Going by memory only, TAP has significant franking credits? Should TAP become profitable enough down the track to pay dividends, it would be in my mind a sensible decision to reward shareholders. As for a buy back, TAP could elect to purchase on market? Should Manora prove to be as profitable as anticipated, TAP will not only be able to fund a reasonable exploration program, but also be in a position to potentially pay dividends. Speculating here, should there ever be a sale of its WA gas assets, then such a possibility would open up even more options..
TAP Price at posting:
48.0¢ Sentiment: LT Buy Disclosure: Held
