Tap revealed Tuesday that to comply with the covenants under its recently renegotiated debt facility, it had implemented a range of strategies to cut costs.
As a result it has decided to divest its Australian exploration portfolio and to farm-out, defer or materially reduce its expenditure in Myanmar.
As a result of the reduced activities, Tap said its staffing requirements had changed and Troy Hayden would step down as chief executive and managing director from 1 June.
After
