
TAP Price at posting:
44.5¢ Sentiment: Hold Disclosure: Held
