NZO + TAP =future large cap oiler
Quote:
Originally Posted by
shephejame
It's a bit of a contradiction given the recent option conversion. But maybe NZO should get in there and start buying back shares. Especially at current prices.
Or even better, NZO buy PPP. Market cap of $140M. Probably $100M in the bank. Payback period on the other $40M would be within the year. DO IT!
If I was in NZO managerment I'd be running the ruler over ---TAP---------asx
current market cap-219m should take it over for 300m which if NZO sell there PRC asset for a good price say 200m + there current cash in the bank =Tap + tap 85mill
TAP Established Asset base with:
Developed Reserves - 6.5mmboe
Additional contracted gas - 5.9mmboe
Contingent resources - 26.7mmboe
Strong financial position
~A$85 million cash, no debt
~A$50 million cash flow from operations
Makes me want to buy another 100,000 NZO
Quote:
Originally Posted by
Oiler
JB... TAP is the BEST option I have heard on this thread yet. PPP to me would be a backwards move !!! PPP have lost there direction and have no forward plan etc.
TAP has a lot of potential and it is within NZO's reach.
Maybe NZO is already running the ruler over it ??? ;);)
Oiler
-Yeah thanks guys just looks such a good fit for NZO ,I just think shareholders like myself would rather their growing funds go towards more production, Reserves & permits an to me TAP would give pently of all three for a resonable amount.
-NZO could do it many ways ideally a full takeover maybe 50% in NZO shares with opts and 50% cash say 150mill leaving NZO with 150mill+ in cash to fully fund ongoing drilling
Sounds easy but I'm sure TAP holders would like more
worth checking out their site-like all there permits
http://www.tapoil.com.au/pages/permit.asp