TAP 0.00% 7.8¢ tap oil limited

institutional over hang

  1. SCD
    3,438 Posts.
    TAP has had two sigificant, successful discoveries and one insignificant (1 mmbbls) failure of late. With a considerable drilling programme ahead, no debt, rapidly increasing cash generation from production at Woollybutt and Harriet...can anyone suggest why an institution selling it position so heavily at this time? The Stock was at 1.70 and was sold down to 1.53. It has bounced to 1.60. The stock was restrained to 1.60 +/- 0 cents despite the reported oil/gas discovery today.
 
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