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The only argument I have against that theory Kfann is WPL were...

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Davy Boy

16,578 Posts.

3969

15/01/20

20:32

Post #: 42401597
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Originally posted by Kfann: ↑

Hi all,

KB5415:

Wrong Strategy? Yes. Far's expertise has always been exploration and transition to mega-project development was always going to be a risky and difficult stretch that would be very distracting to management. I have said this a couple of times 3-4 years ago and have always felt that a partial sell-down would have been the better option (especially during the lower oil and equity (<12-14c) price environment. In such an environment, it is nearly impossible for a junior to have any real influence in project or financing outcomes.

Laylow: You are correct. Globally, non-income producing micro-caps (<$250m MC) get pumbled by debt and equity teams.

DavyBoy: We (I) should have all seen that a $1B FPSO was going to be tacked on. All of WPL's operated FPSO's are owned by their JVs. WPL are also know for a bit of gold-plating and stuffing a few hollow logs in order to make the ultimate project closure report look good.
It would be fun to subscribe to some machiavellian plot to specifically weaken FAR; but I doubt it. I think that any harm done to FAR has been just a side game for WPL.

Kovey: I'm a long term PI investor whose just trying to get it right 55% of the time. This means that 45% of the time, I stuff up. So please never read anything I say as either a Buy or a Sell recommendation or inference.

Very begrudgingly and with no logic other that FOMO, I participated at 4.25c.

Because I cannot see the outcome, I now classify this as a poorly informed (but hopeful) punt.

Cheers,

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The only argument I have against that theory Kfann is WPL were happy to lodge the exploitation plan based on leasing.

FAR Price at posting: 4.2¢ Sentiment: Hold Disclosure: Held
2 Upvote

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Last 49.0¢		Change -0.010(2.00%)		Mkt cap ! $45.28M

Open	High	Low	Value	Volume
48.5¢	52.0¢	48.5¢	$101.9K	200.6K

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No.	Vol.	Price($)
2	48741	48.5¢

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Price($)	Vol.	No.
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No.	Vol.	Price($)
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1	5000	0.480
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1	50000	0.465

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0.495	1786	1
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The only argument I have against that theory Kfann is WPL were...

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

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White Cliff jumps 24% on 'bonanza grade' copper rock chips at Rae project, Canada

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

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The only argument I have against that theory Kfann is WPL were...

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Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

Cokal upgrades infrastructure for BBM ramp-up in Indonesia

Solstice Minerals to ramp up drilling campaign at Yarri Gold Project

BCI reaches close of funding facility for salt-first part of Mardie project

Neurotech knocked back by FDA as agency declares target condition not rare enough for special status

Buxton projects new graphite province discovery at WA Narryer play

White Cliff jumps 24% on 'bonanza grade' copper rock chips at Rae project, Canada

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

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