K brown....agree with everything you say. They have managed to stay focused on what they do best as a prospecting company but as far as communications with retail shareholders goes....well the jury is out on that.... they have been doing plenty of presentations year to year and at those presentations they are quite open but that doesnt stoke the market fires....
Obviously the oil price collapse didnt help and, as you correctly point out, there are some lose ends that havent been explained fully and that can leave lingering doubts.
I'm all for a takeover and, just maybe, when this little oiler has industry recognized reserves they may become a realistic takeover target....its not just SNE that underpins FARs value....I now think that the 40% of The Gambia should add another $100m into the mix. (we'll see)
For anyone that follows macro economics and have concerns with regards a global slowdown and the impact that could have on the JV's progress let me add this;
I've asked the questions a few times..."What is the likely impact on the SNE's development timeline in the event of a global downturn or recession"
This question was posed quietly and to the side of the main questions at meetings...for obvious reasons. I asked the questions of three of the team, individually and away from each other and at different presentations. There seemed to be a consensus in the replies.
Because of the favorable metrics and the national priority for the State of Senegal (supported by international funding agencies WB, IMF etc) it would be highly unlikely for the project to be shelved especially in light of the recent collapse in oil exploration/discoveries.
I tend to concur.
The recent caravans of world dignitaries (of both political and major oil company persuasions) all knocking on Macky Sall's door seem to validate this point.....(as discovered and posted by KSingh...thanks).
Cheers all
FAR Price at posting:
6.4¢ Sentiment: Buy Disclosure: Held
(20min delay)