Entered many years ago. Mostly paid 2.9 c/s, some a bit less some a bit more. Been sitting on 100% for a long time. It was all about the quick buck. Understood nothing, thought Hartley's Report was conservative etc etc. Learned a lot since. When one lives through the collapse of the POO, one has little choice but to learn not only what the industry is like, but also what the "market" is like. The more I learned the more I wanted to stay. Something called fundamentals seamed to become important.
What most investors are troubled by is the length of time it has taken to get not very FAR. However if one considers that it takes such a long time to finally succeed it's not surprising. One probably should have the guts to trade. I am not good at it and I don't want to. I bought enough shares upfront to make an impact if we succeed. And succeed we will. Be it 15 c/s, 20 c/s, 80 c/s or what ever. No junior oil company has the success FAR had or the foot print FAR has in West Africa. This in itself is worth the wait.
As CN said this week, 1 in 10 wells find oil and 1 in 10 oilfinds lead to production. I think we are doing very well. I suspect FID has to be made before we see a substantial SP increase. This should happen early next year. Not that long to wait. What we will see in the meantime are the detractors of FAR, the hammering of our SP and so on. I don't think we are alone in this. Happens to many companies.
The stars in the firmament are the fundamentals and they are as good as they possibly can get.
FAR Price at posting:
8.0¢ Sentiment: Hold Disclosure: Held
(20min delay)