Hi Cobyau, Yep, an update to sooth the nerves of investors. Of note to me is the extract sentence which reads:
"With the very encouraging Sunbird-1 well results, FAR anticipates strong industry interest in its L6 farm out opportunity."
It merely states "anticipates" as opposed to "having received strong interest" or "continuing to receive...".
Makes me wonder whether there had in fact been any movement or progress on the L6 offshore farm-out. It talks about FAR's "farm out opportunity" which suggests its all still out there in the market for anyone to enter the fray because there is none around the table as we speak.
Of course, this interpretation strongly conflict with a much earlier post of mine where I eluded to the fact that L6 farmout was probably already negotiated but waiting on the Sunbird drill results. As such, and reading this, I am a bit dissapointed because the extract does not suggest that anything material has progressed on the L6 farmout.
FAR Price at posting:
4.1¢ Sentiment: Hold Disclosure: Held
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