Deepwater back in vogue, page-7

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WhiteNoise

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20/10/16

13:44

Post #: 20000258
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Originally posted by 34232 ↑

WN
Yes far too early to right off FAN.
If I remember correctly they indicated that they had drilled on the edge of the structure. That FAN 1 was not optimally placed? Someone will confirm that?
I'm with farjock here, I believe that there is a very good chance that FAN will become a huge asset, and potentially rival SNE. 500m interval! With SNE developed and producing economies of scale with respect to FAN should it be proved up will make it even more valuable
That make the COP WPL deal even more ridiculous as all our talk has been based on the price per barrel based on SNE alone without credit for FAN potential and the undrilled prospects.
The focus is on SNE but I would love to see another hole in FAN.
That's the problem too, one half of me wants to see FAR taken over, clean and easy, bird in the hand, the other half of me says we are years away from finding out what FAR is really worth and we could look back and say it was sold for a song. And that is irrespective of the current PE situation.

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We agree to differ but I don't expect another well to be drilled into FAN for at least 10 years.

Very deep water and minimal reservoir development.

Bottomline the value to FAR owning FAN is currently near zero.

Its all about the shelf edge, even CNE plan to drill that higher fan to the West of SNE is just a side show and shouldn't be drilled.

They need to delineate SNE ASAP.

FAR Price at posting: 8.1¢ Sentiment: Buy Disclosure: Held
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Last 38.0¢		Change 0.030(8.57%)		Mkt cap ! $35.11M

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