I am no psychiatrist but it seems to me you are questioning your misplaced confidence in management.
You say you bought in because of their experience in Africa where as I bought in for the asset itself.
The transition to other forms of energy will take quite awhile and with more and more countries wanting to be emission neutral by 2050 it shows how long it will take, so oil has a long way to go yet.
Getting back to management though its quite obvious you have doubts about them also which just vindicates my criticism of them.
They are not good communicators.
They live under a cone of silence.
They also make bad rushed decisions.
They never explain their actions and continually feed insiders untruths.
The folly of PE has alienated the J/V partners and held up the project and destroyed the J/V finance deal which will result in a massive debt repayment for FAR which is still not nailed down.
Now you wonder why, and not only me, shareholders are up in arms about the destruction of the value of the company.
You even say yourself you are unhappy about it all.
So I am not sure why you would get a good belly laugh over the whole debacle.
Now we still need cash to drill FAN and SNE north which will continually put the SP under pressure.
They also have grand plans to drill other wells on 2 other permits.
Yet again we have to read those announcements without any plan forward about where the money is coming from.
Obviously more dilution at lower prices.
I and others have advocated for years they should sell down a percentage to get to first oil yet management refuse to do this in their flawed wisdom.
Now with the SP at record lows FAR are vulnerable to be taken over which IMO will be a godsend to those that minimised their risk by averaging down.
The sooner it happens the better IMO as this mob have no idea.
FAR Price at posting:
2.9¢ Sentiment: Hold Disclosure: Held
(20min delay)