Ann: Annual Report to shareholders, page-53

Absolutely Shaba
The real problem was and is the finance.

FAR know they have a challenge they need to address. They will turn to the large investors with the clear message that they are “now in damage control”
These large investors have too much skin in the game to abandon FAR to face this problem alone. They will all realise “damage control” requires “all hands on deck” The attitude that the SP is going to look after itself should now be abandoned IMO. Perhaps a little SP support combined with a sprinkling of averaging down to minimise possible loss, is an advisable tactic under these circumstances.
Yes, we are coming from a low base but there will be allot of change over the next six months that is likely to have a positive effect on market sentiment. Shorts are about to get squeezed the first sign that the damage control process has commenced.
We are now in a cooling off period, time to focus on the repair process. Banging on about management inabilities is understandable, but that’s enough.
Let’s see if they can now repair market confidence starting with conserving capital and by example implementing reduced salaries over the next six months.
The long lead items on the critical path have been ordered, but delivery and offshore Installation can be delayed to coincide with more favourable market conditions.
Perhaps forward sales contracts closer to FID may be a possible option to ease any financial shortfall.
AIMHO