CGG completes seismic acquisition across FAR's WA-458-P permit, page-89

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jeremycbrowne

2,229 Posts.

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31/01/19

08:14

Post #: 37273547
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Originally posted by LNC-Link: ↑

So true Zip.

The reality is that FAR have struck black gold and have a nice handle on a 100 million barrels of the stuff (so far)...they are in the process of taking that to production. Along the way they have the usual small cap/ no producer hurdles of financing that endeavor. It's up to management to achieve that outcome and they have some solid cornerstone investors who believe management have what it takes. They hold fast.

It is also reality that they have done an incredible job of securing land on trend and managed the outstanding feat of getting an exploration drill (nominated by the oil industry as a top exploration drill to watch for 2018) completed on time and on budget and at the most favorable terms which allowed them to not only turn a profit on the drill but retain 50% of their equity of high potential leases. Fantastic.

It is also reality that FAR are sitting on a strong suite of 3D and geological knowledge in one of the world's most exciting oil frontiers, the Senegal/Gambian offshore basin. Truly valuable in the eyes of majors looking into this area.

It is also reality that the 50/50 exploration well unfortunately fell on the negative side of expectations temporarily depressing our SP. This fact has unfortunately brought out a large cohort of doomsayers with unrealistic expectations who now seem to dominate this board with their negative and disparaging posts.

Unfortunately for this board, the negative bottom feeding posts have displaced some very fine posters who had both integrity and good knowledge of the industry to share. The unrealistic posters tend to dwell on (and perhaps perpetuate) negativity as the SP finds a footing after the dry Samo well news.

To all those fellow longer term investors out there that are holding as we progress towards production (or take over) I say this. Know the negative ilk that are dominating on this forum for what they are and what they hope to achieve. It's obvious and is reinforced by the sheer quantities of unsubstantiated and pathetic claims

But try also to remember that as the JV progress through government approvals and finance we will again attract share buying. Or a possible buyout.

In the meantime, for me, it's time to step aside and let the unrealistic cohort band together and wallow in their orchestrated misery. Not much else to see here till we get REAL news.

See you all on the other side of FID.

All the best CV.

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Maybe I’m a ‘glass half full’ kind of guy but surely the difficulties and challenges FAR face are problems most oil juniors would LOVE to have?

FAR Price at posting: 5.8¢ Sentiment: Buy Disclosure: Held
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Last 49.0¢		Change 0.000(0.00%)		Mkt cap ! $44.81M

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49.0¢	49.0¢	48.5¢	$30.12K	61.49K

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CGG completes seismic acquisition across FAR's WA-458-P permit, page-89

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