To Tap or not to Tap, page-71

Quite interesting. It did not drop anywhere near what I felt it would.

Some sales at 8.9c. There may still be life at TAP after all.

There is no doubt in my mind that Tap has a lazy balance sheet and that Risco through their inside knowledge sought to asset strip the cash.

Whereto from here?

Mostly lazy balance sheets are taken over with the cash used to fund the purchase and the future profits used to fund further asset purchases through gearing up to a sensible level.

Certainly the balance sheet of tap and its strong positive cash flow could fund a considerable war chest.

It would be wise in the very volatile oil and gas industry to err on the conservative side though.

I personally believe the POO will continue to rise.

As to the future, I would hope that Risco work hard to realise for all SH what they sought to realise for themselves.

I would hope that the BOD gears up the balance sheet and buys reserves sensibly off cash strapped explorers.

TPA