I agree with your take on things and like to think the FAR Minnow is sailing into clear horizons.
When it comes to Senegal's potential it was always Igor Effimof's opinion that I valued most. He has always been been very optimistic about FAR's Senegal's prospects. I'm sure no one is more excited than Igor to see FAR finally drilling his most prospective 1 bill boe "Giant Buried Hill" target next year. As FAR longs remember, Igor goes back to the old FAR/Hunt Oil days and I would assume he would have had an instrumental role in helping to secure the Cairn/ConocoPhillips farmin with CN. We should also take time to give credit to Michael Evans who nurtured these Houston connections with FAR's past gas plays in the US.
As can be seen by the links below Igor's network is extensive and he has direct links with fellow directors of ConocoPhillips.
His regime is equally impressive to say the least and can be viewed here.
Link: http://www.ipcoilandgas.com/management/
If Igor is still excited about FAR's Senegal targets after such a long period then so am I. Good times ahead.
Not only is FAR free carried for 2 deep water drills next year but if African Petroleum drill the Alhamdullilah prospect offshore Gambia which overlaps into FAR's blocks FAR is effectively free carried for 3 wells. (valued at approx 250 to 300 mill usd. - not bad for a 4 cent company!)
A while back FAR was all about Kenya, but Senegal has kept me in FAR. Not that Kenya does not offer similar potential it's just that the West has major oil discoveries to the North and South of Senegal. Offshore Kenya is still in its embryonic stage, but will mature quickly upon a major discovery.
At present I have FAR WEST leading FAR EAST 3 to 0. That's not including the GB Sinapa discovery which extends the lead to 4 to 0. I'm confident Kenya will take off and then it does it really will be game on.
> James A. Edmiston 53 2005 Director, President and Chief Executive Officer
Mr. Edmiston was elected President and Chief Executive Officer of Harvest Natural Resources, Inc. on October 1, 2005. He joined the Company as Executive Vice President and Chief Operating Officer on September 1, 2004. Prior to joining Harvest, Mr. Edmiston was with Conoco and ConocoPhillips for 22 years in various management positions including President, Dubai Petroleum Company (2002-2004), a ConocoPhillips affiliate company in the United Arab Emirates and General Manager, etc
> Dr. Igor Effimoff 67 2008 Independent Director Dr. Igor Effimoff is founder and principal of a firm which provides upstream and midstream consulting services since 2005. From 2002 until 2005 he was Chief Operating Officer for Teton Petroleum Company. Between 1996 and 2001, he was President of Pennzoil Caspian Corporation, managing their interests in the Caspian Region. Between 1994 and 1996 he was the Chief Executive Officer of Larmag Energy, NV, a privately held Dutch oil and gas production company with its primary assets in the Caspian Sea. He has served in senior executive roles with Ashland Exploration Inc., Zilkha Energy Company and Kriti Exploration, Inc. Dr. Effimoff has authored numerous technical and business articles. He is a member of American Association of Petroleum Geology, the Society of Petroleum Engineers, the Society of Exploration Geophysicists and the Geological Society of America. Dr. Effimoff served on the audit and compensation committees of TrueStar Petroleum Corporation in 2007. He currently serves on the board of IPC Oil and Gas Holdings Ltd. He has a Doctorate in Geology from the University of Cincinnati and completed the Harvard Advanced Management Program.
Nice to see some signs of life sneaking back into the share price but IMO lots of upside to go.
Personally I'd like to see a Kenyan farm in announced in the near future followed by an AIM listing. IMO this would see the SP rocket given the quality of FAR's partners and holdings. Time will tell.
Cheers and all the best to all those fellow long suffering longs and the newcomers who have boarded the train at a very opportunist time and price.
Plugged
PDYOR
FAR Price at posting:
4.9¢ Sentiment: Buy Disclosure: Held
(20min delay)