$11,000 investment could yield $1m

I'm expecting some news very soon, once we see price movement backed by vol...its time to add more positions as this is a sign of smart or informed money!

Irrespective of any news, this is a great buy at current price...1 billion barrels of potential OIL is worth $70 Billion, so 90% of it is work $63Billion and current mkt cap of far is less than

Massive Potential Provides Speculative Opportunity. The potential of FAR’s Senegal acreage is massive, with over 1 billion barrels of recoverable oil identified from several prospects. Based on the shelf edge prospect, which has a mean estimated in place resource of 1,128 million barrels of oil, we estimate that a discovery could be worth $9b in gross terms. 20% of this would represent a return on investment in FAR of 90X (i.e. an $11,000 investment could yield $1m).

Tullow Oil Plc has recently announced a 100% exploration success record for its acreage in Ghana and Uganda, located in the same West African oil margin as Senegal. 17 discoveries were reported and resources upgraded by 800 million barrels of oil equivalent. Recent trading in shares of Karoon Gas Limited (“Karoon”) and Methanol Australia Ltd (“MEO”), has seen potential gains of 30% for Karoon and 150% for MEO. This shows that speculative investment in companies with large exploration potential can yield good returns. On this basis, we recommend First Australian Resources Ltd as a Speculative Buy.

Source: http://www.far.com.au/files/research/Hartleys%20Research%2023Jan09.pdf