Of course absolutely I wish the share price was over $1 hardmano. FAR has $ in the bank, plenty to operate until the appraisal.
If they have a commercial find, and Conoco says we are commercialising it then the game will change. If the SP rises FAR can cap raise again at higher prices. Alternatively FAR, in my personal view, has a strong hand in negotiations. As I have said before they have the relationship with the Senegalese, not only through years of working together but also as having carried their interests. Who knows what deal they might do with Conoco.
Is it inconceivable that they could say to Conoco - take X% of our (13.7)% and pay for the development or any fraction thereof. Possibilities are endless. Conoco has relatively deep pockets. Far has the relationship - critical no doubt.
If they do not have a commercial find then its poverty. (I would be absolutely gobsmacked if this occurs given the public statements by the top brass of each of FAR, Conoco and Cairn.
But for the shareprice to have got to that hypothetical $1 who would still be holding.
The traders can do as they please - I'm not clever enough to 'day-trade'.
My holding is based entirely on what I believe from the information released by the companies and as I have no money to buy more and don't want to sell before the find is confirmed as commercial (or incredibly denied) the market may as well be closed.
But I still watch what's happening too often.
Coit
FAR Price at posting:
7.9¢ Sentiment: Buy Disclosure: Held
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