FAR ar a bit on the conservative side and under play their assets. So they won't value China atm.
There are 100mbls in a field which has viscous oil. Some of this can be recovered by specialised drilling as shown in the presentation. FAR say 15mbls.
The other China field has 10mbls ready to develop.
So there's 25mbls available now.
Oil in the ground off WA sold for $8 pbl. FAR's share of the field is 1.25mbls @ $8 pbl 0r $10m. about 5 cents per share.
Subsequent drilling and improvements in technologh could make up to 100mbls available. That's why it's so hard to value. If this happens value could be 20 cents per share but not yet.
It has a very interesting future.
FAR Price at posting:
0.0¢ Sentiment: None Disclosure: Held
