Ann: SNE North-1 exploration well discovers hydrocarbons, page-152

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mad hare

2,357 Posts.

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11/08/17

17:36

Post #: 26448378
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Originally posted by whisky49 ↑

"However, they should be judged on the whole package of FAR and one has to wonder with all the success reported whats the plan and timelines and actual deliverables. "

Yes Management should be judged on performance and that can be diveded into two main categories.
1: The Companies performance
2: The Shareprice performance

The Companies performance is something they have responsibility for and control over. The Shareprice is also their responsibility but have very little control over..in perfect times the two go hand in hand but we are not in perfect times and one is ahead of the other in better time they often get reversed.

The best judge of a Companies performance and Shareprice is against its peers in the same sector over a reasonable time frame and FAR are doing very well in comparison and you can't realistically ask for much more...you can't force people to buy your shares..

Are Management perfect...We'll I'm not and there is no good reason why they should be either...however they are doing a reasonable impersonation of it IMO

As for their general strategy it's in the Annual report , as for timelines they are there for all to see and most will be estimates and as we are in a JV some are out of our hands..

PE up to 12 months.
FID expected early 2019.
A2 drill sometime next year and farm out when it happens.
JV drilling activities between now and FID yet to be decided by the JV.
Resources upgrade, when they recieve them from RISC.
DJ when and if it happens.
Production should they go there around 2021.
Finance, far to early to to know what there requirements will be.
Latest Plan of development due this year from CNE.
Quarterlies every four months.

Expecting short term results with a longterm project is a recipe for disappointed IMO...

Cheers Whisky

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I have no short term position with FAR its not that type of play and as for expectations minimal at this stage. Saying that it would be nice to see management informing shareholders of actual milestones rather than the "sometime next year" approach - yes they are in a JV but FAR are part of the decision process and will be aware of what the plan is.

I did like the "quarterlies every four months" and he is me thinking a quarterly report was something different.

FAR Price at posting: 7.6¢ Sentiment: None Disclosure: Held
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