Mr H, I think FAR could be 6c to 25c depending on the results of...

Mr H,

I think FAR could be 6c to 25c depending on the results of all the things known to be in play at present and a few that could be in play.

The obvious risk for FAR is cashflow. Cash is required by mid year. Cash may come from PE resolution, Djiffere Farm-in and subsequesnt farm-out , Capital raise. All in the timing isnt it. If PE and Djiffere are not resolved by May then a capital raise is almost certain mid year. If SP hits 12c on good connectivity they may go for CR then as a buffer while the other stuff plays out in due course.

If a Takeover bidding war comes into play at some stage then that doesnt avert the need for cash till takeover is done and dusted. Oil price movements and sentiment will have significant influence.....

If connectivity is problematic or we have a dry hole or drill ship delays due to breakdowns or other issues then ????

In short term and long term FAR could go anywhere.

I think the most likely outcome IMO is connectivity proven with short term gains. PE resolution in the next month with a deal on Djiffere and no CR. Lets see what comes to pass in this drill campaign and make some decisions at that known milestone point by early April!