Okay boys and girls, time to recap some facts for a second. Two years ago Cath Norman
went out and hired a number of key staff to become part of the overall FAR Management Team.
These are experienced people. Very experienced people. Do we honestly, really, genuinely believe that they did not see this coming? seriously? I mean for god sake, ConocoPhillips even went out and publically announced that they're selling all of their deep water assets. So do you really think FAR Management did not plan for this? did not see this coming? I mean Tim Roberts (FARJOY) was even making mention of potentially accessing funds from the World Bank and that was two years ago. Of course they would have planned for this scenario and I am confident that they would have been trying to sort out access to capital for a while - someone on here mentioned that GR mentioned at a road show that the US was out but London was still funding oil stocks (not an exact quote but it was something like that). My point is, surely this proves that this was obviously on FARs mind back then.
Lets recap 'Our Team':
Gordon Ramsay: Executive General Manager, Business Development
Mr Ramsay joined FAR in February 2015. He has over 30 years commercial and technical experience in oil and gas. This includes leading and advising on a wide range of corporate finance (debt and equity) and advisory roles in the oil & gas industry, as well as playing a key role in the discovery and development of oil and gas assets. Prior to joining FAR, Gordon was the Senior Energy Advisor, Investment Banking and Managing Director, Head of Energy Research at UBS. Gordon rated as Australia’s No. 1 energy equity research analyst at both UBS and Salomon Smith Barney (CitiGroup). He also has experience in limited recourse project finance at First National Bank (National Australia Ltd), including the refinancing of Woodside’s US$1.4bn North West Shelf project loan. Gordon is a professional geophysicist, starting his career with Gulf Canada Resources where he was responsible for several oil and gas field discoveries.
Ben Clube: Chief Operating Officer
Mr. Clube joined FAR in September 2012 as Commercial Manager and was appointed as the Chief Operating Officer in December 2014. With over 20 years of experience Ben brings senior finance executive expertise in the upstream petroleum industry. He has spent the majority of his career at BHP Petroleum and held roles across the full life cycle of exploration, development and operations. Ben has extensive experience capturing and implementing projects in the international arena. He holds a Bachelor of Science (Honours) degree in Geology and is an associate of the Institute of Chartered Accountants of England and Wales.
Peter Nicholls Exploration Manager
Mr. Nicholls is a professional geophysicist with over thirty years’ experience in oil and gas exploration and development projects with a number of companies including BHP Billiton Petroleum, Nexus Energy, Antares, Oil Search and BP Australia. Throughout his career Peter has undertaken a wide range of management and technical roles and has a proven track record of identifying prospective areas, working up prospects, and finding commercial fields. He has previously managed exploration teams operating offshore permits and wells. Peter brings extensive exploration experience in a wide variety of geological settings to FAR Limited.
Catherine Norman Managing Director
Ms. Norman is a professional geophysicist who has twenty years’ experience in the mineral and oil & gas exploration industry, having held executive positions both in Australia and in the UK and carried out operating assignments in Europe, Africa, the Middle East and Australia. She has a strong background in the application of traditional and innovating geophysical technologies in the search for oil and gas and in new business development. Cath served as the Managing Director of Flow Energy for 6 years.
Does this seriously sound like a group of people that didn't see the possibility of a company purchasing Conocos Assets even after Conoco said 'we're going to exit deepwater' ???
Do Your Own Research. This is all my opinion.
Ele.
FAR Price at posting:
8.2¢ Sentiment: Hold Disclosure: Held
(20min delay)