heading for the teens, page-29

A sign of great strength shown by FAR not only today but the previous few weeks. Although touching 10c and back down to 7.7c might seem significant, FAR mooves so very quickly that it is not at all significant. With the ASX down over 3%, oil down substantially and the resources/energy sector hit hard, its usually the explorers/non-producers that are hit hardest, yet FAR manages to open strong and remain in the green for a majority of the day.great sign IMO

i have no doubt whatsoever that FAR will trade >10c prior, or immediately after the announcement, and this is coming very soon, so I am taking every chance i can get to top up with this one

BigDoug, I'm not sure why FAR would announce the JV in separate parts, let alone dates. ME has said no announcement will be made until a legally binding agreement has been reached, this means the JV partner/s will be named, the terms and conditions met and agreed and future commitments be known....a later announcement regarding accurate dates for drilling and rig contracts would be expected.

the big Q is when will this ann come??

it is now MAY 17th:
-6 months & 1 weeks after ministry approval for lease
-5 months & 2 weeks after presidents decree

both of the above announcements, ME noted that FAR had entered into dialogue with previously interested parties and new oil majors.

previously in an interview, ME noted that due dilligence usually takes majors 4-6 months

So my take on this, is that given 4-6 months to undertake due diligence, we are very close. its my opinion that its probable the majors may have received the data package by FAR, recorded the necessaries, board meetings and technical teams by the majors set in place, but work beginning after christamas.

so its most likely for e.g, a tullow will have made up their mind whether they would like to expand on initial dialogue about April-June. With negotiations taking place for a few weeks and the legalities to follow, so with my calculations, its likely we can expect a JV announcement no earlier than June 1st, BUT any day after that with it being most probable that a JV has been announced by August 1st.

So by my quite conservative, yet realistic expectation, im thinkin a JV will be announced within 2 weeks, or, by as late as 8-10 weeks

now lets think about this, 8-10 weeks, being the absolute latest for an announcement, really is not that far away, this time will fly, and this is where the smarter dollars will realize, the big players dont put their money into something for it to be up in the air, int he unknown for 6-12 months, they sit and wait and accurately predict and calculate, and narrow down as best as possible, so their dollars are not tied up for as long, as we all know, time is money, so i will expect to see the SP heating up very soon

i think a key sign was today, a stinker from the xao, yet very healthy FAR, although the volume was nothing to be excited about, not many are selling, and why would you so close to an ann, which is why when the smart money starts to flow in, with so little sellers, we are going to see 10c very quickly

i hope for farties sake that the earlier of my prediction will prove correct, 2 weeks time and I will genuinely believe that any day could be that special day