FAR

0.00%

50.5¢ far limited

Ann: Change in substantial holding, page-17

First 17 Last

Share
Profile

Follow
greenhawk

762 Posts.

629

14/12/18

12:27

Post #: 36860019
Share

Originally posted by Oddoneout ↑

Lot of talk about what WPL or CNOOC might do, but what about Petronas?

The Malaysians stumped up $45 million (wasn't it?) on what turned out to be ... well, we're still not quite sure what Samo turned out to be. Not quite a duster, it seems. 'Oil shows', said FAR. 'Oil shows at different intervals' according to reportage elsewhere. The well provided 'valuable information', according to FAR (they all say that when drilling a duster, don't they!) and maybe it will turn out to be the key to unlocking the oil migration secret. One thing all seem to agree on is that the West African source rocks are prolific enough to have generated multi-billions of barrels of oil - we've just got to find where it's gone.

But back to Petronas.

It's difficult to see them departing stage left, is it not? Having been convinced enough by FAR's geological analysis to stump up the cost of Samo, they will surely be at FAR's side for the post-well washup and the 'next steps' that emerge from that. I surely would if I'd pissed $45 million up against the wall ... or down a deep hole in this case. There's a fair chance Petronas will be part of FAR's next exploratory venture - assuming that is on a Gambian block (no certainty).

As for Meridian continuing to buy ... why wouldn't you! FAR is currently valued at less than $AUD400 million and yet has circa 130 million barrels of oil fully appraised, with around 30 million about to become reserves. By any reasonable assessment, FAR is heftily undervalued at seven cents. Base case to me looks more like 10 cents.

Ah well, another Christmas without a present. Getting used to them by now.

PS: Changed my sentiment from None back to Buy to reflect my comments above.

OOO

Expand

“There’s a fair chance Petronas will be part of FAR's next exploratory venture - assuming that is on a Gambian block (no certainty).”

I’d say there’s a very good chance Petronas will tag along for the ride, OOO. NostraFARmus sees a further farm-down (to Petronas or a third party) on A2/A5 after the Erin matter is resolved and a single exploration well booked for Q419. The GB farm-out is still ongoing but IMO we are unlikely to see Atum drilled until 2020.

It’s good to see you reacquainted with a ‘buy’ sentiment - does Mrs. OOO know about this?

gh.

FAR Price at posting: 6.8¢ Sentiment: Buy Disclosure: Held
12 Upvote

1 Great analysis

Reply

Top Stories

WGX

Westgold sets its sights on top five producer status through merger with Karora

DVP

Commodity house Trafigura funds Develop Global's copper-zinc Woodlawn play with offtake deal in place

MGU

Collaboration in a green (steel) future the focus for Magnum and Saudi partners

NXG

Cost blow-out for Rook I uranium project sees share plummet for NexGen

GRX

GreenX picks up prospective copper project in Germany

VMT

Vmoto sales plummet -50% YoY as weak demand in Europe & China stifles EV scooter sales growth

Week 31 Wrap: JORC rules to get tougher; RBA rate hike chance 50/50; US Fed Sept cut still the quo

BOE

Uranium prices on the NYMEX are stable, but ASX uranium stocks are sinking on Friday. The answer lies in Kazakhstan

Is oil undervalued?

VMS

Venture to sniff out high-grade REE targets at Jupiter project, WA

There are more pages in this discussion • 17 more messages in this thread...

First 17 Last

Add FAR (ASX) to my watchlist

(20min delay)
Last 50.5¢		Change 0.000(0.00%)		Mkt cap ! $46.66M

Open	High	Low	Value	Volume
51.5¢	51.5¢	50.5¢	$97.33K	190.2K

Buyers (Bids)

No.	Vol.	Price($)
2	26752	50.5¢

Sellers (Offers)

Price($)	Vol.	No.
52.0¢	109917	4

View Market Depth

No.	Vol.	Price($)
2	42668	0.500
2	29755	0.485
4	113930	0.480
2	70000	0.475
2	78150	0.470

Price($)	Vol.	No.
0.520	109917	4
0.525	60000	2
0.530	60000	2
0.535	115000	3
0.540	131187	5

Last trade - 15.45pm 02/08/2024 (20 minute delay)

FAR (ASX) Chart

Ann: Change in substantial holding, page-17

Westgold sets its sights on top five producer status through merger with Karora

Commodity house Trafigura funds Develop Global's copper-zinc Woodlawn play with offtake deal in place

Collaboration in a green (steel) future the focus for Magnum and Saudi partners

Cost blow-out for Rook I uranium project sees share plummet for NexGen

GreenX picks up prospective copper project in Germany

Vmoto sales plummet -50% YoY as weak demand in Europe & China stifles EV scooter sales growth

Week 31 Wrap: JORC rules to get tougher; RBA rate hike chance 50/50; US Fed Sept cut still the quo

Uranium prices on the NYMEX are stable, but ASX uranium stocks are sinking on Friday. The answer lies in Kazakhstan

Is oil undervalued?

Venture to sniff out high-grade REE targets at Jupiter project, WA

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Ann: Change in substantial holding, page-17

Top Stories

Westgold sets its sights on top five producer status through merger with Karora

Commodity house Trafigura funds Develop Global's copper-zinc Woodlawn play with offtake deal in place

Collaboration in a green (steel) future the focus for Magnum and Saudi partners

Cost blow-out for Rook I uranium project sees share plummet for NexGen

GreenX picks up prospective copper project in Germany

Vmoto sales plummet -50% YoY as weak demand in Europe & China stifles EV scooter sales growth

Week 31 Wrap: JORC rules to get tougher; RBA rate hike chance 50/50; US Fed Sept cut still the quo

Uranium prices on the NYMEX are stable, but ASX uranium stocks are sinking on Friday. The answer lies in Kazakhstan

Is oil undervalued?

Venture to sniff out high-grade REE targets at Jupiter project, WA

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News