Aqua,
Nice analysis for a Monday morning.
Based on the Motley Fool link you posted last week, valuations of proved and probable reserves are fetching over US$20 per barrel at the moment. So $1 target for FAR should FAN1 be commercial, is spot on, and probably on the low side, given there will be an upgrade to initial results.
Question is timing, I think it will take longer than January / February to confirm resources.
No doubt COP, Shell (or Chinese) will want to grab the 15% from FAR, though after 2 exploration wells, I don't think we'll know the total extent of the resources. If SNE1 is a gusher then we're talking blue sky and COP might act quickly to beat other vultures that might be circling. Anything is possible.
FAR is making parallels to the Jubilee field already, no doubt that is intentional...and cunning of Cath, it gets around the tight hole policy and sets expectation in the markets.
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47.5¢ |
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Mkt cap ! $43.89M |
Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
---|---|---|
2 | 18200 | 47.0¢ |
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Price($) | Vol. | No. |
---|---|---|
48.0¢ | 1800 | 1 |
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No. | Vol. | Price($) |
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1 | 10000 | 0.470 |
3 | 36924 | 0.465 |
2 | 13100 | 0.455 |
1 | 1822 | 0.450 |
1 | 50000 | 0.425 |
Price($) | Vol. | No. |
---|---|---|
0.480 | 1800 | 1 |
0.490 | 30000 | 1 |
0.495 | 50000 | 1 |
0.500 | 110000 | 2 |
0.510 | 220895 | 4 |
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