Share
4,855 Posts.
lightbulb Created with Sketch. 567
clock Created with Sketch.
19/12/19
00:03
Share
Originally posted by mojohand:
↑
It's disingenuous to ask shareholders what they would do differently; they are shareholders, they are not management, they are not running the company. Furthermore, your observation that share price of most oil companies are shit fails to take into account than most of them have not participated in an SNE-like discovery. I have long alluded to management risk - the inability of management to parlay this substantial discovery into a return for shareholders - and my observation is being borne out as more time passes. The good old team from GOP and Flow Energy? My God, did an angel kiss them all on the arse when they got the FAR gig. We may not be paying stupid people to run the company but, in my opinion, we definitely overpaying people out of their depth in addition to a board just there to warm the seats it would appear. Some perspective.... I bought into FAR roughly the same time I bought into ORE and the contrast between the two could not be more glaring. Both started on roughly equal footing; they each had an undeveloped asset with great potential. Now look at them today. People here bitch and moan about how tough it is for FAR the "poor little minnow" dealing with the big boys. ORE when through much protracted negotiations with Toyota Tsusho and the Argentinian government and still came out with over 60% interest in Olaroz and not long back extracted over $7 a share in a placement. Sure they've had their set backs just as FAR had Kora and Samo but ORE have still prevailed. Why? Sound management and a solid diversified board? There should be more indignation among holders of this stock but holders seem to think all will be well once we start producing and the dollars roll in; that the SP will take care of itself once that happens. I've seen it all before; once we farm out to a super major the SP will re-rate, then it became once we identify drill targets the SP will re-rate, then the can was kicked further down the road with once we start drilling the SP will re-rate (BOP damage and cost over-runs notwithstanding), then it became the SP will re-rate once we drill more wells, we need to prove up the resource, then it will re-rate on reserve estimations, then this, that and the other and so on.. And all the while holders are just put through the wringer and told by others here that there are no guarantees you will make a return on your investment. Fine advice as long as you don't discover a world class asset. Once that occurs then, in my opinion, investors can expect a return. Certain posters here it seems invested there money in some altruistic gesture to assist Senegal in developing an oil industry. As Gippsland Offshore Petroleum before us we soon will go down the path of consolidation. That will re-rate the SP but it will be an illusion..... Maybe the goal is not to strive for a return to shareholders. As long as the company has a income stream then that can be the benchmark for success. No doubt there are holders who dream of dividends but that I feel is a pipe dream even after consolidation. Besides, unless you got free shares then the dividends will be only off-setting your capital loss. I would say that income will go to pay rises and to feed the perpetual exploring machine that is FAR Pty Ltd.... If they pull PE off we may have a chance at something...
Expand
Well mate ,you seem very an happy with your company So what would you do better . No you don't get payed to run the company ,but you did vote ,to keep them running the company ,I am not happy being 50% down ,but that is the way it is at the moment . I voted to for the board to keep running the company ,now i must trust my judgment,and let them do their job .