Agree that the CR is to do with the drilling cost overruns....
I worked out at the time of the Rig Maintenance that Far would have a little over $7million in the bank...once the $12million is paid for the farmin and over $24plus undisclosed overruns wash through...
that $8million raised for Kenya is committed already...and Gone down the drill hole..
Far better to top up whilst U have a discovery and at higher price...
just normal small cap oily behavour...
5to 10years qouted to get to production....Far needs lots of cash...
Kenya is expected to start a drilling program in 2015 ....
this means that both Far and Pcl must bring in substancial amounts of cash......
dyor
Ann: Trading Halt, page-61
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Mkt cap ! $46.20M | |||
| Open | High | Low | Value | Volume |
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