Further to the above, and quoting from OdoubleO's report on 15/3 where it was stated: " If the seismic amplitude at Bel turns out to be the same as at SNE, FAR believes they are looking at a potential 100m oil leg." and bearing in mind that there is quite a bit of saving to date due to good drilling time by ORA, I hope and would like to believe that FAR will not follow their usual "cautious" MO to raise before the results of a critical well (Bel1/SNE4) but that they will back their "belief" and gut feeling and then go to the market after Bel1. Yes, it is a risk to take but sometime it might be necessary to trust and act in accordance with your beliefs, more so if based on credible expert knowledge. It could mean the difference between raising at 20c(?) as opposed to 10c.
I mean, what's to lose?? FAR/CNE is now certain that SNE4 will deliver. If Bel1 does not deliver but SNE4 comes in, FAR would still be able to raise at say 10c. But if Bel1 comes in, followed by SNE4, then 20c is on the cards I would think.
Thoughts on appropriate strategy re the the timing of a future CR, most welcome.
Broker upgrade coming, page-6
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Last
48.5¢ |
Change
-0.005(1.02%) |
Mkt cap ! $44.81M | |||
| Open | High | Low | Value | Volume |
| 49.0¢ | 49.0¢ | 48.5¢ | $30.20K | 61.65K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 18945 | 48.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 49.0¢ | 6324 | 1 |
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| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| FAR (ASX) Chart |