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TAP - Tap Oil

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On my radar again at current shareprice. They still have a good cash position and regular income from gas and oil sales. They really need a solid new discovery in the next 6 months though. Fingers crossed for (initially) Brunei.
 


Hi folks,

TAP ..... it has been a while, since this one has surfaced on the radar.

..... it has not had any news this month and technically, it looks primed
for a run up, soon ... ???

Updated TAP chart, attached below and expect TAP to be booming,
around 17022010 ...

have a great day

paul



=====
 

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  • TAPupdate20032009.pdf
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No posts about TAP Oil since March?
Is this an unloved stock???

I'm really trying to decide whether to get into TAP or OEX Oilex.
Would like to have an oiler as a short-term play.
 
Tapoil (TAP) bull or bear on monday?

Tapoil (TAP) is currently in a trading halt which ended friday close
so come monday should i blow my life savings?

They are aquiring some company in thailand

(this is where i reference the article, but cause I dont eminate enuff 'cool' the forum wont let me)


What does this 1 for 2 mean? is this good or bad or neutral?

Eligible Retail Shareholders will be invited to participate in the 1 for 2 Retail Entitlement Offer on the same terms as the Institutional Entitlement Offer. The Retail Entitlement Offer may raise up to A$32 million. The Retail Entitlement Offer will open on Thursday, 21 October 2010 and close at 5.00pm (Perth time) on Monday, 8 November 2010.


Half yearly report

$66 mill cash and no debt,(sounds good) i didnt bother to read the whole thing, its 31 pages. but I really like what they did with the bullet points and the bold, personally i would have chosen a font such as 'Silian Rail'.

(this is where i reference another article, but cause I dont eminate enuff 'cool' the forum wont let me)
 
Here's the latest release to the ASX.

http://www.asx.com.au/asxpdf/20101015/pdf/31t4zyy0xx2nlz.pdf

Shareholders will be able to subscribe for one for every two shares currently held. The price isn't specified yet but will be the same as that at which the institutions successfully tendered for their part of the issue.

An interesting feature, which is becoming fairly common these days, is that holders may apply for more than their entitlement if they wish. Expect heavy scaling back if the offer/price looks attractive.

Note that the period that the offer is open is quite short.

I havn't held TAP for several years - and not very successfully then - so I don't offer an opinion on the merits of either the company or the issue.
 
TAP - TAP Oil Limited

Can't find a thread dedicated to this one, so here we go.

Have been watching this one churn for the past couple months. Looking for a break of this congestion zone (possible accumulation) on healthy volume and a test/no supply for entry. Would also consider taking a spring or shakeout of this current low for a punt on it heading back to the highs of the range.

This was released today Tap Increases Its Interest in WA-351-P. Not that I take much notice of the news.
 

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jumped this week from 80c to $1: was underrated IMHO before and moving toward more realistic value.
I do hold...
 
who else is following TAP ?
Big announcement today after trading halt
Market did not even react . I thought it was real goody but who listens to me.
The followers of TAP - could you please throw some light if the big discovery of gas has any relevance for market upside ?
What is wrong with TAP ?
 
When you look at the announcement:To date the well has intersected over 100m of gas bearing sandstone (true vertical thickness)
I would think that is significant & over the past few weeks I have noticed that there have been quite a few single purchases over 100,000 units. I have recently purchased & will hold as the take up of WA-351 also looks compelling!
 

thanks for the encouragement. Market dived down again today. Who could predict it
 
Wow this announcement is fantastic!!!!!!!!!!!!!!!!!!!!!!!!

They have quoted an upper range of 2 TCF.

Which, for TAP's 10% share is equal to 40c/share, if you use 50c per Mscf (industry standard).
 
Chief Wigam said:
Wow this announcement is fantastic!!!!!!!!!!!!!!!!!!!!!!!!

They have quoted an upper range of 2 TCF.

Which, for TAP's 10% share is equal to 40c/share, if you use 50c per Mscf (industry standard).
Click to expand...

Chief

Can you please throw some more light for the dummies to understand your calculation /
Cheers
 
This recent price drop is temporary, surely. Zola is worth at least 40c to TAP and yet the share price has retracted close to where it was before the announcement.

Zola will surely be factored into the share price soon when the market wakes up.

Miner, just saw your post; here is the calc:

if you use 50c per Mcf , then 2 TCF = $1,000,000,000.

TAP share is 10%, so $100,000,000

TAP's curent market cap is $220 million at 91c, so 100/220 = 0.45

So 91c x 0.45 = 0.41c
 

Thanks a lot
 
This recent price drop is temporary, surely. Zola is worth at least 40c to TAP and yet the share price has retracted
Click to expand...

I think the market is right to take a cautious view towards Zola at this early stage. After all, TAP said the discovery could be at the upper range of 1-2 TF. (My emphasis)

TA-wise, TAP's not a buy yet for me while the downtrend continues and RS remains weak.

 
Hartleys have done a valuation on WA-388-P and have stated :

"Oilex has identified several prospects ranging in size, up to 2.8 trillion cubic feet of gas. An 8.4% working interest in a successful discovery of 2.8 trillion cubic feet of gas would result in 235 billion cubic feet of gas net to Oilex. Using a conservative valuation of $0.50 per thousand cubic feet implies a value of A$117m or 53cps for Oilex. This does not include the potential of any associated liquids or the likelihood of additional discoveries from the other numerous prospects on the block."

See the announcement in late November. It seems this is currently going unnoticed by the market. Probably a good time to accumulate.
 
"The Intelligent Investor has a speculative buy on tap up to $1.05, and a hold up to $1.50

I think that is a fairly good assessment. Plenty of upside here."
 
Chief Wigam said:
"The Intelligent Investor has a speculative buy on tap up to $1.05, and a hold up to $1.50

I think that is a fairly good assessment. Plenty of upside here."
Click to expand...
On the other side, today's candle may resemble a bottom reversal doji, just as the one on the 3rd did. I took the follow-through on the 4th and 5th as invitation to buy, only to be stopped out a day later. Won't risk the same mistake a second time. And the way Crude (mis-)behaves tonight, I'm not holding my breath for "this time it's different..."

 
Quote from Intelligent Investor:

"According to management, Zola holds reserves at the larger end of pre-drill estimates. But even at 1Tcf it would be worth about 44c per share. A 2Tcf discovery could be worth more than 60 cents. If Zola turns out to be commercial, it will be a genuine company changer that bodes well for other prospective areas in the exploration portfolio."
 
Hi Chief.

There's a few "coulds" and "ifs" there but the reality is that meanwhile, TAP just isn't a Buy, technically speaking.

Plenty of time to buy them once the SP downtrend reverses.

 
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