TAP - Tap Oil

[mime]

What do you guys think?

I bought them @ $1.9 a share and still waiting for them to do something big. From what I've read about them they sound pretty good. And there is always demand for energy.

 

[The Barbarian Investor]

Re: TAP Oil

Hi Mime,

I like TAP OIL and would expect them to go to around $3.00 over time; i dont hold any but was looking at buying in at around $2.07 not long ago with a Stop Loss of $1.50.

On my watchlist now

 

[GreatPig]

Re: TAP Oil

From a purely charting point of view, to me it looks like it might be forming a small double top, which could signal a short term fall.

And when you look at the longer-term view, it's quite high above its longer-term trend line.

While of course I have no idea what it is going to do, I would say there's a fair chance of it falling in the short term.

As usual, should you or any of your associates be injured or killed... oops, wrong disclaimer... I mean, this is only my opinion and should not be taken as any sort of advice or recommendation.

Cheers,
GP

 

[brerwallabi]

Re: TAP Oil

GP you called it right, a pick up here in the low $1.70s next week if falls that low could prove a very astute buy I share Barb's sentiments on this, $3.00 eventually. Hope you have not bought yet Barbarian, anyway if you have dont panic.

 

[britishcarfreak]

Well it looks like you guys were all right on your forecasts back in mid 2005.

BUT - look at it now. It's come back down and has formed some kind of a support at about $2.25. Given its recent go at testing the mid 2.20's I wonder if this is a signal to buy or whether it's going to settle down.

What do people think?

It's currently below it's 200day average, it's tested the lower support, relative strength has turned up and it's gone through and back up from the bottom of a 20day price channel.

I feel inclined to buy some.

 

[nizar]

As an alternative to TAP....

have a look at AWE and see how many projects coming into production this year. Look at top20 shareholders, plus director topped up with 900k shares in december...

 

[mime]

Does anyone know why this stock is underpreforming comparing to other energy stocks?

 

[Profitseeker]

Fat Prophets recommended this one.

 

[Profitseeker]

Here it is.

Tap Oil - The Cattle Dog
FAT262, 18 Jan, 2006
The Pound
Printer Friendly


WEEKLY CHART




Tap Oil (TAP) has established a solid production base on
Western Australia's North West Shelf and is looking to expand
its exploration and production interests in New Zealand. The
company is a high quality mid-cap oil producer, with an
enviable track record of profitability and exploration
success. Tap has aggressive exploration activities in place,
comprising an extensive well-drilling program that is aimed at
significantly increasing its reserves position.
Financially, the company is generating strong cash flow from
robust oil prices, maintains a cash position of close to $100
million and has no debt. Adding to the bullish outlook is the
fact that Tap is highly leveraged to the oil price with
minimal hedging in place. With investors having significant
exploration exposure through its drilling program, upside
potential remains.

 

[mime]

I thought it looked like a great stock too but its preformance is very lackluster

 

[mime]

Ok guys does anyone know what's up with this stock?? All the other energy stocks are moving forward and this on is sitting still. Is there something I'm missing?

 

[rub92me]

Ok guys does anyone know what's up with this stock?? All the other energy stocks are moving forward and this on is sitting still. Is there something I'm missing?

My guess: Lots of punters were buying on TAP's forecasts of a very juicy Jacala-1 Exploration Well, which came up dry on 19/04. It would have conceivably jumped considerably otherwise?

 

[mime]

Thanks for the info. That would probably be the reason.

 

[kerosam]

from what i read in fat prophets' report, this year TAP is concentrating on exploration. Their best bet was Jacala which went empty. how about the rest? not worthy to put a bet on?

 

[rub92me]

Well, they have plenty of money in the bank and other wells coming on stream. Jacala could have made a significant difference but was always a bit speculative. No one knows how this stock is going to perform in the future, however ongoing strong oil prices will obviously be beneficial for them.

 

[mlennox]

looks set!

 

[mlennox]

Yogi any chance you can do a GANN study on this one?

 

[Alien]

Well I am in on this one at $1.57.

Market Cap around $245m and they have approx $100m in cash ad no debt.

With a couple of dry well results and oil on the way down i think they have been oversold well and truly.

Do your own research.

What do others think about this stock representing good value??

 

[Fab]

Personally I am back BPT

 

[mime]

Anyone know why it's stock price isn't following the same path as other energy producers? Anyone think it's a good buy?