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028 GMT [Dow Jones] Morgan Stanley starts oil and gas explorer FAR (FAR.AU) at overweight with a A$0.12/share price target, saying the company appears to be in the right place-- Senegal--at the right time. FAR is part of a group that includes ConocoPhillips (COP) and Cairn Energy (CNE.LN) that made two very large offshore oil discoveries in 2014 and are now focused on appraisal drilling. Their SNE-1 discovery is estimated to contain 330 million barrels of recoverable oil, but Morgan Stanley thinks this could increase depending on appraisal drilling results. "We expect a number of important catalysts over the next six months and its exposure to a world-class oil development is unique in the Australian market given the total size of the oil resource," Morgan Stanley says. "If the base-case resource size is proven, development economics will be robust at lower oil prices." FAR last traded at A$0.07. ([email protected]; @dwinningWSJ)
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Last
48.5¢ |
Change
0.005(1.04%) |
Mkt cap ! $44.81M |
Open | High | Low | Value | Volume |
48.5¢ | 48.5¢ | 48.5¢ | $10.11K | 20.85K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 99195 | 48.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
49.5¢ | 2000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 89195 | 0.485 |
2 | 150000 | 0.480 |
1 | 100000 | 0.475 |
1 | 100000 | 0.470 |
1 | 23142 | 0.460 |
Price($) | Vol. | No. |
---|---|---|
0.500 | 35200 | 2 |
0.505 | 18000 | 1 |
0.510 | 12672 | 1 |
0.515 | 120000 | 2 |
0.520 | 149917 | 3 |
Last trade - 11.19am 09/08/2024 (20 minute delay) ? |
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