Thanks Szaba, but I'm always careful to research before I shoot. A cursory review of your posts indicated you had a significant chunk of your super funds tied up in LNC, which you were wise enough to ditch before ASX de-listing, copping your losses on the chin. I can appreciate your frustration having taken solace in the blue-chip arms of WPL only to find it crushed by the same falling oil price. Ouch.
LNC was never really crushed by the falling oil price though. It was in the right place at the right time with the sale of a big coal tenement, and wasted the proceed buying a bunch of what were effectively stripper wells in the US. This allowed it to get some sales on the board, and distract your ilk from the spin around its other assets for long enough. The 'trillion dollar' oil find was what alerted me to LNC in the first place. Analytic fodder for MBA student for years to come.
Your lame attempt to compare LNC and FAR just proves my point. From memory, LNC never got close to appraisal drilling on any other their other assets, nor did any major publicly express interest in said assets. I'd say this is a very stark contract to FAR which is on its way to a maiden resource declaration of a monster field which gets bigger with each well, and finds itself locked in a game of high stakes corporate strategy in which it appears to have the upper hand, involving genuine big hitters such as COP, WLP and whoever is on the sidelines waiting to pants COP/WPL. Fuss amongst multinational majors worthy of a "great asset," no?
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Price($) | Vol. | No. |
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50.5¢ | 10000 | 1 |
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3 | 48930 | 0.480 |
2 | 70000 | 0.475 |
3 | 84150 | 0.470 |
4 | 200000 | 0.465 |
Price($) | Vol. | No. |
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0.515 | 9742 | 1 |
0.520 | 43555 | 1 |
0.530 | 10000 | 1 |
0.540 | 22471 | 1 |
0.550 | 82295 | 3 |
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