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Tap Oil

ASX:TAP
Snowflake Description

Flawless balance sheet and undervalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TAP
ASX
A$42M
Market Cap
  1. Home
  2. AU
  3. Energy
Company description

Tap Oil Limited operates as an independent oil and gas exploration and production company in South East Asia and Australia. The last earnings update was 20 days ago. More info.


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TAP Share Price and Events
7 Day Returns
1%
ASX:TAP
0.2%
AU Oil and Gas
0.3%
AU Market
1 Year Returns
71.9%
ASX:TAP
3.4%
AU Oil and Gas
5.2%
AU Market
TAP Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Tap Oil (TAP) 1% 1% 6.5% 71.9% 34.2% -75.5%
AU Oil and Gas 0.2% -3.5% 5.1% 3.4% 35% -32.6%
AU Market 0.3% 1% 7.2% 5.2% 19.2% 4.9%
1 Year Return vs Industry and Market
  • TAP outperformed the Oil and Gas industry which returned 3.4% over the past year.
  • TAP outperformed the Market in Australia which returned 5.2% over the past year.
Price Volatility
TAP
Industry
5yr Volatility vs Market

Value

 Is Tap Oil undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Tap Oil to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Tap Oil.

ASX:TAP Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 8.1%
Perpetual Growth Rate 10-Year AU Government Bond Rate 2.3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ASX:TAP
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AU Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.95
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.952 (1 + (1- 30%) (0%))
0.968
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.97
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.31% + (0.968 * 5.96%)
8.08%

Discounted Cash Flow Calculation for ASX:TAP using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Tap Oil is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

ASX:TAP DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.08%)
2019 10.25 Est @ -17.54% 9.48
2020 9.06 Est @ -11.59% 7.76
2021 8.39 Est @ -7.42% 6.64
2022 8.01 Est @ -4.5% 5.87
2023 7.81 Est @ -2.46% 5.30
2024 7.73 Est @ -1.02% 4.85
2025 7.73 Est @ -0.02% 4.49
2026 7.79 Est @ 0.68% 4.18
2027 7.88 Est @ 1.17% 3.91
2028 8.00 Est @ 1.51% 3.68
Present value of next 10 years cash flows $56.17
ASX:TAP DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $8.00 × (1 + 2.31%) ÷ (8.08% – 2.31%)
$141.82
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $141.82 ÷ (1 + 8.08%)10
$65.21
ASX:TAP Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $56.17 + $65.21
$121.38
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $121.38 / 425.97
$0.28
ASX:TAP Discount to Share Price
Calculation Result
Exchange Rate USD/AUD
(Reporting currency to currency of ASX:TAP)
1.395
Value per Share
(AUD)
= Value per Share in USD x Exchange Rate (USD/AUD)
= $0.28 x 1.395
A$0.4
Value per share (AUD) From above. A$0.40
Current discount Discount to share price of A$0.10
= -1 x (A$0.10 - A$0.40) / A$0.40
75.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Tap Oil is available for.
Intrinsic value
>50%
Share price is A$0.098 vs Future cash flow value of A$0.39735
Current Discount Checks
For Tap Oil to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Tap Oil's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Tap Oil's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Tap Oil's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Tap Oil's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ASX:TAP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $0.03
ASX:TAP Share Price ** ASX (2019-04-18) in AUD A$0.1
ASX:TAP Share Price converted to USD reporting currency Exchange rate (AUD/ USD) 0.717 $0.07
Australia Oil and Gas Industry PE Ratio Median Figure of 23 Publicly-Listed Oil and Gas Companies 7.88x
Australia Market PE Ratio Median Figure of 544 Publicly-Listed Companies 16.05x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Tap Oil.

ASX:TAP PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ASX:TAP Share Price ÷ EPS (both in USD)

= 0.07 ÷ 0.03

2.26x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Tap Oil is good value based on earnings compared to the AU Oil and Gas industry average.
  • Tap Oil is good value based on earnings compared to the Australia market.
Price based on expected Growth
Does Tap Oil's expected growth come at a high price?
Raw Data
ASX:TAP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 2.26x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Australia Oil and Gas Industry PEG Ratio Median Figure of 17 Publicly-Listed Oil and Gas Companies 0.25x
Australia Market PEG Ratio Median Figure of 361 Publicly-Listed Companies 1.36x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Tap Oil, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Tap Oil's assets?
Raw Data
ASX:TAP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $0.11
ASX:TAP Share Price * ASX (2019-04-18) in AUD A$0.1
ASX:TAP Share Price converted to USD reporting currency Exchange rate (AUD/ USD) 0.717 $0.07
Australia Oil and Gas Industry PB Ratio Median Figure of 144 Publicly-Listed Oil and Gas Companies 1.31x
Australia Market PB Ratio Median Figure of 1,676 Publicly-Listed Companies 1.69x
ASX:TAP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ASX:TAP Share Price ÷ Book Value per Share (both in USD)

= 0.07 ÷ 0.11

0.63x

* Primary Listing of Tap Oil.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Tap Oil is good value based on assets compared to the AU Oil and Gas industry average.
X
Value checks
We assess Tap Oil's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Tap Oil has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Tap Oil expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Tap Oil has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
4.6%
Expected Oil and Gas industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Tap Oil expected to grow at an attractive rate?
  • Unable to compare Tap Oil's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Tap Oil's earnings growth to the Australia market average as no estimate data is available.
  • Unable to compare Tap Oil's revenue growth to the Australia market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
ASX:TAP Future Growth Rates Data Sources
Data Point Source Value (per year)
Australia Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 4.6%
Australia Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 2.8%
Australia Market Earnings Growth Rate Market Cap Weighted Average 6.6%
Australia Market Revenue Growth Rate Market Cap Weighted Average 3.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ASX:TAP Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ASX:TAP Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
ASX:TAP Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 44 18 13
2018-09-30 41 19 1
2018-06-30 38 21 -11
2018-03-31 41 18 -13
2017-12-31 45 16 -15
2017-09-30 52 15 -16
2017-06-30 60 15 -17
2017-03-31 62 21 -16
2016-12-31 64 27 -15
2016-09-30 69 35 -29
2016-06-30 75 42 -43
2016-03-31 88 47 -49

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Tap Oil is high growth as no earnings estimate data is available.
  • Unable to determine if Tap Oil is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ASX:TAP Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Tap Oil Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:TAP Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
ASX:TAP Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 0.03
2018-09-30 0.00
2018-06-30 -0.03
2018-03-31 -0.03
2017-12-31 -0.03
2017-09-30 -0.04
2017-06-30 -0.04
2017-03-31 -0.04
2016-12-31 -0.04
2016-09-30 -0.09
2016-06-30 -0.15
2016-03-31 -0.19

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Tap Oil will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether Tap Oil is trading at Tap Oil'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. Tap Oil's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Energy companies here
  3. Tap Oil's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Tap Oil's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Australia market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Australia market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Tap Oil has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Tap Oil performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Tap Oil's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Tap Oil has delivered over 20% year on year earnings growth in the past 5 years.
  • Tap Oil has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Tap Oil has become profitable in the last year making it difficult to compare the AU Oil and Gas industry average.
Earnings and Revenue History
Tap Oil's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Tap Oil Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:TAP Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 44.18 13.25 2.17
2018-09-30 41.02 1.10 2.52
2018-06-30 37.85 -11.05 2.86
2018-03-31 41.31 -12.82 3.14
2017-12-31 44.77 -14.59 3.42
2017-09-30 52.21 -15.75 4.45
2017-06-30 59.64 -16.91 5.48
2017-03-31 61.66 -15.92 6.23
2016-12-31 63.68 -14.93 6.98
2016-09-30 69.22 -28.98 6.45
2016-06-30 74.75 -43.04 5.92
2016-03-31 88.39 -48.75 5.54
2015-12-31 102.03 -54.46 5.16
2015-09-30 86.17 -56.14 4.92
2015-06-30 70.31 -57.82 4.68
2015-03-31 48.43 -50.26 5.71
2014-12-31 26.55 -42.71 6.73
2014-09-30 25.48 -35.20 7.35
2014-06-30 24.30 -27.59 7.95
2014-03-31 25.32 -32.97 7.29
2013-12-31 26.12 -38.13 6.57
2013-06-30 27.64 -18.52 6.52
2013-03-31 37.32 -12.24 6.66
2012-12-31 43.10 -3.43 5.90
2012-06-30 53.26 14.01 8.41

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Tap Oil has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Tap Oil used its assets more efficiently than the AU Oil and Gas industry average last year based on Return on Assets.
  • Tap Oil has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess Tap Oil's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Tap Oil has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Tap Oil's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Tap Oil's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Tap Oil is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Tap Oil's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Tap Oil's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Tap Oil has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Tap Oil Company Filings, last reported 3 months ago.

ASX:TAP Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 47.41 0.00 21.19
2018-09-30 47.41 0.00 21.19
2018-06-30 28.65 0.00 15.26
2018-03-31 28.65 0.00 15.26
2017-12-31 32.08 0.00 7.75
2017-09-30 32.08 0.00 7.75
2017-06-30 39.26 3.43 7.27
2017-03-31 39.26 3.43 7.27
2016-12-31 45.76 8.87 6.40
2016-09-30 45.76 8.87 6.40
2016-06-30 51.29 21.23 14.42
2016-03-31 51.29 21.23 14.42
2015-12-31 56.04 36.13 15.58
2015-09-30 56.04 36.13 15.58
2015-06-30 90.92 69.50 35.64
2015-03-31 90.92 69.50 35.64
2014-12-31 107.74 64.26 14.03
2014-09-30 107.74 64.26 14.03
2014-06-30 152.92 32.18 16.83
2014-03-31 150.34 31.63 16.55
2013-12-31 151.01 0.00 38.94
2013-06-30 170.39 0.00 68.61
2013-03-31 193.73 0.00 78.01
2012-12-31 207.05 0.00 100.07
2012-06-30 210.66 0.00 110.69
  • Tap Oil has no debt.
  • Tap Oil has no debt compared to 5 years ago when it was 0.2%.
  • Tap Oil has no debt, it does not need to be covered by operating cash flow.
  • Tap Oil has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Tap Oil's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Tap Oil has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Tap Oil's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Tap Oil dividends.
If you bought A$2,000 of Tap Oil shares you are expected to receive A$0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Tap Oil's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Tap Oil's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ASX:TAP Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Australia Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 13 Stocks 4.6%
Australia Market Average Dividend Yield Market Cap Weighted Average of 417 Stocks 4.3%
Australia Minimum Threshold Dividend Yield 10th Percentile 1.6%
Australia Bottom 25% Dividend Yield 25th Percentile 2.6%
Australia Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ASX:TAP Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Tap Oil has not reported any payouts.
  • Unable to verify if Tap Oil's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Tap Oil's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Tap Oil has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Tap Oil's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.6%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Tap Oil afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Tap Oil has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Tap Oil's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
  • Tap Oil has no CEO, or we have no data on them.
Management Team

Chris Newton

TITLE
Executive Chairman
COMPENSATION
$33K

Shannon Coates

TITLE
Company Secretary
TENURE
1.7 yrs
Board of Directors Tenure

Average tenure of the Tap Oil board of directors in years:

0.6
Average Tenure
  • The average tenure for the Tap Oil board of directors is less than 3 years, this suggests a new board.
Board of Directors

Chris Newton

TITLE
Executive Chairman
COMPENSATION
$33K
TENURE
0.5 yrs

Govert Van Ek

TITLE
Independent Non-Executive Director
TENURE
1.3 yrs

Kamarudin bin Baba

TITLE
Non-Executive Director
TENURE
1.2 yrs

Zane Robert Lewis

TITLE
Independent Non-Executive Director
TENURE
0.6 yrs

Dave King

TITLE
Independent Non-Executive Director
AGE
71
TENURE
0.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (A$) Value (A$)
02. Sep 18 Buy Risco Energy Investments Pte Ltd. Company 31. Aug 18 31. Aug 18 39,331,425 A$0.09 A$3,579,137
29. Aug 18 Buy Risco Energy Investments Pte Ltd. Company 27. Aug 18 29. Aug 18 4,415,105 A$0.09 A$403,820
26. Aug 18 Buy Risco Energy Investments Pte Ltd. Company 22. Aug 18 24. Aug 18 4,283,203 A$0.09 A$388,450
21. Aug 18 Buy Risco Energy Investments Pte Ltd. Company 20. Aug 18 21. Aug 18 8,530,640 A$0.09 A$775,180
19. Aug 18 Buy Risco Energy Investments Pte Ltd. Company 14. Aug 18 17. Aug 18 7,239,910 A$0.09 A$656,785
13. Aug 18 Buy Risco Energy Investments Pte Ltd. Company 13. Aug 18 13. Aug 18 6,217,043 A$0.09 A$565,750
12. Aug 18 Buy Risco Energy Investments Pte Ltd. Company 09. Aug 18 10. Aug 18 8,321,638 A$0.09 A$762,024
X
Management checks
We assess Tap Oil's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Tap Oil has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

One Thing To Consider Before Buying Tap Oil Limited (ASX:TAP)

Generally, an investor should consider two types of risk that impact the market value of TAP. … The other type of risk, which cannot be diversified away, is market risk. … Every stock in the market is exposed to this risk, which arises from macroeconomic factors such as economic growth and geo-political tussles just to name a few.

Simply Wall St -

Was Tap Oil Limited's (ASX:TAP) Earnings Growth Better Than The Industry's?

When Tap Oil Limited (ASX:TAP) announced its most recent earnings (31 December 2017), I did two things: looked at its past earnings track record, then look at what is happening in the industry. … See our latest analysis for Tap Oil Commentary On TAP's Past Performance I use the ‘latest twelve-month’ data, which annualizes the most recent half-year data, or in some cases, the latest annual report is already the most recent financial year data. … Each year, for the past half a decade Tap Oil's top-line has risen by 11.31% on average, implying that the company is in a high-growth period with expenses shooting ahead of revenues, leading to annual losses.

Simply Wall St -

Does Tap Oil Limited (ASX:TAP) Go Up With The Market?

A widely-used metric to measure a stock's market risk is beta, and the broad market index represents a beta value of one. … Therefore, this is a type of risk which is associated with higher beta. … TAP's fixed assets to total assets ratio of higher than 30% shows that the company uses up a big chunk of its capital on assets that are hard to scale up or down in short notice.

Simply Wall St -

Who Are The Major Shareholders In Tap Oil Limited (ASX:TAP)?

This size of ownership gives retail investors collective power in deciding on major policy decisions such as executive compensation, appointment of directors and acquisitions of businesses. … This level of ownership gives retail investors the power to sway key policy decisions such as board composition, executive compensation, and potential acquisitions. … Thus, investors should dig deeper into TAP's business relations with these companies and how it can affect shareholder returns in the long-term.Next Steps: With a low level of institutional ownership, investors in TAP need not worry about non-fundamental factors such as ownership structure causing large impact on stock prices.

Simply Wall St -

How Financially Strong Is Tap Oil Limited (ASX:TAP)?

TAP has shrunken its total debt levels in the last twelve months, from $36.1M to $8.9M – this includes both the current and long-term debt. … With this reduction in debt, the current cash and short-term investment levels stands at $6.4M for investing into the business. … On top of this, TAP has generated cash from operations of $27.4M during the same period of time, leading to an operating cash to total debt ratio of 308.34%, signalling that TAP’s operating cash is sufficient to cover its debt.

Simply Wall St -

Should You Be Content With Tap Oil Limited's (ASX:TAP) Earnings Growth?

After reading Tap Oil Limited's (ASX:TAP) latest earnings update (30 June 2017), I found it beneficial to look back at how the company has performed in the past and compare this against the most recent numbers. … See our latest analysis for Tap Oil Commentary On TAP's Past Performance I use data from the most recent 12 months, which either annualizes the most recent 6-month earnings update, or in some cases, the most recent annual report is already the latest available financial data. … Inspecting growth from a sector-level, the Australian oil and gas industry has been enduring some headwinds over the previous year, leading to an average earnings drop of -25.18%.

Simply Wall St -

Tap Oil Limited (ASX:TAP): What Does It Mean For Your Portfolio?

Every stock in the market is exposed to this risk, which arises from macroeconomic factors such as economic growth and geo-political tussles just to name a few. … Tap Oil has a beta of 1.77, which means that the percentage change in its stock value will be higher than the entire market in times of booms and busts. … A high level of beta means investors face higher risk associated with potential gains and losses driven by market movements.

Simply Wall St -

Company Info

Description

Tap Oil Limited operates as an independent oil and gas exploration and production company in South East Asia and Australia. It operates through Oil & Gas Production and Development; Oil & Gas Exploration; and Third Party Gas. The company owns a 30% interest in the G1/48 concession in Gulf of Thailand, which includes the Manora oil field. It also has interests in various exploration permits and retention leases in the Carnarvon Basin, North West Western Australia. In addition, the company purchases and sells gas. Tap Oil Limited was founded in 1995 and is based in Perth, Australia.

Details
Name: Tap Oil Limited
TAP
Exchange: ASX
Founded: 1995
A$41,744,818
425,967,534
Website: http://www.tapoil.com.au
Address: Tap Oil Limited
190 Saint Georges Terrace,
Level 2,
Perth,
Western Australia, 6000,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX TAP Ordinary Shares Australian Securities Exchange AU AUD 18. Sep 1996
OTCPK TAPO.F Ordinary Shares Pink Sheets LLC US USD 18. Sep 1996
DB TAK Ordinary Shares Deutsche Boerse AG DE EUR 18. Sep 1996
CHIA TAP Ordinary Shares Chi-X Australia AU AUD 18. Sep 1996
Number of employees
Current staff
Staff numbers
0
Tap Oil employees.
Industry
Oil and Gas Exploration and Production
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/18 10:32
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2017/02/27
Last earnings filing: 2019/03/29
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.