FAR let this one go longer than previously, this indicates to me FAR had confidence in a prior arrangement.
CNOOC may be lined up as a cornerstone investor at a premium. After all the zone of cooperation agreement with FAR has a big risk if FAR are short of funds. That risk needed to be mitigated after all the government of Guinea-Bissau are about to approve the deal on A2 / A5 so the initial payment on that will need to be paid.
Farm down on those two blocks is expected to go to CNOOC so a financial injection into FAR by CNOOC may be part of that arrangement thus helping FAR finance into future opportunities.
Cannot see VR-1 being a disappointment, news with some upside has to be announced to compliment this push for additional funds surely.
AIMO
Ann: Trading Halt, page-81
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Last
47.0¢ |
Change
0.010(2.17%) |
Mkt cap ! $43.43M | |||
| Open | High | Low | Value | Volume |
| 45.0¢ | 47.5¢ | 45.0¢ | $74.80K | 161.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 100 | 46.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 47.5¢ | 26333 | 2 |
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| Last trade - 15.58pm 12/09/2024 (20 minute delay) ? |
| FAR (ASX) Chart |