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Whisky49

13,429 Posts.

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31/05/17

06:52

Post #: 25004886
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Originally posted by erinne ↑

Hello Pw1961,

I had a long discussion regarding PE and to me it was crystal clear that FAR will be going to arbitration as Cath stated we have nothing to lose and everything to gain. The $1.0M dollars is nothing in the scheme of things. I wanted to be very clear in my post around PE and therefore I asked very specific questions and put the answers in my previous post. Cath & Nic were very well prepared for the PE questions and Cath had prepared and presented a PowerPoint presentation on this subject. In my opinion FAR will lodge their PE application after September, after all the expected good news has been announced to the market. As Cath & Nic said the time for negotiating with COP has come and gone, it is now only the tactical end game that needs to be played. As with any litigation you must cross the "t's" and dot the "i's" to ensure that you do not destroy your case before it even starts, and this is what FAR are doing. This game cannot be played according to the inpatient shareholders timeline as this would be disastrous for FAR's tactics. There are many knockers on this thread regarding the PE issue, but they are the ignorant ones that are hoping like hell that FAR do not PE.

All I will say is be patient fellow shareholders as the institutional holders certainly are, they can see the longer term value in FAR, but if you cannot and if you see no value in FAR then you should get out, this is all my opinion of course.

I just want to share one more topic with you all about FAR's technical capabilities, when the Cajun express had issues and the drill stem was stuck and would not release in the FAN well, who do you all think came up with the technique to release the frozen clamp ( not sure of the correct term here)???????
Well it was a FAR employee and I talked to him at the AGM, he had a similar experience in another company and this was relayed to COP and this was then relayed to the Cajun express, how's that for technical know how. COP were planning to cut the drill stem at that time, bigger does not mean smarter!!!!!!

Regards
Erinne

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"I just want to share one more topic with you all about FAR's technical capabilities, when the Cajun express had issues and the drill stem was stuck and would not release in the FAN well"

Yes it was a very narrow escape for FAR, as Cath mentioned many moons ago they were on the last attempt before having to abandon the well and re-drill it. Hard to know if FAR could have raised the money for the re-drill but if they hadn't we would have missed out on SNE and be in the knackers yard instead of sitting on a huge oilfield and endlessly discussing PE...

Cheers Whisky

FAR Price at posting: 8.0¢ Sentiment: Buy Disclosure: Held
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Last 49.5¢		Change 0.000(0.00%)		Mkt cap ! $45.74M

Open	High	Low	Value	Volume
48.5¢	49.5¢	48.5¢	$100.7K	203.5K

Buyers (Bids)

No.	Vol.	Price($)
1	89898	49.5¢

Sellers (Offers)

Price($)	Vol.	No.
50.0¢	2239	1

View Market Depth

No.	Vol.	Price($)
1	89898	0.495
2	29755	0.485
4	89930	0.480
2	70000	0.475
2	78150	0.470

Price($)	Vol.	No.
0.500	2239	1
0.505	10000	1
0.510	129688	3
0.520	79910	2
0.525	30000	1

Last trade - 15.47pm 29/07/2024 (20 minute delay)

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AGM, page-79

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AGM, page-79

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