When the field is deemed commercial, COP take operatorship and Cairn sell down part of their 40% share (as they have a lot going on & cant afford 40% capex). When this happens FAR oh boy let the fireworks begin.
1) FAR will first get look thru valuation. Currently now our market cap suggests $3 per barrel. I suspect Cairn will sell part of their % for minimum $8 per barrel +, this would mean we are min 2x from here. people suggest even $10 is cheap in this environment. lets be conservative with $8.
2) what I think will be the bigger picture is that whoever buys Cairns % sell down will also buy FARs %.
therefore whoever says FAR is too small for a major, well as a stand alone your right. But when Cairn sell a % + FAR = very very interesting for a WPL / Major or whoever.....
Please understand Cairn cannot afford 40% of capex, they will sell part of this.
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Last
52.0¢ |
Change
0.015(2.97%) |
Mkt cap ! $48.05M |
Open | High | Low | Value | Volume |
50.5¢ | 52.0¢ | 50.5¢ | $17.38K | 33.92K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 10000 | 51.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
52.0¢ | 96060 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 46081 | 0.505 |
2 | 70000 | 0.500 |
4 | 83693 | 0.495 |
1 | 5000 | 0.490 |
2 | 92553 | 0.470 |
Price($) | Vol. | No. |
---|---|---|
0.520 | 96060 | 2 |
0.525 | 19005 | 2 |
0.530 | 1005 | 1 |
0.550 | 27285 | 2 |
0.555 | 10000 | 1 |
Last trade - 14.33pm 18/10/2024 (20 minute delay) ? |
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