Desperate and sad time., page-9

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,