Cairn AGM CEO's statement, page-67

Its a huge oil field good doctor but getting to production is IMO a bridge too far for FAR.
A takeover is the likely scenario but if management are smart and they survive that then selling at least half their lease will give them a fair amount of play money to do what they do best which is explore and it would also enable them to stay in the game till production.

50mboo + is also nothing to sneeze at with a 30 year income stream.
They should also consolidate their register in the not to distant future.
The plan was to be in FAR at least 12 months to see how this would pan out.
The downside buying in at 7.3/4 cents is very minimal compared to the upside.
I don't see massive baggers here though unless they do some of the above but a doubling of investment is possible but it all depends on the POO.

ATM FAR seem like they are hostage to the big boys with endless dilution.
The larger shareholders are benefitting from the equity raisings while the retail get diluted unless they buy more on market which can be a costly exercise.
FAR need to break free from this cycle to become relevant IMO.
A good start was pairing up with CNOOC.

I don't know what price I would sell at until some of the above become more clear.
So its a sit and hold for me.

PS...I am just like you doctor where hopefully we all make something out of buying stocks.
It is a giant casino though and only gamble what you can afford because that way all us ordinary people can control their emotions instead of the Greek tragedies that play out in here on a weekly basis.
Its fun reading though I must admit.