Autosime
So you're saying Manora is worth $80 million (33c/share) and the gas assets are worth anything between $16M and $36 M?
So Tallaganda, Zola, Bianchi-1, Rubicon/Prometheus, Maitland, Taunton and Third Party gas is worth around $25M? (The Tallaganda well alone cost Tap $12M)
On those figures you'd have to wonder why Tap (or anyone else) bothers to do further drilling.
Takeover Target, page-12
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