Exactly elguido, you echo my comments.
FAR may be forced into a contingency plan if the lease renewal does not arise, or the renewal comes with new terms.
They may need to raise the cash to provide well commitment to secure the leases for at least another year. At which time they can set the drill date at year end and continue to try farm-out the lease to remove the majority of the financial obligations. Success in farm-out will mean FAR are cashed up and get free ride into a 2nd NW African well in their tenements.
500 million, page-30
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48.0¢ |
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Mkt cap ! $43.43M | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
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