Known as the Poynton Consortium, the group comprises former Alinta chairman John Poynton and executives Chris Indermaur, Stephen Pearce and Murray King.

The consortium recently bought about 5 million shares in Tap, or 3% of its issued stock.

Taylor conceded that the consortium requested a meeting with Tap’s board last week to discuss a proposal, but denied it was regarding a takeover offer.

“A meeting was held within days of that request, however the proposal was nothing more than a general suggestion that Tap should employ key members and provide board representation to the Poynton Consortium,” Taylor said.

“Tap’s managing director [Paul Underwood] has recently talked with a large number of institutional and retail shareholders about the approach … and contrary to comments attributed to the Poynton Consortium in the media, there is no indication of support for this group.”

He indicated that Tap had turned down Poynton’s request for board and management representation.

“It is our understanding that the members of the Poynton Consortium have no relevant experience in oil and gas exploration, development and production at all, whereas Tap’s board and management have significant relevant experience and technical expertise the sector and are well qualified to drive further growth in this specialised operating environment,” he said.