News: FAR FAR Says Debt Financing Not Proceeding As Expected, page-24

You're dreaming. There is no way a tiny company like FAR is going to secure the funding needed for a project off the far coast of West Africa in this environment. There are so many other less risky assets that could be bought cheaply in this market. FAR's assets will be far far down the shopping list.

The worst part is FAR is already committed, the clock is ticking and they have nowhere to go. Slow clap to FAR's Dear Leader who put the company in this position. Others here had warned investors to look at her record, and if you did, you would not be surprised this where FAR ended up.


I do wonder if things would have been different if management was paid 30% of what they have earned in salary and were just issued with a truckload of stock options instead. Maybe they would not have been so cavalier with shareholder money. Yes, this the speculative high risk end of the market - which is exactly why you need leaders who can prudently manage risk. You have enough risk without having to be a cowboy about it, trying to sue your operating partners to eke out some extra money, pursuing other costly exploration opportunities (which failed) when you know you need truckloads of cash to develop your assets.

Yes, oil exploration and development with junior companies is a high risk market to invest in. Which is why good leaders who manage to get some luck and find success need to be good enough to find ways to bank at least some of it and not keep going all in because they have a massive ego and they're drawing a salary with little hard earned personal $$$ at stake.