To Tap or not to Tap, page-44

Received this letter back in May.
TAP OIL LIMITED (A.C.N. 068572341) (ASX: TAP)

Thank you for your correspondence of 22 May 2018 where you have raised concerns about Risco Energy Investments (SEA) Limited manipulating the market of TAP.

ASIC values the information we receive from the public, and reports of misconduct such as yours assist us in working to build confidence in the integrity of the capital markets.

ASIC conducts an assessment of every report of misconduct we receive. The issues you have raised will receive careful consideration, and we have recorded them on our internal intelligence database.

In selecting matters for regulatory action, we consider a range of factors, including whether the misconduct report suggests any breaches of the law we administer, whether we have sufficient grounds to suspect that a breach has occurred, and whether regulatory intervention would benefit the broader community beyond the affected individuals.

Please find enclosed Information Sheet 152 Public comment which sets out the limited circumstances when we will comment publicly on our activities. These limitations are intended to protect the confidentiality of information reported to ASIC and the integrity of ASIC’s investigation and enforcement activities. For matters involving our market supervision, we are aware that any public comment may affect trading in the market, and we are committed to a fair, orderly, and transparent market.

Accordingly, ASIC does not comment on operational matters, or our assessment of information in relation to markets matters, and we are unable to provide further details

Level 7, 120 Collins Street, Melbourne VIC 3000

GPO Box 9827, Melbourne VIC 3001 DX 423 Melbourne

Telephone: +61 1300 935 075

Facsimile: +61 1300 729 000 www.asic.gov.au

about what, if any, action we may or may not take in relation to the concerns you have raised. We hope you can appreciate the reasons why we do not make such comment.

If you require any information on our role as a market supervisor, or enforcement action taken by ASIC, please visit ASIC’s website at www.asic.gov.au.

Please note that ASIC will only contact you again about your report of misconduct if we require further information or evidence to assist in our inquiries.

Yours sincerely