spp, page-8

Only get $5000 for each holding "name" shares are in. In my case 2, so $10k.

Like Elguido I am pretty full already cause I didn't see this coming although probably I should have? SPP represents about 10% of holdings so no big deal to average cost either way. Pssed off that I am already full because so many now getting set on the cheap on the vinegar stroke while the retailers supporting the stock on market get a sniff with little averaging value. Better some than none (hats off to management) but I would have preferred a bigger rights issue that gave the choice of major take-up to shareholders not johnny-come-lately... but them's the breaks.

Good post SC and a fair and reasonable assessment for a change. This could range trade, could drop, could spike on successful drilling or Senegal off-take, could come back but might not, especially if drill targets come up trumps then your on the outside looking in for ever:) Personal preference and investing MO. Some don't like to trade all over the shop on penny dreadfuls one doesn't fully understand chasing momentum that can easily turn around and bite you (eg CSM)!

My take is that FAR has a floor of 8c, held up during June tax loss selling, has held up during 6 week market rout and will hold up after placement. On further thinking placement is a bit early but not so bad timing. If times get tougher well hey, we have the cash locked away with $10-$15M more to come from Senegal JV. With 4 x drilling targets and JV coming up there is a good reason placement stock will stick a little better than usual because there is short-term action and the possibility of making bloody good money holding.

At the end of the day, FAR stands or falls on the success of drilling targets and JV projects so this placement will be lost in the noise soon enough. Short term pain maybe but enough time before drilling starts for weak hands to be flushed out and others to get set, ready for results.

With POO and gas looking at going higher and with a floor now commonly accepted above $100 barrel, FAR becomes a better and better risk-valued proposition even if share price goes nowhere.

goodluck holders