"Yeh! Crucify the Directors and Managers. Down with them. We hate them. Crucify them! "
I felt that our comments were getting too vindictive in relation to FAR Management. Nevertheless, I can say the following:FAR management have failed to find a way to finance FAR's Sangomar commitments. Obviously Remus, Lukoil and WPL think they can. Time is about to run out and so far there is no one who trusts FAR with their money for Sangomar. That is the straightforward truth, regardless of the oil price history. When did we last get any info on The Gambia? You would think that would be an important matter for the FAR Board in the circumstances? Oh yes, some social projects in The Gambia were delivered. COVID-19 does ameliorate things to some extent, I grant. I agree that the FAR Board has failed us but the company is left in a cleft stick. Sell Sangomar to WPL for peanuts and hope for the best with The Gambia or sell the lot to someone else for a few more peanuts? This is a decision for a prophet with the wisdom of Solomon to make. By now, no shareholder is counting on FAR to give them a profit. It has effectively been a write-off for months. Hence, my personal view is that I may as well continue the speculation and continue with The Gambia and so that means flogging off Sangomar for whatever we can get, excepting by some near miracle, our Sangomar commitment is financed (not impossible, oil prices have recovered somewhat). Anyone who wants out can still sell their shares on the market once the suspension is lifted, which it will be when the Sangomar commitment is resolved.As to the Board and Managment, well, there is another day and another opportunity for the shareholders to do better.
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No. | Vol. | Price($) |
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2 | 32029 | 0.495 |
1 | 38794 | 0.475 |
1 | 42553 | 0.470 |
1 | 3000 | 0.465 |
Price($) | Vol. | No. |
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0.510 | 59301 | 2 |
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