Garry I understand your concern and would also like to holding...

Garry I understand your concern and would also like to holding FAR with a lot smaller share registery. I bought some FAR shares years ago when the was only 100 mill shares on offer.

Difference was back than FAR was holding 5 & 10% stakes in small gas drill in the US. Sure the registery has grown but now FAR are one of the largest holders of WA offshore blocks with multi mill & bill boe targets.

Success at any of these 500 mill + boe targets, given FARs large percentage interests in their bloacks has the potential to take the SP above 50 cents even with the increased shareholder base. This is based on the strong price of crude and diminishing targets to drill in the world with large targets.

Below is an extract from an old old post I posted years ago on another West African sale when oil was only around $40 p/b

Cheers

PDYOR

"The article below shows CNOOC paid $1.3 mill USD (1.45 mill AUD approx) for a 20 % stake in Angola block 32 (1.5 bill boe). Note oil was only $40 per barrel when they paid this!"



Link: http://moneymorning.com/2009/07/21/china-africa-energy/
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July 21, 2009 China Tightens Grip on Africa's Energy Resources with Stake in Offshore Field
By Jason Simpkins, Managing Editor, Money Morning
By Jason Simpkins
Managing Editor
Money Morning

CNOOC Ltd. (NYSE ADR: CEO) and Sinopec Corp. (NYSE ADR: SHI) have agreed to buy a 20% stake in an oil field off the shore of Angola for $1.3 billion, illustrating China’s persistent attempts to acquire resources for its economic expansion at a time of weakness for many Western oil majors.

CNOOC and Sinopec will form a 50-50 joint venture to buy the stake in the so-called Angola Block 32, which has 12 previously announced discoveries. The Chinese energy giants purchased the stake from U.S.-based Marathon Oil Corp. (NYSE: MRO), but the sale is still subject to government and regulatory approval.

Marathon’s existing partners in the block – France’s Total SA (NYSE ADR: TOT), Portugal’s Galp Energia SGPS SA, Exxon Mobil Corp. (NYSE: XOM), and Sonangal, Angola’s state-owned oil company – have a right of first refusal. Marathon will keep a 10% interest in the block.