"To follow up on my last post about the oversubscription but...

"To follow up on my last post about the oversubscription but lack of buying pressure it would seem apparent that what we need is an offer for the company or the assets to achieve a more meaningful valuation and share price. "

I think that's been the case for a long time H . At the moment we have on the inside looking out:

1. Investors who are in simply because they see good long term value and being in ensures there is no chance of missing a left field offer..that probably makes up the top 200 holders who now hold 70% of the Company and won't be sellers in the short term term.

2: You then have traders or shorter term holders who have numerous strategies are are in or out over shorter time frames, they would make up most of the remaining 30%.

On the outside looking in :

1: Investors who are aware this is a long project are not greatly concerned if they miss out on a left field event and are biding their time. Many won't want to be in on a high risk wildcat well but will certainly have the upcoming resource update as a likely share price mover in the back of their minds..

2: Traders who are looking for signals and can have quite a quick and often short term effect on the Shareprice.

3: large Institutions that can't invest if FAR at the moment because of their own rules and it's unlikely they will make an appearance untill FID at the earliest.

Getting the outsiders in will require a change in sentiment in the sector or a more compelling case of being undervalued at this stage and the most likely short term driver for that is the resources update in the next two months..I don't know if that will include some reserves as well but if we can get a 30-50% increase in 2C resources , which is now looking likely , it is very compelling IMO...

As for FAR delaying PE for nefarious reasons is unlikely IMO, I think what was said at the meeting about taking the time to consider all the ramifications before pulling the trigger sounds reasonable and wise ...its going to take up to another year anyway if they go ahead .

I don't believe any potential bidder would be put off by PE, more likely the opposite, what they are after is SNE , PE would just be a bonus with no downside..

Cheers Whisky