Tap Oil

Tap Oil's recently approved Manora oilfield development in Thailand should start producing oil in early 2014. Reserve estimates for the project were recently increased by 30%, with Tap’s 30% share (Asian company Pearl Oil owns the remaining 70% stake) of recovered oil rising from 6m to over 9m barrels of oil. Manora should add 4,500 barrels of oil per day to Tap’s account as production is expected to reach 15,000 barrels per day. Early cashflow is vital to Tap. While it's notoriously averse to debt, it has used debt to fund the development. Cash will also be needed to...

Tap Oil's recently approved Manora oilfield development in Thailand should start producing oil in early 2014. Reserve estimates for the project were recently increased by 30%, with Tap’s 30% share (Asian company Pearl Oil owns the remaining 70% stake) of recovered oil rising from 6m to over 9m barrels of oil.

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