Lets hear from?, page-10

Hi Tony

I'm a bull - some would add a four-letter expletive to describe my posts - so I will accept your request.

My bullishness has mainly been in regard to the oilfield itself. I went early and went hard in predicting it would prove to be huge and nothing has happened since to change that view. The appraisals to date suggest a billion barrels recoverable will be a minimum.

I'm averaged at 10 cents and originally was optimistic about a 10-bagger. At that point, though, oil was a hundred bucks; today it's 40-odd. Consequently I have become less optimistic - or more realistic- about the price outcome. That's not being more negative about the asset or the Company, but merely to bow to the realism of the market: It is crap, and to expect bullish share prices is to joust at windmills. IMO we simply must adjust our expectations.

I really, really hope FAR can access the funding to pre-empt, but again being realistic, who on Earth - literally - is throwing capital at oil companies now? Correct, no one. If FAR can raise funds in this market we should all trot along to Collins Street and prostrate ourselves at their feet. It would be a real coup because as far as I can see all oil companies - COP anyone? - are in survival mode and their capital backers are in their bunkers.

All that said, I have not sold a share - in fact this week I threw more money on the roulette table. I still think we'll make money - even us 10-cent-plus brigade - but nowhere near as much as we would if oil were a hundred bucks again.

By the way, the reason for my silence is because I have nothing useful to say. I've said my piece - many times - but remain an interested reader of the forum and will comment when I think I can add value. As for the other bulls, at least one has been banned here but I know remains enthusiastic. The others I'm not sure.

Lastly, am I nervous? You bloody bet I am, but I'm equally keen for FAR to have a red-hot go here rather, if possible, rather than meekly hold on to its 15 per cent.

OOO