TAP has a current market cap of $284 million and cash of $100...

TAP has a current market cap of $284 million and cash of $100 million and no debt.

Last Quarter revenue was $18 million. Revenue will be in excess of $50 million per annum 06/07 with a lot of exploration upside 2007/08.

P/E ratios can be very misleading if not taken into account with a lot of other factors and financial info.

TAP still looks very cheap to me. Especially with US$70+ oil prices. No wonder there is takeover talk surrounding this stock.

I continue to hold.