Report : APCL Farm out to TOTAL, page-20

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joseph1652

4,852 Posts.

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03/05/17

09:13

Post #: 24429120
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Originally posted by Oddoneout ↑

Morning All

This thread brings into sharp context the real issue now confronting the FAR board - timing.

The IEA's startling claim that the World faces an oil price shock in as little as three years time must gladden the hearts of FAR shareholders, who now watch with quickening pulses as giants like Total, BP and 'our own' CNOOC begin to muscle in on the West African margin. Three years is a mere heartbeat in oil terms but seemingly an eternity for shareholders hoping for a near-term conclusion to their investment. After reading the IEA announcement, they might ask themselves a simple question: When might our board extract a better deal? when oil is 50 bucks and plentiful, or when oil cuts start to bite and the price inexorably heads for 100 bucks again?

Forget the dilution nonsense, FAR's brilliant $80m CR buys it time not only to prove up SNE and hopefully find the commercial heart of the FAN, but to edge closer to that demand/supply turning point that will signal the start of the next boom. The time pressure today is not on FAR, it is on those who seek what it has, because with every turn of the drill bit it grows in value.

Finds of this magnitude are rare and becoming rarer. I keep thinking back to that graphic showing the creation of the Atlantic Ocean during that pre-historic time in which the World's oil deposits were being formed. That resulted in a massive oil kitchen feeding the Gulf of Mexico and there is growing evidence to suggest its twin lies somewhere below the north-western African coast on which FAR is steadily growing its watery footprint. Eight-from-eight is extraordinary and a ninth success in the South FAN would surely prompt a rush of acquisitive activity from big oil. I am astonished that we managed to pick big oil's pockets and acquire two more blocks on trend with - and in one case adjacent to - SNE. For goodness sake, our JV can see those 400 series sands crossing the junction with our new block: What chance of exploration success there?

Time ticks, the drill bit whirs (does it?), bots incessantly hum out their one-pip-at-a-time tunes, and HC typewriter jockeys urge their mounts towards the takeover finish line.

I'm just not sure our Board has a finish line of any description in sight yet.

OOO

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Time is now on our side ,the longer we hold the more oil we have ,and with all the sharks circling ,the bite will get bigger ,PE or no PE the oil is there ,15% or 35% wont make to much different in the long term ,all we need is the price of oil to get higher ,then we will see a bidding war ,the hard work is done ,now its a matter of waiting ,good luck to all holder .i hope all the shorter burn well.

FAR Price at posting: 8.1¢ Sentiment: Buy Disclosure: Held
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Last 50.0¢		Change 0.000(0.00%)		Mkt cap ! $46.20M

Open	High	Low	Value	Volume
0.0¢	0.0¢	0.0¢	$0	0

Buyers (Bids)

No.	Vol.	Price($)
2	107493	50.0¢

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Price($)	Vol.	No.
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1	38794	0.475
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0.515	23257	2
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0.540	451	1
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