Tap Oil: Interim result 2013

The headline numbers don't look good, but look a little deeper and value starts to emerge explains Gaurav Sodhi.

As has been the case in recent years, Tap Oil’s interim result was a modest and profit free affair. Revenue fell 44% to $14m and, after including $20m in exploration write-offs, the company reported a net loss of $13.6m, compared to a profit of $3.1m last year.

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