Re: "CNE spending USD 492.0 majority on Senegal therefore if...

First 91 Last

Share
Profile

Follow
pj

2,090 Posts.

20/01/16

13:27

Post #: 16832420
Share

Originally posted by OFL8777 ↑

Uncleart my gut instinct is telling me I'm hungry and it's time for dinner, shares ...........have no idea!

I love getting out the back of an envelope .....so lets seem how much FAR needs to spend and where it takes us?

CNE spending USD 492.0 majority on Senegal therefore if divide that by .45 (increased from 40% due to Pet free carry) total spend = $1,093USD

FAR share at 17%=USD $186 at .7 is $265 m AUD

Last time I looked we only had $83m in the bank and now need an additional $182m AUD.

WOW

Perfect logic so I must be right, or some of the North Sea spending is part of the USD $492m which is to come on line in 2017. We need to be very careful how we read these statement as we can get it very wrong!
If we had ORA drilling every day for the next 2 years at 1.2m per day (including all support vessels) that totals $876m USD which our share would be $149 USD or $213m AUD so only a $130 AUD shortfall. It's interesting to think that in two years we could spend 70% of our current market cap on drilling!!!!!!

That is a lot of drilling and how many wells can the ORA drill in two years, my guess would be about 12

Good news is CNE wouldn't be spending that money if IRR is not profitable, bad news for FAR is we need to come up with a lot of cash to stay in the game for the next two years. So will we be taken out, will the Chef get large SI or some other funding arrangement who know but that's why we are paying him the big bucks

The next step ,if we do a CR at .07c for $130m AUD then we end up with an additional 1.9b shares which takes us to 5.6b shares therefore being diluted by 34%

So we have three camps, those that believe there is no future and jumping ship now, those that think after the 3/6 well program is completed late this year we will be taken out and finally the long long long termers that think we may need to see out a few more CR and years?

Glad I didn't sell my FAR shares or give up my day job!

Time for dinner

DYOR

Expand

Re: "CNE spending USD 492.0 majority on Senegal therefore if divide that by .45 (increased from 40% due to Pet free carry) total spend = $1,093USD"

OFL - missed that one or would have responded earlier also @dangar

Please look at the report again. The US$492 is development expenditure on Catcher and Kraken UK North sea. Nothing to do with Senegal. We will be needing to raise more funds in due course to complete the appraisal program, that's well known but nothing like the amounts you are talking about here!

pj

FAR Price at posting: 7.0¢ Sentiment: None Disclosure: Held
3 Upvote

0 Great analysis

Reply

Top Stories

OCC

Orthocell shares jump on record revenues from sales of collagen bone repair devices globally

SRL

Scandium a priority metal for Sunrise as it plans feasibility update at Syerston

PL3

Patagonia looks to raise $2.15M for South American exploration and development

MSB

Mesoblast resubmits US FDA application for approval of Ryoncil in children with graft vs host disease; shares dip -4%

SPR

Spartan sniffs 126g/t gold ahead of resource upgrades at WA's Dalgaranga

There are more pages in this discussion • 6 more messages in this thread...

First 91 Last

Add FAR (ASX) to my watchlist

(20min delay)
Last 52.0¢		Change 0.000(0.00%)		Mkt cap ! $48.05M

Open	High	Low	Value	Volume
52.0¢	52.0¢	52.0¢	$1.562K	3.004K

Buyers (Bids)

No.	Vol.	Price($)
1	17440	51.5¢

Sellers (Offers)

Price($)	Vol.	No.
54.0¢	22471	1

View Market Depth

No.	Vol.	Price($)
1	17440	0.515
2	35000	0.510
2	45521	0.505
2	33878	0.500
1	30000	0.495

Price($)	Vol.	No.
0.540	22471	1
0.550	82295	3
0.600	25953	2
0.610	2000	1
0.000	0	0

Last trade - 15.41pm 09/07/2024 (20 minute delay)

FAR (ASX) Chart

Re: "CNE spending USD 492.0 majority on Senegal therefore if...

Orthocell shares jump on record revenues from sales of collagen bone repair devices globally

Scandium a priority metal for Sunrise as it plans feasibility update at Syerston

Patagonia looks to raise $2.15M for South American exploration and development

Mesoblast resubmits US FDA application for approval of Ryoncil in children with graft vs host disease; shares dip -4%

Spartan sniffs 126g/t gold ahead of resource upgrades at WA's Dalgaranga

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Re: "CNE spending USD 492.0 majority on Senegal therefore if...

Top Stories

Orthocell shares jump on record revenues from sales of collagen bone repair devices globally

Scandium a priority metal for Sunrise as it plans feasibility update at Syerston

Patagonia looks to raise $2.15M for South American exploration and development

Mesoblast resubmits US FDA application for approval of Ryoncil in children with graft vs host disease; shares dip -4%

Spartan sniffs 126g/t gold ahead of resource upgrades at WA's Dalgaranga

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News