Unfortunately that's nothing new. The additional reserves have already been booked and were taken into account by RISC in their report.
What has not been taken into account, on the other hand, is the "unexpected early water breakthrough in July" of one of the 2 new production wells. This could materially impact production.
It is a pity management didn't elaborate in the half year report, but as usual Tap is not communicating very openly. Wondering if this water breakthrough issue could be one of the reasons for the board recommendation. Maybe a stretch, but given the history of this company, nothing would surprise me.
TAP Price at posting:
9.1¢ Sentiment: None Disclosure: Unspecified
