Hi All,
Great to see the thread become sensible again. Well done to all the recent contributors, Hardmano, Homeales, HotKiwiPav, Whiskey, Cobra, Insaf, Wasa - awesome posts!, well done and thank you from all holders for your contribution.
So, looks like we have some presents about to be unwrapped soon. In best guess at order;
1. *ASX 300 induction - based on market cap and cash reserves, excluding our instability, will we make it in December?
2. Farmout of L6 to ? January
3. SNE-1 - Deadline for appraisal and plans around wells - prior to 18th Feb for appraisal plans. 77 Days from today.
4. FAN-1 - Deadline for appraisal and plans around wells - prior to 18th Feb for appraisal plans. 52 Work Days from today.
Realistically point 3 and 4 could come at any time, with Cath's update in early November saying we should see more info around the results in 4-6 weeks, I took out any updates from the list as realistically we could see a couple updates around these at any time. (Tim said we will see an update soon, months ago)..
77 days at the very outside for our major news doesn't seem like a long time to me. Anyway you look at it - we are sitting on a multi-bagger whose potential is close to being stepped up.
To fulfil my Excel addiction, I have the following table, changes I have made;
- I have adjusted the NPV of Oil against the Brent crude price by multiplying the NPV (as stated by Cath at $100 USD) of $10 and $15 for FAN-1 and SNE-1 respectively against the Brent crude as a percentage of $100. i.e NPV X .7294.
- **The exchange rate has been modified to $1.18 per $1 USD.
- Recoverability for SNE-1 at 100% per PRMS rules. FAN-1 at 35% per Tim's guidance of between 30 and 40%, realistically recoverability could be significantly higher.
- Kenya is not adjusted for post FARM out percentages, you could ignore a lot of the Orange section as it will change no doubt.
Anyway, if and when (more-so when) we see our finds redefined as commercial - anyway you look at it, 31 cents (at an adjusted per barrel oil price), is a handsome return on the bargain that is 8.6 cents per share today.
Hang in there FARITES - 77 days is not a long time / 52 work days.
*BTW, I changed ASX200 to ASX300 - obviously baby steps first.
**Something else to think about, whilst we have seen the price oil oil reduce, conversely we have seen the Aussie dollar take a bath against the USD. We are down more than 20% over the year or so. I believe that the AUD will further deteriorate against the USD over time - this means any weakness in the price of oil will be balanced against the degradation currency wise for overseas investors buying into FAR based on our currency degrading.
Enjoy all, I am as excited as ever.
To anyone sitting on the sidelines - I think FAR is an amazing buy at this pricing, with less than 77 days, or 52 work days to await significant news and surpass a whole line of catalysts.
Oil will rebound in time, notwithstanding we have easily accessible Oil in a developing nation that should be very economical to recover for a number of reasons.
Good luck to all, not long to wait. Santa might not deliver all his presents at Xmas but not by long
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50.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $47.12M |
Open | High | Low | Value | Volume |
48.5¢ | 52.0¢ | 48.5¢ | $101.7K | 200.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 42045 | 48.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
50.0¢ | 15006 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 42045 | 0.485 |
2 | 14999 | 0.480 |
1 | 10000 | 0.475 |
2 | 65000 | 0.470 |
1 | 50000 | 0.465 |
Price($) | Vol. | No. |
---|---|---|
0.500 | 15006 | 4 |
0.505 | 3100 | 1 |
0.510 | 25000 | 1 |
0.515 | 35543 | 1 |
0.520 | 276386 | 5 |
Last trade - 11.21am 04/10/2024 (20 minute delay) ? |
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