A capital raising seems like a possibility if they can't sell some assets shortly: "As a result of cost overruns and schedule delays on the Manora oil development, coupled with additional drilling and unplanned work as part of the 2013 exploration program, the Company requires additional temporary liquidity ahead of the expected May 2014 draw-down of the Manora debt facility and anticipated commencement of production at Manora in August 2014. As at the date of this report Tap has drawn down the CBA $20m corporate facility 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."
TAP Price at posting:
43.5¢ Sentiment: LT Buy Disclosure: Held