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028 GMT [Dow Jones] Morgan Stanley starts oil and gas explorer FAR (FAR.AU) at overweight with a A$0.12/share price target, saying the company appears to be in the right place-- Senegal--at the right time. FAR is part of a group that includes ConocoPhillips (COP) and Cairn Energy (CNE.LN) that made two very large offshore oil discoveries in 2014 and are now focused on appraisal drilling. Their SNE-1 discovery is estimated to contain 330 million barrels of recoverable oil, but Morgan Stanley thinks this could increase depending on appraisal drilling results. "We expect a number of important catalysts over the next six months and its exposure to a world-class oil development is unique in the Australian market given the total size of the oil resource," Morgan Stanley says. "If the base-case resource size is proven, development economics will be robust at lower oil prices." FAR last traded at A$0.07. ([email protected]; @dwinningWSJ)
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Last
50.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $46.66M |
Open | High | Low | Value | Volume |
50.5¢ | 50.5¢ | 50.5¢ | $14.48K | 28.69K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 5356 | 50.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
51.0¢ | 59999 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 30878 | 0.500 |
1 | 30000 | 0.495 |
2 | 28930 | 0.480 |
2 | 70000 | 0.475 |
2 | 78150 | 0.470 |
Price($) | Vol. | No. |
---|---|---|
0.525 | 69690 | 1 |
0.530 | 30000 | 1 |
0.535 | 30000 | 1 |
0.540 | 52471 | 2 |
0.550 | 82295 | 3 |
Last trade - 15.44pm 12/07/2024 (20 minute delay) ? |
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FAR (ASX) Chart |