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TAP - Tap Oil News Story

A$0.13 -0.0  -3.7%

Last Trade - 12:03am

Sector
Energy
Size
Micro Cap
Market Cap £30.9m
Enterprise Value £6.19m
Revenue £35.0m
Position in Universe 847th / 1836

BUZZ-Australia's Tap Oil jumps as explorer hedges more Manora crude

Mon 29th April, 2019 1:52am
** Tap Oil Ltd  TAP.AX  jumps as much as 10 pct to A$0.110,
its highest level since July 2016 
    ** The oil explorer says it has hedged about 55,312 barrels
of Manora crude oil from its operations in Thailand to be lifted
between May and December  urn:newsml:reuters.com:*:nFWN2281BY
    ** The hedged amount translates to about 20 pct of the
expected Manora sales in May, and 12.5 pct of anticipated sales
volumes during July to December 
    ** Hedging agreement with BP Singapore Pte Ltd to help
protect against oil price declines below $60/bbl, but supports
exposure to price increases up to $81/bbl 
    ** Stock posts its biggest one-day pct gain since Feb-end
    ** Over 374,000 shares change hands, compared with the
30-day average of 59,256 shares 


 (Reporting by Nikhil Kurian Nainan in Bengaluru)
 ((NikhilKurian.Nainan@thomsonreuters.com; RM:
nikhilkurian.nainan.thomsonreuters.com@reuters.net; Twitter:
@NikhilKurianN))
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