Many here, like myself would like to see FAR drill and find oil asap, but something to ponder over the Christmas break: Does FAR need to find oil?
The ifs:
- if Apache hit oil in L8
- if AP’s Gambia well is successful
- if the Senegal decree is granted (which FAR firmly believes will be given)
- if Svenska has good 3D data and sets firm drill dates for one or more wells in GB
If these things come to pass, we may be looking at a sp of 10x, even 15x where we are now with out any effort/cost on FARs part.
I am beginning to believe that FAR may never find oil and I think there is an argument to say that they don’t need to. As a potential take over target (which I think ME has always angled for) I would think that a sub 50c (1B’ish) FAR with loads of potential, may see it being gobbled up by one of those sharks.
With so many possibilities, 2012 is going to be one hell of a ride.
Thoughts/Comments?
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