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clock Created with Sketch. 17/10/14
20:07
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Originally posted by plugged
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Well a cashed up FAR with a bill boe discovery in the bank can't be a bad thing. A cashed up FAR with a 1-2 bill + discovery would be a better thing. As I've posted after previous FAR's CR's IMO if a minnow like FAR wants to play with the big boys they need cash - lots of it.. This CR is no different except for the fact that all previous CR's have now delivered the FAN 1 discovery and this CR is to ensure that FAR capitalise to the max on their current decision. I've read posts suggesting FAR should do a deal with CP where they retain 10% and take some cash. Personally if Senegal is a big as all the indicators point to I would rather have FAR retain their 15% at the expense of a few million shares. Whats 3 bill shares when you already have 2.7 bill. If Senegal does live up to several Bill boe's then a few cents dilution now will be nothing compared to the end result, where as to sell off 33% of Senegal would have been a huge chunk at the other end. I know we are all talking about saving cash and moving onto Kenya but a bird in the hand is worth 2 in the bush. Senegal has delivered and Kenya is still unproven. I'd take 15% of Senegal everytime and I recall Cath saying at one time, Senegal was the jewel in crown.
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agreed. now that everyone knows whats under the ground the competition will be huge. in order to compete, they need position in the form of cash, otherwise they will get swallowed up & shat out. u can call it a classic david vs goliath scenario
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