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TAP 35.0¢

Ann: 2011 Full-Year Financial Results Conf. Call

  1. ASX News

    80,782 posts.
    • Release Date: 29/02/12 20:14
    • Summary: 2011 Full-Year Financial Results Conf. Call Presentation
    • Price Sensitive: No
    • Download Document
  2. onshow

    7,059 posts.
    re: Ann: 2011 Full-Year Financial Results Con...

    Hmmmmm Doesnt look good at all,

    Sales revenue: DOWN 13%
    Oil and gass production: DOWN 27%
    Gross profit: DOWN 16%
    Cash balance: DOWN 17%

    No wonder why no one has commented on it yet, theres not much positive in that report to talk about.

    Problem explains why they keep acting like a realestate agent and keep selling off their assets. Got to keep the company running some how.

  3. andracorr

    261 posts.
    re: Ann: 2011 Full-Year Financial Results Con...

    In my opinion a bargain at this price.
    Stake in Zola alone could be worth more than its market capitalization.
    Legal issues have been transfered with the sale of Harriet.
    If drilling is going smoothly we should see a solid green day tommorow.

  4. JGPM

    4,001 posts.
    re: Ann: 2011 Full-Year Financial Results Con...

    TAP has a pullback in an otherwise strong uptrend, and onshow shows his face again. classic!

  5. dleb

    914 posts.
    re: Ann: 2011 Full-Year Financial Results Con...

    Welcome back onshow ,you must be shorting today ?

  6. onshow

    7,059 posts.
    re: Ann: 2011 Full-Year Financial Results Con...

    JGPM just pointing out some very important figures that the company has released that no one has commented on for various well known reasons.

    Seems although on this thread any negative news is shrugged off and not talked about (rose coloured glasses maybe??).

    They are some very poor figures and should send alarm bells through those invested here.

    Just calling it how i see it so no need to get your knickers in a knot!

  7. onshow

    7,059 posts.
    re: Ann: 2011 Full-Year Financial Results Con...

    dleb all my short positions on TAP are closed atm. Its served me very well shorting TAP it hasnt disappointed me yet!

  8. onshow

    7,059 posts.
    re: Ann: 2011 Full-Year Financial Results Con...

    Its a bit of a worry when revenue is down yet your receving $116/bbl appossed to $85/bbl the previous FY.

    Thats an extra $31/bbl yet revenue still down? This tells you one thing, asset production is slowing down considerably which may be a reason why they continue to sell assets to keep the company running??

  9. JGPM

    4,001 posts.
    re: Ann: 2011 Full-Year Financial Results Con...

    onshow, the results are backward looking. market normally look 12-18 months ahead, at which time there will be significant growth in TAP profit and revenues, not to mention the blue sky this year from some great drill targets.

    Those assets that have been in decline have now been sold and all legal liability taken off the table.

  10. onshow

    7,059 posts.
    re: Ann: 2011 Full-Year Financial Results Con...

    So in other words those producing assets that are in decline have been sold so we should see an even larger fall in revenue now that prosucing assets have been sold.

    Alot of hope is being put on the drill bit to come up with the goods.

    A bit like going to the casino a putting it all on black!

  11. JGPM

    4,001 posts.
    re: Ann: 2011 Full-Year Financial Results Con...

    the profits from Manora will start to flow in about 18 months time and I am pretty sure the market will look towards that. The shareprice was getting belted due to legal issues as stated by you and now these are out of the way, the price is getting back to fair value and should start to price in the future revenues of Manora etc. The drill is just an added bonus if it comes off.

  12. onshow

    7,059 posts.
    re: Ann: 2011 Full-Year Financial Results Con...

    JGPM well said and hope it turns out that way for you, i have my doubts but only time will tell i guess.

  13. J8

    7,476 posts.
    re: Ann: 2011 Full-Year Financial Results Con...

    Onshow , you show up after the fact as usual with your claims of shorts . 78c was predicted by GO and is a good entry for what TAP have on offer . They have changed their modus operandi .... if you have not noticed .

    Thinking about ACCRA .....

  14. re: Ann: 2011 Full-Year Financial Results Con...

    Onshow.

    Good to see you back posting. Excellent shorting on your behalf at around 85 cents.


    I assume we are both on a good little profit at the moment! I nearly lost my nerve, but held.

    What price do you think Tappy will fall too? Back to around the 60 cents in the short term!

  15. onshow

    7,059 posts.
    re: Ann: 2011 Full-Year Financial Results Con...

    BeecherGreed good to see you didnt lose your nerve and held strong, it was never going to hold those inflatted prices.

    Just looking at the chart and can see some support around the 73 cent mark so that would be my first target and then possibly 60 cents.

    Wouldnt surprise me to see it back there soon after that poor full years report.

  16. re: Ann: 2011 Full-Year Financial Results Con...

    Happy to be on the short side at the moment...

    Will wait and watch the trending around the 73 cents.

  17. OzAlien

    387 posts.
    re: Ann: 2011 Full-Year Financial Results Con...

    Brave shorting at the moment with tallaganda drilling. Making good progress on drill currently at 2070m.

    Zola sale, Accra farm out, manora development and further exploration all upcoming events for TAP re-rating.

  18. J8

    7,476 posts.
    re: Ann: 2011 Full-Year Financial Results Con...

    Bounced off 78c as predicted by GO .

    73c looks like a no show .




  19. onshow

    7,059 posts.
    re: Ann: 2011 Full-Year Financial Results Con...

    J8 it hit 77 cent yesterday so both your post and GO are wrong!

  20. west2

    1,066 posts.
    re: Ann: 2011 Full-Year Financial Results Con...

    couldn't resist buying yesterday - price should move forward today

    we are in the middle of drilling a significant target, so next few weeks should be exciting!

  21. onshow

    7,059 posts.
    re: Ann: 2011 Full-Year Financial Results Con...

    West2 your a brave man, the share price is pretty much in limbo atm, your putting alot of hope on that drill bit to find something!

    What if its a duster? Back to 50 cents, 40 cents??

    Dont forget big drop in revenues aswell lately.

  22. OzAlien

    387 posts.
    re: Ann: 2011 Full-Year Financial Results Con...

    I think the risk/reward ratio is actually quite good. Good COS 60%.

    If it is a duster TAP have their existing cash reserves, Manora upcoming and offshore Accra farm out. Not to mention existing income from Gas Sales Agreement.

    Your suggestion of a reduction to 40-50c would mean the market values TAP less than it's cash holding. If it reaches these prices I will be buying a lot.

    New CEO has been doing a great transformation job which gives me more confidence in holding.

  23. andracorr

    261 posts.
    re: Ann: 2011 Full-Year Financial Results Con...

    The biggest drop this company has is in risk.
    The risk of losing in a long drawn out legal battle has been eliminated.
    Tap will soon have 100 million in cash.
    Share in Zola may be worth more than its market capitilisation.
    Manora set to go into production in 2014.
    Drilling at Tallanda has a high probability of success.
    In my opinion only a fool would be shorting this stock.
    Market may be waking up to the probability that this is seriously undervalued.

  24. tongaface

    421 posts.
    re: Ann: 2011 Full-Year Financial Results Con...

    Tallaganda-1 has a 65% chance of success, if you were going to speculate on a well this would be the one. Since when are exploration wells billed as having such a high probability? Hardly ever. Why did BHP and Apache pay a ridiculous amount of money to farm in? Because its a high impact well with a relatively high chance of success. My little birdies tell me that both BHP and Apache are lightly pencilling this in as LNG feed for the numerous expansions projects planned. I would not want to be caught short if this hits gas.

  25. eccoi

    1,563 posts.
    re: Ann: 2011 Full-Year Financial Results Con...

    From where I stand shorting this is a brave move indeed, but then again its the brave moves that often prove to be right ones ...

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