the fact FAR has 2 offers "on the table" does not mean they are offers that are favourable to FAR. The offers could be 51% of Senegal and no compensation payment for seismic.
The surprise 90% is a huge bonus for FAR's farmin negotiations, but also they need cash to stay in the game and that cash will only come a the right time and in the right amounts from the JV agreement.
The big boys know FAR is cash strapped and in this current economic climate, the majors can wait while FAR dwindles and dies. FAR cant't wait, thus the desparate cash raising of 15% interest payment on notes and selling of Beibu (which wil also take time).
My guess is FAR are hoping the extra cash will help them to hang in there long enough to squeeze out a farmin deal which will enable them to survive -- perhaps.
I hope FAR finally has a bit of luck, but the odds are building against them and getting higher
excellent news, page-7
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Last
48.5¢ |
Change
-0.005(1.02%) |
Mkt cap ! $44.81M | |||
| Open | High | Low | Value | Volume |
| 48.5¢ | 48.5¢ | 48.5¢ | $4.85K | 10K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 31741 | 48.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 49.0¢ | 200000 | 1 |
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| Last trade - 10.04am 07/10/2024 (20 minute delay) ? |
| FAR (ASX) Chart |