Beware the cult, page-22

What did you all want them to do? raise at 10c?

Maybe the insto's wouldn't pay 10cents?
Maybe management expected the SP to stay around 12cents, but it didn't and they were forced to raise at a cheaper SP? - no one can accurately predict the SP 100% of the time.

I really don't see what you're all so angry about. It is not been 'fan boys', it's about the facts.
AussiePunter, what would you have done? raised no money? not been able to meet JV obligations? We needed the cash, what if the Insto's simply wouldn't pay 10c? I doublt you would raise 60-70million dollars by going to retail investors in this market.

What about the options? do you honestly blame them? I don't. They have done a bloody good job managing this huge find and oil province. I know Michael Evans was the one that found the FAN system but Caths team found the SNE system but more importantly have done a good job at managing the entire project.

I am not entirely happy with the options issue myself, however, I don't entirely blame them. I would do the same thing if I was in their shoes! and at the end of the day, even though they're getting the shares for free, it is still within their best interests to make the SP go UP because it will make them super rich - so for me, the incentive is still there.

Given the current announcments / results it looks to me as though FAR's SP is worth around 20cents.
This only includes the value of SNE (our 15%). Things that can significantly change our SP is if SNE or the FANS or BOTH flow into our DF block of which we own 50% with an option to own 75% and we have to make an announcement prior to October 2016 as to whether or not we are going to drill or not.

Furthermore - we are going to be drilling more SNE wells. Chances are, with each well, our reserves are going to go up and therefore the overall value of SNE (including our SP).

Then there is the FAN systems. And the buried hills value.


My point is, we now have the money to hopefully further increase our SNE resources and declare DOC.
If the 3D seismics come back showing SNE or Burried Hill type plays in DF (which they have hinted at) then far would be worth a HEAP.

I know everyone says this all the time but I genuinely believe that the next 6 to 12 months really will be something to watch.

And while I think constructive criticism is a good thing - the key word is CONSTRUCTIVE.

If you want to post negative comments, that's fine. But take the emotion out of it and stop repeating the same negative comments everyday. The SP has not exactly tanked, so if you're unhappy consider selling.

Ele.