No confidence in Tap's Independent Directors, page-4

Im not sure what happened at RAW.

So far at Tap only a few weak hands have sold out.

Unless Risco have huge behind closed doors share transfer agreements in place their bid has already failed.

It is going to be a very interesting Friday.
I would hope for a true value bid from an economically sound buyer that wanted control but not full ownership.

Positives are;
Low corporate costs
No debt
$20m cash ( thats what the asset strippers are looking to use to fund their bids).
Production wells
More production to come on stream
A Sept uplift
Negatives might be;
Low liquidity for small SH
reinstatement costs
Production declines
Geographical and political risks.

Are we being correctly compensated for future earnings, franking credits,cash at bank?

Well the answer is no. BUT how can we really tell with independent directors who have failed to act in SH best interests.
Knowledge is king and we have not been treated fairly.

TPA