Key points from AGM, page-43

First 43 Last

Share
Profile

Follow
cujo

13,293 Posts.

1234

31/05/18

09:10

Post #: 33393064
Share

Originally posted by Oddoneout ↑

That’s a great pick-up, Szaba. I’ve not seen FAR question the very mechanics of COP’s ‘company sale’. Their clear inference is that COP back-engineered an asset sale to dress it up as a company sale, providing for Coleman’s ‘you can’t PE a company’ claim.

Hope you took my dig in good spirit. I do understand your argument, but we’ve all flogged the topic to death so much that I’m just over it.

Whisky, I checked my notes and Cath definitely said FAR’s share of SNE development costs would be $US400 million. Perhaps I misheard the overall cost; I thought she said $US2 billion but did not write it down.

A few other snippets:

> The Chairman said FAR ‘constantly maintains an independent valuation of the Company’. ‘We’re not here to protect our jobs; we want the best value for shareholders.’

> Cath pointed to the ‘huge latent value’ FAR has already locked in, with 100 million barrels of 2C in the ground in SNE carrying an NPV of $US10. (There’s a billion US, or $AUD1.3 billion locked in at seventy bucks - or 23 cents per share.)

> Djiferre is dead and buried - no prospects worth drilling.

> FAR would prefer Petronas to develop the Samo field.

> Cath sounded upbeat about Guinea Bissau. The Atum prospect is on a proven play type and has a best estimate of 471 million barrels. The FAR/Svenska JV is currently farming down with an intention to drill a well in 2020. Cath hopes to release news this year.

> Not sure what will happen with Erin’s 20% share of A2/A5. Erin Gambia is not part of the Chapter 11 filing and FAR is playing it very cool. ‘The US does not like to see companies making grabs for licences; it wants to see creditors looked after.’ There is no downside for us in Erin’s predicament. Nor are there any PE rights for us, by the way (he said to a collective sigh of relief).

OOO

Expand

Djiferre dead and buried?
No prospects worth drilling after the best million dollars spent?
Cant say I have seen any announcements about that.
Anyone bother to ask about where the 3D is?
Have FAR withdrawn from the permit?
Has FAR informed the other party Djiferre is a dud?
So all that excitement generated by the company and the cheer squad was fake news?

FAR Price at posting: 8.8¢ Sentiment: None Disclosure: Not Held
3 Upvote

0 Great analysis

Reply

Top Stories

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

BTH

Bigtincan bounces 9% after $409M merger proposal sets stage for Nasdaq listing

WTC

A sex scandal is unlikely to hurt Australia's tech crown jewel – just look at trades

Superannuation Essentials: Building Wealth for Your Retirement

KAU

Kaiser Reef sets up $8M capital raising to boost expansion at A1 gold mine

There are more pages in this discussion • 131 more messages in this thread...

First 43 Last

Add FAR (ASX) to my watchlist

(20min delay)
Last 50.0¢		Change -0.020(3.85%)		Mkt cap ! $46.20M

Open	High	Low	Value	Volume
50.5¢	50.5¢	50.0¢	$92.88K	185.3K

Buyers (Bids)

No.	Vol.	Price($)
1	24313	50.0¢

Sellers (Offers)

Price($)	Vol.	No.
50.5¢	3919	2

View Market Depth

No.	Vol.	Price($)
1	24313	0.500
3	74793	0.495
1	5000	0.490
2	92553	0.470
1	3000	0.445

Price($)	Vol.	No.
0.505	3919	2
0.515	20356	3
0.520	556606	12
0.525	19005	2
0.530	1005	1

Last trade - 16.10pm 21/10/2024 (20 minute delay)

FAR (ASX) Chart

Key points from AGM, page-43

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Bigtincan bounces 9% after $409M merger proposal sets stage for Nasdaq listing

A sex scandal is unlikely to hurt Australia's tech crown jewel – just look at trades

Superannuation Essentials: Building Wealth for Your Retirement

Kaiser Reef sets up $8M capital raising to boost expansion at A1 gold mine

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Key points from AGM, page-43

Top Stories

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Bigtincan bounces 9% after $409M merger proposal sets stage for Nasdaq listing

A sex scandal is unlikely to hurt Australia's tech crown jewel – just look at trades

Superannuation Essentials: Building Wealth for Your Retirement

Kaiser Reef sets up $8M capital raising to boost expansion at A1 gold mine

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News