Bell Potter Analyst Mark II

BP analyst just chatted to management this morning. As follows.

Management are very excited and are constantly getting info on FAN-1, which is very likely commercial.

SNE discovery was not fully priced in to his 32c recent valuation, he thinks SNE discovery is worth 10-15c on its own for share price.
Unlike FAN-1, SNE doesnt need to be as big a discovery to be commercial.
They believe there is more upside to come as the Senegal system is extensive and FAR have another 5 targets in the same area.
FAN-1 and SNE-1 are part of the same petroleum system.
COP are in a position, they would want to buy alot more from FAR to drive the production as they have never been in Africa and are hungry for an opportunity there.
The price of FAR now, is not reflection where it should be, that back to back discoveries in this industry is unheard of.


Blue Horse Shoe