I think I’ve called this right. FAR has been trying to sell its stake for a couple of years....NO TAKERS. Late in the day they’ve tried to raise finance.....NO TAKERS YET. PE business....A DESPERATE BLUFF. License now under threat. Woody’s carefully assembled ready to award contracts unravelling as validities time out. Two possible ways out. ONE. Woody and CNE proceed. Senegal approves the FDP. Woody cash calls JV. FAR can’t pay and calls in the receivers. TWO. Woody asks Senegal for a 12 month extension to allow for arbitration resolution and JV finance. Senegal agrees. FAR and CNE shares crash. What a disaster. No wonder FAR now below 5c and further to fall.
News: FAR Woodside would consider increasing stake in Senegal oil field - CEO, page-54
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Last
51.5¢ |
Change
0.025(5.10%) |
Mkt cap ! $47.59M | |||
| Open | High | Low | Value | Volume |
| 48.0¢ | 52.5¢ | 48.0¢ | $164.4K | 328.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 28930 | 48.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 51.5¢ | 9744 | 1 |
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| Last trade - 15.55pm 27/06/2024 (20 minute delay) ? |
| FAR (ASX) Chart |