"We will be revising our valuations of FAR in the light of the confirmation of the size of potentially recoverable resources in the upper zone of SNE-1."
The 700mbbl is RECOVERABLE not oil in place!!! I have that confirmed from FAR. So that's the same as Jubillee if it becomes reserves after appraisal. Makes the STOOIP for both wells combined somewhere around 1,500-2,000mbbl for typical 30-40% recoveries. I'm sure FAR management will be plugging that comparison to Jubilee as are Bells.
I reckon that FAR's share of that being 105mbbl may be valued by Bells anywhere from 15-30 cents, the upper price being when it is confirmed as a Contingent Resource (it is a discovered resource already just needs to be confirmed as a CR once data is analysed). Compare that to HDR's 20mbbl from Chinguetti and you might see the bigger picture!
H
FAR Price at posting:
9.5¢ Sentiment: Buy Disclosure: Held
(20min delay)