tap the next karoon ?

  1. 11,559 Posts.
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    I have been a holder of TAP for almost a year now .I bought because i felt they were a well managed small producer with good cash backing . Also relatively small number of shares on issue and the management have not been prone to CR's and therefore no dilution. As well I was and am impressed by their exploration permits ,Carnarvon basin ,Brunei and their SC-41 permits off the coast of Borneo .I have travelled extensively in Borneo and throughout Java and in fact have been living here in Indonesia for more than 10 years .In 1996 about 20 kilometers south of Sandakan in Malaysian Borneo i observed both oil and gas seeps .I saw locals cooking on gas fires in small holes they'd dug in the ground . In July this year I conveyed that annecdotal information to Mr Peter Stickland in an email .
    Considering the exploration program they have planned for next year i have a feeling that WA 351 ,block M in Brunei or SC-41 could result in a substantial discovery of a size similar to Karoon this year and a resultant sharp increase in the shareprice . i think when Exxon release the results from their current drilling next door everyone will be stunned at it's size .By the way the new lease TAP has just picked up in west Java is also highly prospective IMHO.
 
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