Funding, page-16

Financing projects like this for a company as small as FAR depends on leverage.
IF and when we get the commercial green light (which looks likely) then a whole lot of leverage positions change.
Firstly it will effect the SP whic in turn means a more effective position for CR, if deemed appropriate.
Secondly it will mean we have a tangible asset to negotiate with, proven oil in the ground, plus a proven new region. That will be of interest to some very big companies even beyond our JV partners.
Thirdly we have a JV set up where the dominant partner may well want to flex that dominance which could put more options on the table for FAR.
So in my mind its the commerciality that puts the pivot point under the lever. Then it's a matter of what we have at our end to negotiate with... If its elephants we will have a lot of weight to wrestle with (in our favour). If its not as big as we all hope then funding might be a problem.
I think we have a way to go to hit the big time, but things couldn't have gone much better for us to get to this point.
Every day and every event that brings us towards commerciality de risks the asset.
We are closer to the outcome that's for sure, so patience is required as well as a steady nerve, cause this baby could pop big time any day now.
And I think CN and the team are playing it superbly...
Even with the huge drop in oil price FAR looks good, so imagine how we will look if it goes commercial and the oil price goes back up.