Thoughts??, page-18

mmbo I'm very happy with my investment in TAP and current management led by Chris. Risco have invested over $17M of their own money to gain their 40% stake, not like other managed companies that gain their interest by vendor escrowed or free issue shares.

Exploration is never a sure thing and the main operator is Mubadala Petroleum a billion dollar company, briefly and my opinion only TAP currently has around 4 years production left with more than enough current funds and future earnings to cover exploration and dividend payments and based on current limited production life would justify a 10% yield or valuation of 25 cents share, and if you are a small business with a tax rate 27.5% tax means more money to offset a fully franked 30% tax rate.

Just sit back and wait for the market to re-rate, Christmas could have been a lot better if recent exploration was successful!

http://www.mubadalapetroleum.com/