manlai1 you could be close.
FAR might be getting ready for the possibility that the second renewal period is not allowed and they will look to give a firm well commitment to secure the lease for another year. I remember MEO was forced to do this prior to the Petrobras farm-in. To ensure they did not breach their obligations, they raised the cash and gave a firm well commitment, while waiting for the Petrobras deal to be finalized.
FAR could well be in a similar boat and just preparing themselves for a similar situation, should it arise.
Safety first. Better to dilute the company than to lose what is deemed to be the prized asset.
500 million, page-28
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50.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $46.66M | |||
| Open | High | Low | Value | Volume |
| 50.5¢ | 50.5¢ | 50.5¢ | $2.525K | 5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 13568 | 50.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 51.0¢ | 345490 | 5 |
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| Last trade - 10.02am 01/11/2024 (20 minute delay) ? |
| FAR (ASX) Chart |