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Last A$0.25 AUD
Change Today -0.025 / -9.09%
Volume 3.6M
TAP On Other Exchanges
As of 1:47 AM 09/1/15 All times are local (Market data is delayed by at least 15 minutes).

tap oil ltd (TAP) Snapshot

Previous Close
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52 Week High
09/3/14 - A$0.70
52 Week Low
03/26/15 - A$0.22
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Current Stock Chart for TAP OIL LTD (TAP)

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tap oil ltd (TAP) Details

Tap Oil Limited engages in the exploration, development, and production of oil and gas properties in Australia and South East Asia. The company’s flagship project is the Manora oil field located in the G1/48 concession, Thailand. It is also involved in the purchase and sale of gas. The company was founded in 1995 and is headquartered in West Perth, Australia.

Founded in 1995

tap oil ltd (TAP) Top Compensated Officers

Chief Executive Officer, Managing Director, D...
Total Annual Compensation: $428.4K
Chief Financial Officer
Total Annual Compensation: $435.6K
Investor Relations & Commercial Manager
Total Annual Compensation: $295.4K
Compensation as of Fiscal Year 2014.

tap oil ltd (TAP) Key Developments

Tap Oil Limited Signs Production Sharing Contract for the Shallow Water Block M-7 in the Moattama Basin, Myanmar

Tap Oil Limited signed Production Sharing Contract (PSC) for the shallow water Block M-7 in the Moattama Basin, Myanmar, formally bringing to a close the 20 blocks awarded by the Ministry of Energy under the 2013 Myanmar Bid Round. Tap Oil owns a 95% operating interest in Block M-7 through its local unit Tap Energy (M7) Pte Ltd., with joint venture partner Smart E&P International Company Ltd. holding the remaining 5%. The PSC was signed with state-owned Myanma Oil and Gas Enterprise (MOGE) in a ceremony in Nay Pyi Taw, August 26. Under the executed PSC, the Block M-7 partners have agreed to undertake an 18 month Environmental and Social Impact Assessment (ESIA) and Study Period, followed by an option to proceed to a three-year commitment exploration work program. Block M-7, covering 5,163 square miles (13,372 square kilometers), is situated in Myanmar EUR's most prolific offshore hydrocarbon province -- the Moattama Basin, which has existing production from a number of multi-trillion cubic feet (Tcf) offshore fields. The block is located 99 miles (160 kilometers) east of the 6.5 Tcf Yadana gas field, and 43 miles (70 kilometers) north east of the 1.5 Tcf Zawtika gas field. The last PSC signed under the 2013 Bid Round before the Block M-7 agreement was between MOGE and the joint venture for deepwater Block AD-10 comprising operator Statoil ASA and partner ConocoPhillips Co. in late April. Block AD-10 is a deepwater block located off Myanmars Rakhine coast.

Tap Oil Limited Announces Management Changes

Tap Oil Limited announced the appointment of Michele Ryan as Company Secretary. Ms. Ryan will also act as General Counsel of Tap. Ms. Ryan has extensive experience in the oil and gas industry, having previously worked at HESS Oil & Gas (Malaysia) and as counsel with international law firms, based in Sydney, Hong Kong and Mongolia, specializing in energy and resources and in particular oil and gas. The company also advised that Ms. Melanie Williams has resigned as General Counsel and Company Secretary, effective 14 August 2015.

Tap Oil Ltd. Reports Audited Consolidated Earnings Results for the Year Ended December 31, 2014

Tap Oil Ltd. reported audited consolidated earnings results for the year ended December 31, 2014. For the period, the company reported revenue of USD 26,550,000 against USD 26,118,000 a year ago. Loss before tax was USD 74,590,000 against USD 38,295,000 a year ago. Loss for the year was USD 42,705,000 or 17.6 cents per basic and diluted share against USD 38,128,000 or 15.8 cents per basic and diluted share a year ago. Net cash provided by operating activities was USD 5,711,000 against USD 608,000 a year ago. Payments for property, plant and equipment was USD 86,881,000 against USD 3,667,000 a year ago. Payments for exploration assets were USD 3,852,000 against USD 43,361,000 a year ago. Payments for restoration expenditure were USD 368,000 against USD 320,000 a year ago.


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