Bricktrick, I admire your post.
Russian Roolet has been down ramping FAR for months and has alienated himself on the thread, repeating the same message day in day out, but never responding to questions around any of the comments he makes in his posts, or backing up claims.
For example he recently commented we would only receive a 10% margin on any revenues we receive, I would like to see this substantiated, how can you estimate margins on revenue a company receives at this point?
In his most recent posts - claiming FAR will be unsuccessful due to the finds being 100KM offshore, at 4KM's deep. Why does this make a company unsuccessful?, particularly when there are two finds which are deemed to be two of the larger finds in the world for 2014 and especially given they are being compared to one of the biggest finds in the region being Jubilee?
Oil cos are drilling to 12KM in ground today in commercial finds and in depths many times that of what we have got and of course many times greater than how far we are from shore. RR, how then is this an issue?
RR, you also claim we are spending $40M a quarter, this is true for the most recent quarter - however was an anomaly as we were part of a drilling programme wherein costs blew out - however the costs are being disputed with Transocean, further we are not drilling this coming quarter??, how then do you estimate $40M next qtr?
Bricktrick, as you say every speculative company has it's risks - FAR is far from a one trick pony, has a substantial amount of money in the bank, with 2 very large finds in its pocket, great partners with many leases and an amazing CEO. The Oil price is a short term issue for the company, but as in the example of Kosmos and Hardman won't be the last smallcap Oil to navigate this and be successful. Bell Potter has a speculative buy rating on the company with a price range between 33 and 77 cents.
Given RR's attempt to dislodge FAR despite many requests to back it in logic. I appreciate your nice comments around my posts and hope you see that I back what I say. I wouldn't call what I am doing an argument, moreso an opportunity for QBL holders to understand a more balanced story and see through the spurious claims of RR.
I will leave no stone unturned in examining any misstep taken by QBL in its history, with a view to exposing all risks and issues but backed with data and evidence to ensure it is not misconstrued. You can thank RR for enticing me to apply my energies to this.
Looking forward to seeing RR respond with logic to my outstanding questions and getting feedback from industry insiders around QBL and positioning a more balanced view.
With regards QBL, on first glance?
- 2 recent director resignations, the CEO and Chairman are family, with a massive amount of options and a majority shareholding?
Does this concern anyone?
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