FAR

3.03%

51.0¢ far limited

Bell Potter Report, page-2

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Tony999

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31/03/17

07:16

Post #: 23757159
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Originally posted by Roya Pandi ↑

Bell Potter Report

FAR (8.1 c target 27c)- mkt cap $350 mil;l Value accretion of Gambia deal missed by market

This week’s Gambia deal is worth multiples of the $5 miill usd FAR paid and could add more than 10 pc to near term valuation and probably more over time as Big Oil attention focuses on that area of offshore West Africa.

To understand why look at FAR’s track record in Senegal history and then do the math.

After FAR secured the Senegal acreage Cairn paid USD1.38/b% point for farming into in the Senegal JV

4 months later, COP paid USD2.86/% point

After 8 successful wells (and 4 successes by Kosmos to the north).

FAR , farms into the A2/A5 acreage, adjacent to its successes for USD0.05/% point on trend just as Big Oil is re focusing on West Africa to fill in a production hole post 2020.

Alright the oil price was a lot higher in those days but as the consortium has shown thanks to lower drilling costs offshore Senegal is b can be commercial at these sorts of prices and the

Bought from Erin Energy Corp, as it decided to focus on its Nigerian assets for an upfront payment of $5.18m… after a six month lock up.

The farm-in requires FAR to pay up to $8m of Erin’s costs for an exploration well due to be drilled by late 2018. Prior to that FAR expect to complete seismic reprocessing and interpretation work some of which has already given up valuable potential.

There are several large prospects and the company has already mapped three potentially drillable prospects and leads and the two blocks between them contain prospective resources of in excess of 1bn barrels of oil on an unrisked, best estimate 100% basis.

FAR hold 80%, operator rights and has time to farm down, which for potentially on trend acreage will be interesting given the expected stampede for Senegal offshore assets later this year.

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Missed by market!!
The market has missed everything FAR has ever done.
That can go on my headstone.
FAR
Missed by market.
Died broke!

Last edited by Tony999: 31/03/17

FAR Price at posting: 8.1¢ Sentiment: Buy Disclosure: Held
40 Upvote

0 Great analysis

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(20min delay)
Last 51.0¢		Change 0.015(3.03%)		Mkt cap ! $47.12M

Open	High	Low	Value	Volume
50.0¢	51.0¢	50.0¢	$51.68K	102.5K

Buyers (Bids)

No.	Vol.	Price($)
1	75177	50.5¢

Sellers (Offers)

Price($)	Vol.	No.
51.0¢	187769	3

View Market Depth

No.	Vol.	Price($)
1	75177	0.505
1	62764	0.500
3	169438	0.495
1	99999	0.490
2	104597	0.485

Price($)	Vol.	No.
0.510	187769	3
0.515	103300	2
0.520	335196	3
0.525	100000	1
0.530	20000	1

Last trade - 15.45pm 30/08/2024 (20 minute delay)

FAR (ASX) Chart

Bell Potter Report, page-2

Tamboran kicks off Shenandoah South pilot project with SS-2H well spud

Lendlease sells off US east coast construction operations in latest global divestment push

Consumers cautious according to Harvey Norman, as profit slumps 35% in FY24

Helix investor makes partial takeover bid, proposing board changes

Vysarn acquires Waste Water Services Pty Ltd for $7.5M; WWS to become subsidiary as expansion continues

PYC achieves key designation for drug aiming to treat blinding eye disease ADOA

Consumer Staples Shine Amid Retail Slump – Key Stocks to Watch

WA Nifty copper project steps closer to restart with Cyprium Metals inking $40M loan from Glencore

The Calmer Co’s Anthony Noble reflects on record breaking FY24

Week 35 Wrap: HotCopper’s top watched; ‘iron ore winter’ has started; Oz inflation @ 3.5% MoM; Harris fracking flip

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Bell Potter Report, page-2

Top Stories

Tamboran kicks off Shenandoah South pilot project with SS-2H well spud

Lendlease sells off US east coast construction operations in latest global divestment push

Consumers cautious according to Harvey Norman, as profit slumps 35% in FY24

Helix investor makes partial takeover bid, proposing board changes

Vysarn acquires Waste Water Services Pty Ltd for $7.5M; WWS to become subsidiary as expansion continues

PYC achieves key designation for drug aiming to treat blinding eye disease ADOA

Consumer Staples Shine Amid Retail Slump – Key Stocks to Watch

WA Nifty copper project steps closer to restart with Cyprium Metals inking $40M loan from Glencore

The Calmer Co’s Anthony Noble reflects on record breaking FY24

Week 35 Wrap: HotCopper’s top watched; ‘iron ore winter’ has started; Oz inflation @ 3.5% MoM; Harris fracking flip

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News