I guess one has to look at which one has a bigger chance of at least doubling your money, assuming a discovery for FAR.
The way I look at is I get 80c back, assuming the vote passes, so I'm paying 50c a share which is about half cash backing.
Will it drop to that level straight after the 80c back or will the Stena Icemax, which has moved off the well head by the looks, be on its way to The Gambia?? which should...hopefully see some buying pressure ?????.
So pay 50c wait for drilling pump....maybe $2 ~$200 million MC nice return or hold and a discovery say $4 ~ $400 million not impossible IMO.
The target to FAR is ~560 mmbbls......a 200 mmbbl find would see FAR with more than it had with SNE, has lots of info from a commercial oil field next door and 2 wells drilled in The Gambia.
Still massive risk but it has to be said its way lower than just about any other drill going on atm that I know about. If someone else has a better 1 feel free to tip it here!
Given I know nothing about PCL acreage or likely hood of a farm out or what % they have I better not comment all I know is if you can divorce yourself, which seem impossible for some, from the past IMO FAR looks a pretty good bet which I have taken.
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1 | 24313 | 50.0¢ |
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3 | 74793 | 0.495 |
1 | 5000 | 0.490 |
2 | 92553 | 0.470 |
1 | 3000 | 0.445 |
Price($) | Vol. | No. |
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0.505 | 3919 | 2 |
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