AUSTRALIA

Tap imbroglio rolls on

THE slow-moving face-off between Tap Oil and its major shareholder, Thai businessman Chatchai Yenbamroong, continues its stalemate, with Yenbamroong making no concrete moves to dump Tap's board, and Tap still working to recover the funds owed to it.

Haydn Black

At the same time, Tap is working to overcome its liquidity issues. The default by Northern Gulf Petroleum on the outstanding carry repayments due to Tap, a fall in revenue due to the lower oil price...

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