we are getting closer, page-9

One trick??? (LOL)

* $12.5 mill cash in the bank
* $6 mill more in receivables to come in
* Producing revenue 400k per quarter (should rise on strengthening US gas prices)
* Interests in OZ, USA, Canada & Africa

I'm at a loss why anyone would have bought in the last few weeks with no new announcements & sold again so quickly at a LOSS. Maybe a little more research & patience was needed.

With a Senegal lease extension announcement due out in a few weeks which if granted will see the SP climb (IMO) back to a more respectable level & if followed by a new JV partner in a 1 bill + boe drilling venture should have the SP back between 10 & 20 cents.

There is still a lot of IOC’s & Majors interested in African oil.

I haven't posted over the last month or so but have enjoyed reading the posts. It's no surprise to see the SP flat as FAR always runs on news.

ME has to delicately handle FAR's cash reserves at the moment as IMO the Senegal government need to see FAR in a strong financial position to grant a lease extension.

I'm pleased that the Eagle project is back on the agenda, as while I'll be extremely happy to see a lease extension, it would be great to see FAR back drilling lots of holes again soon, in other places as well as Africa.

As all long term holders know the SP has always bounced back & I'm sure it will again this time with or without Senegal. There’s 20 million reasons for it to do so!


Please DYOR