A Bridge to FAR- Fair value

Far is now approaching its fair value of 6.5 cents.

More downs than ups ahead !
With almost 6 billion odd shares and a market cap of 4oo million Far is a long way from production .
Unless the price of oil increases markedly on 2021 -22 production of 30,000 bopd (FAR4.5 thousand 15%) the daily profit to FAR on $10 barrel margin is $45000 per day , $315,000 per week ,18 million per year .
To reach production more capital raisings at 7c for say an extra 2billion shares . eight billion shares then in total .Savage consolidation of say 1:50 at this stage.
On a market cap of say 400 m at 18 million profit PE of just over 20.
Eight billion shares into cap of 400 million + 5 cents.
However FAr could rise with success at Guinea where greater percentage of lease held , price of oil increase or could be taken over at say 10 cents.