I never said CNE were in the same boat as FAR.
What I said was they announced in mid 2018 that their finance was well advanced....2 years later they have zero extra finance.
CNE budget this year is for 400 million.
They currently have about 750 million, 108 of that from a sale.
They only have 30% of their oil hedged so their profit will be well down.
They say they are going to lift the line of credit to 1 billion.
Currently that will be around 600 million short of what is required.
CNE selling will be facing the exact same issues FAR are. They won't get a reasonable price in the current environment....especially as their own numbers have phase 1 at $41 pbo break even.
Extremely Rough Value Calculation, page-478
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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¢ | $101.9K | 200.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 48741 | 48.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 49.5¢ | 1786 | 1 |
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| Last trade - 15.59pm 04/10/2024 (20 minute delay) ? |
| FAR (ASX) Chart |