CR-What about Debt raising ?, page-13

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lvheather

59 Posts.

17/10/14

20:24

Post #: 14142537
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Originally posted by plugged ↑

Well a cashed up FAR with a bill boe discovery in the bank can't be a bad thing. A cashed up FAR with a 1-2 bill + discovery would be a better thing. As I've posted after previous FAR's CR's IMO if a minnow like FAR wants to play with the big boys they need cash - lots of it.. This CR is no different except for the fact that all previous CR's have now delivered the FAN 1 discovery and this CR is to ensure that FAR capitalise to the max on their current decision. I've read posts suggesting FAR should do a deal with CP where they retain 10% and take some cash. Personally if Senegal is a big as all the indicators point to I would rather have FAR retain their 15% at the expense of a few million shares. Whats 3 bill shares when you already have 2.7 bill. If Senegal does live up to several Bill boe's then a few cents dilution now will be nothing compared to the end result, where as to sell off 33% of Senegal would have been a huge chunk at the other end. I know we are all talking about saving cash and moving onto Kenya but a bird in the hand is worth 2 in the bush. Senegal has delivered and Kenya is still unproven. I'd take 15% of Senegal everytime and I recall Cath saying at one time, Senegal was the jewel in crown.

Finally I'm excited about this announcement by the fact that FAR could raise $30 to $50 mill in a few days at 11 cents today. It was only in August that the SP was sub 5 cents and many posters were concerned that even at 5 cents the MC at $100 mill plus was way to high. How many posters can honestly say that would have given FAR any chance of raising $30 mill + at 11 cents only a few months down the track. Well we're here now and that IMO is on the "Terrific" news Bell Potter must be delivering to their silver tails. The news out of FAN 1 must be huge for these professionals and sophisticates (the chosen ones) to part with their hard earned at 11 cents on a speccie like FAR. Have these chosen few jumped on board after an introduction from Cairn and CP to ensure FAR is strong and well looked after. Well done CN to raise this amount in tough economics times and on the back of a very large share registery.

IMO this will be bigger than Ben Hur. FAR will be cashed up, ready to carry out further appraisals wells in Senegal, will be in a solid financial position to negotiate better JV terms in Kenya and more importantly, the cash in the bank will protect shareholders investments no matter what the outcome.

Cheers & GLTA

Plugged

PDYOR

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Very insightful well writen comment, and couldnt agree more with everything said. Thanks plugged

LV

FAR Price at posting: 13.5¢ Sentiment: Buy Disclosure: Held
4 Upvote

0 Great analysis

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