Tap Oil starts production

No longer can Tap Oil be called an oil business that produces no oil. With the first two wells sunk at the company’s Manora oil project, off the coast of Thailand, Tap is finally a producer. Although production is currently just 9,000 barrels a day, it is expected to ramp up to 15,000 barrels a day by next year, of which 4,500 barrels a day will accrue to Tap.It is a shame that the project was delayed six months. If it had started on time, Tap could have generated a bonanza of cash flow and rapidly repaid debt with oil...

No longer can Tap Oil be called an oil business that produces no oil. With the first two wells sunk at the company’s Manora oil project, off the coast of Thailand, Tap is finally a producer. Although production is currently just 9,000 barrels a day, it is expected to ramp up to 15,000 barrels a day by next year, of which 4,500 barrels a day will accrue to Tap.

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