I would really like to think Cosmo that lessons have been learned on these threads, the hard way, mind you.
The ramping prior to the P & A was a tad over the top.
Posters were counting their money and making party plans in Dakar even though SAMO was a prospective resource and they were warned that prospective RISC resources very rarely add up as its harder to find oil nowadays.
However stubbornness and falling in love with a stock is a recipe for disaster.
IMO its going to be a long slow haul from now on and will be especially hard for FAR to be an entity in the J/V when production eventually begins.
This IMO is their biggest hurdle, staying in the game.
Yes, FAR management can do no wrong for those who bought in sub 7 cents who by the way are a minority.
Its still a bit concerning when Cath quotes the P10 figure for OIP but I suppose its like turning the Titanic and still takes time to sink in.
I notice a lot of posters have nothing to contribute anymore be it one line flame and baits or general discussion.
I have to say though reality about financing SNE is one subject which really has to be pushed.
Hopefully management have the required expertise in this field and seeing there are only four on the board should be able to give up that SAMO dream and get down to the real business about financing SNE.
The last thing FAR need is a CAP raise right at this time so hopefully FAR get some cash back off Petrosen although Cath did mention it only cost FAR one million dollars for the SAMO drill.
Its not what the so called accountants on here worked out so I hope Cath is just as bad on her workings.
It was a quick drill as the realists predicted going on Stena's track record so I for one will be disappointed if Petrosen does not give more cash back to FAR.
FAR Price at posting:
7.9¢ Sentiment: Hold Disclosure: Held
