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hardmano

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26/05/15

09:51

Post #: 15349971
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Originally posted by OFL8777 ↑

If you want to know about CN body language you are wasting your time she and the Chef get paid the big bucks because they are good managers but also better sales people.
It was what I though a small gathering of holders that all seem to be well informed, CN made the same jokes as per the AGM which everyone laughed at even though they had heard/seen it before.
This is what I got out of the IP
Takeover, COP will want to take over someone, they are $100 billion dollar company that needs big projects, so they would look at FAR and CNE: with CNE you get 40% so why waste your time with FAR. CN feels very safe about a takeover at this stage
Consolidation: It would be nice to consolidate into an event that will ensure the value is retained, CN wants to canvas shareholders and is interested in what they think, but consolidation will help getting insto and when you have great assets backing the MC it should not make a difference to small shareholders
Mandurah had some very good questions: CN response was not telling, FAR are looking at new leases in the area, they are willing to drop all assets and only focus on West Africa. Flow Energy may be floated again to spin off Kenyan and Australian. CN said we know more than everyone else in the area they are strapped for cash and we see that as an opportunity of picking up more acreage in the area, i.e. we want more not less
CN and they Chef mentioned many times the rotary lie detector and they are looking forward to drilling which if, sorry when successful could mean we are drilling for years. CNE are over the top with the COS for Bellatrix at 80% CN thinks 49% but that is very very high, and they can test Bellatrix target and go deeper to see if SNE extends underneath, that would make SNE one hell of a well. So 2 SNE wells and Bellatrix but nothing is set in stone yet. FAN beer could be huge but we need to reprocess data which we will get later this year and test next year.
CR, we need a lot of cash and will do a CR that everyone can take part in as well as getting insto on board, but CN wants the SP to be higher and a success story to sell into.
Bring on the Rotary Lie Detector at $900k US a day as we are hunting SNE elephant’s sisters and brothers that are nearby
GLTA, DYOR and IHNI
OFL

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OFL

Very astute observations ... thanks. Interesting that Cath said in the Australian that she felt vulnerable but here she says she feels safe???? SNE is looking bigger and bigger. Interesting that FAR is so interested in more leases offshore Senegal and that they might spin off the other assets. I am not fussed about a consolidation as it sounds like it will be after good news year end.

H

FAR Price at posting: 10.0¢ Sentiment: Buy Disclosure: Held
9 Upvote

0 Great analysis

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