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Business Description: Tap Oil Limited (TAP) is an oil and gas exploration and production company with interests in Australia, Africa and South East Asia. TAP currently focuses on the WA-351-P located in Carnarvon Basin, Western Australia.
Strategy Analysis: TAP aims to capture and drill a balanced portfolio of moderate risk, high impact exploration opportunities. These include mature production areas such as Harriet and Woollybutt where new reserves can be quickly tied to maintain cashflow and, high quality appraisal opportunities where lower risk appraisal wells are drilled. TAP retains the capital backing to fund operations.
Tap Oil reported a net loss of $3.55m for the year ended 31 December 2012. Revenues from ordinary activities were $45.9m, up 7% from last year. Basic and Diluted EPS was (1.5) cents compared to (12.0) cents last year. Net operating cash flow was $15.69m compared to $26.32m last year. No dividend was declared.
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The Age 25/05/2013 |
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The Age 25/05/2013 |
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The Age 25/05/2013 |
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The Age 25/05/2013 |
Investors are contemplating a future without support from one of the biggest drivers of the global economy in recent years - the US Federal Reserve.
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