The TAP November Investor Presentation indicated the following:
1) Cash at Bank $90m.
2) WA-351-P- chance of exporation success 50%- low risk.
Re 1) it does not appear that TAP has a cash flow problem.
WPL sees this permit as a good investment and ROC are trying hard to lose money as part of their strategy so TAP is intelligently increasing its stake in a low risk play IMO.
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