Thank you for your response. Can I ask (seriously) how you calculated a figure of 22.5cents?
Do you believe that is the current value of FAR?
In relation to your dilution comments. I do agree that we needed to raise money and I am sure the money will be put to good use; however, you said that if we find 22% more oil then we are back to where we were pre-capital raise (or words to that affect) - I guess that's the problem I have at the moment - we 'might' find more oil and increase our reserves only to be in the same position we were in yesterday (in relation to the value of the Company / affect on the Share Price).
I do agree that currently we appear to be worth around 12.3cents and I think we are undervalued at the moment. My concern is that we will need to find another 100mbls of oil to double our current SP or alternatively see the POO hit $75 USD.
I personally think we can easily get another 100mmbls - but not for a long time, We are not even drilling A2 and A5 until the end of next year. so in 18 months we will drill - and if we find oil - there will be more exploration wells and then appraisal wells - it will drag on for years - SNE #2. So it 3 years time (given how long it has taken to get to where we are now since SNE-1 spudded) we might be in a position to add 100mmbls and therefore doubling our share price.
Am I wrong? (seriously - am I) - I hope I am! happy to here all theories - just please try and use calculations because that is what I am really interested in
thanks
ele.
FAR Price at posting:
8.4¢ Sentiment: None Disclosure: Held
(20min delay)