Ladies and Gent's,
A subtle title change today, rather than 'Pre-trade', we have
'Pre-takeoff', I personally think that Cath's video was excellent and a teaser as we look at "revealing the prize".
IMHO it should remove any doubt as to whether or not there is significant upside in Senegal - listen for the cues around 'designed to increase the volume of known reserves', 'Low risk appraisal programme' 'extra oil not included in the original resource estimates', 'confident of additional Oil discoveries offshore Senegal', 'high chance of success within Bellatrix... if successful (CNE POS 80%) *
upgrades the POS for other prospects', 'aim of programme to define the East and define the prospects to the North'; -
http://hotcopper.com.au/threads/senegal-drilling-video.2611683/?post_id=16139758
*I have bolded and underlined 'upgrades the POS for other prospects', remember the images below -
http://www.far.com.au/wp-content/uploads/2015/09/20150902-FAR-Good-Oil-presentation.pdf
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If SNE (given) comes in, then everything within 25KM's above 75MMBLS then effectively moves a lot closer to being commercial, this IMHO will do wonders for our overall risked volumes of Oil to FAR - not withstanding the upside of the drilling targets themselves. Below the FPSO concept with tiebacks;
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In terms of overnight trading;
We have CNE marginally down, with Brent now exceeding $53 USD, COP up 1.5% (currently);
A stack of detail around FAR here to any newcomers including broker reports;etc
https://www.dropbox.com/sh/jlogupctmqwlga5/AABNyTnm7Z7KPcQuhE8oBd--a?dl=0
CNE down 1%
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COP up 1.5%
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Brent now exceeding $53 USD
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FAR's other prospects
I have been asked a couple times around the prospects FAR has outside of Senegal, the following is my honest understanding of what this looks like with the un-risked total's of the various sections on the left in the total section below, and risked to the right. (I believe the upside in Differe could be substantial BTW). Crucially FAR is not a one resource company and I think this will become important as we move forward - providing multiple options in terms of whether we sell down Senegal to develop other leases etc, or vice-versa;
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Depth wise
A number of shares available at the mid eights, although I would speculate these sells will be removed this morning, I expect we will close at or beyond 9 cents today...
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Today's fun google fact;
Do you need to refrigerate soy sauce?
Even though the bottle says "refrigerate after opening," according to the Kikkoman website soy sauce will not spoil after opening as long as no other ingredients have been added to it. The high salt level is the reason for this. But you may begin to lose quality over time.
The Middle East - http://www.nytimes.com/2015/10/08/nytnow/latest-news-syria-kevin-mccarthy-chicago-cubs.html?_r=0
• Syria’s war, in Europe.
Western military officials are stepping up exercises and deploying logistics personnel in Eastern and Central Europe to counter Russia’s show of force in Syria.
NATO’s chief says the alliance is ready to defend Turkey, which is concerned about
Russia’s buildup and its support of Syria’s leadership.
What's next;
The good ship Athena is looking likely to mobilise this weekend, with an ANN expected Monday or Tuesday.
The drill will take 10 weeks, after which we should have some news (pre XMAS)...
I expect there to be a great deal of promotion and newsflow over the next few months and for FAR to lose its training wheels and move from being a spec with no proven assets to an organisation that meets the investment criteria of the big boys - i.e Institutional investment and or acquisition by a major.. (this will be a game-changer).
Significant upside, News post appraisal - pre Xmas, Oil recovering, the holy dollar.
GLTAH, DYOR
Don't let the capper take your shares...
Have an awesome day!!
P.S - Did I mention I thought the Video from Cath was amazing?, haha.
P.P.S - I still love you Cath!!
Courtesy -
http://www.far.com.au/wp-content/uploads/2015/09/20150902-FAR-Good-Oil-presentation.pdf (Page 21);
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