Big week for FAR - 10 cent by weeks end?, page-40

Morning all

I love the smell of a Trading Halt in the morning - it smells like victory!

It certainly provokes speculation at any rate! Even Mrs OOO is on tenterhooks. (Mind you, she has certain parts of my anatomy on permanent tenterhooks!)

Here's the AGM quote to which I constantly return.

"Once the SNE appraisals are drilled, the eyes of the world will be on us." Chairman Nic.

Well guess what: Those eyes are now casting a querrolous glance towards London tonight to see what the Operator has to say. It seems certain, does it not, that Cairn will announce tonight, thereby enabling FAR to meet its statutory obligations whilst itself remaining firmly in the driver's seat. If so, our wait is not 24 hours but more like 11 as I write.

And what might Cairn say? The news is surely good - meeting pre-drill expectations etc - but how good? I suspect we will get the bare minimum needed to cover the FAR directors' collective derrières but no more. The detail, I think, will come after SNE3 surprises massively to the upside and before a miss at Bellatrix (still possible of course) temporarily derails the significant SP gains that will surely be made by that point. We shall see.

For completists, here is the full quote from Chairman Nic:

"Once the SNE appraisals are drilled, the eyes of the world will be on us. There is currently not enough information out there to enable others to understand what we have. By then end of the year we expect knocks on our door. We've already had some telling us 'we can help you with this or that'. I'd say by the end of the year we will be getting some serious offers. If we get a serious offer we will look at that. If an offer makes sense, then we'd talk to our shareholders about that. Our job now is to plan for success and assume we are going all the way to production."

Cant wait until he feels compelled to talk to shareholders. Now there's a standing-room-only EGM if ever there were one.

OOO