All good.........however.......to realise the NPV and get to first oil , FAR will need to chip in their 15% of development cost - approx $750M to $900M.
This means a further large (66%?) dilution of existing shares to get to first oil if done by CR otherwise taking on a loan larger than current market cap - interestingly 0.33* 25c = 8c.
0.33* 52.6c = 17.35c
Increase in 2C or increase in oil price is required to get to 15c+ IMO - if we get good results in both then 25c is possible.
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3 | 79726 | 0.500 |
3 | 56793 | 0.495 |
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1 | 41011 | 0.475 |
Price($) | Vol. | No. |
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