To Tap or not to Tap, page-74

Tap was valued in 2016 at 10c per share when cash reserves were almost nil and with restorations included.That would equate to north of 16c.

The average price for both Chatchai and Rissco exceeds 16c.

Rissco are not doing this for nothing.
I'm going to enjoy this ride.

The lazy balance sheet will be made to work harder, potentially even a cash return--cash now over 4.5c per share as we speak.

They are not going to sit around the board table looking at this cash pile growing.

There will be a cash return or the board will sanction gearing of the balance sheet through the purchase of other O and G assets or the developement of Manora in a hub and spoke fashion.

This would access near field oil quickly and cheaply and further advance reserves and production.

All the while the POO creeps quietly higher.

TPA