These reported numbers reflect the period under the previous board (year end 2017, the board resigned in Jan 2018). We have no idea what the current board have in mind, other than talk about 'streamlining' to one asset. Even then they say they will drill exploration around the field - which so far hasn't worked, and other than that have zero growth plan - so it's a declining asset.
Chatchai is about to lose everything to Mubadala who have him by the short n curlies in the arbitration court in Singapore. How he extracts value out of TAP - which will be his last oil asset - remains to be seen. But I don't like the idea of sitting alongside him in his efforts to extract value. To date he's pissed away all the money he made on the Manora discovery.
TAP Price at posting:
5.6¢ Sentiment: Hold Disclosure: Held
