Looks like the markets are in for a few more hits over the coming months.
Syd - I'm with you holding FAR all the way up to and past the JV announcement.
(I too am considerably down from where I was).
I think it is possible even with the world economy stalling to a possible GFC2 the Oil price may rise when inventory figures for the US start to show reserves being affected by Gulf measures.
There is always a time lag with these measures.
The cheaper rig rates should allow a window of opportunity for a lot cheaper drilling elsewhere, some projects like Senegal and Guinea may be bought forward to capitalize on the lower rates.
You know what they say about those grey clouds.
FAR Price at posting:
6.1¢ Sentiment: Buy Disclosure: Held
