TAP's business is pretty simple really, so to further analyse...

TAP's business is pretty simple really, so to further analyse this statement in the 2013 Financial Year Results document - "and is working on a number of options to provide further liquidity, including additional financing and monetisation of the significant value retained in its non-core assets." is a critical decision going forward".

"Monetise ......... it's non- core assets"
- sell the gas leases (Zola, Antiope, Bianchi and Tallaganda) hasn't happened yet so presumably this won't happen in the short-term
- Taunton, Prometheus, Maitland et al are also on market
- the exploration stuff has cleverly been 'optioned (Otway)' or 'carried' to some extent in the case of (Palmerston, 320P and 155P in Canning) and so presumably the coy will proceed with these.
- Thailand further exploration must surely remain (proximity to Manora).
- Canning on-shore is worth nothing atm. New Standard Energy who seem to be in the 'sweet spot' have delayed their initial scheduled drilling.

Have I missed anything of significance ?

I wonder then whether it would be possible to monetise the John Brooks gas contract !?! This could provide the necessary shortfall and going forward post-Manora, it becomes non-core as the oil revenue kicks in.