Mbawa Discovery Adjacent to Two FAR Blocks - Buy
We are upgrading FAR Limited (“FAR”, “Company”) from a Speculative Buy to a Buy based on its large exposure to offshore Kenya, where the Mbawa gas discovery was recently made in Block L8. FAR has a 60% operated interest in Block L6, immediately adjacent and to the north of L8, and a 30% interest in Block L9, immediately adjacent and to the south of L8.
Well Positioned for Huge Re-Rating, with Additional Catalysts
FAR has exposure to likely further drilling success offshore Kenya, where it has two blocks adjacent to a play opening well in the region. Additionally, activity adjacent to its Senegal acreage could result in a further re-rating by early next year. News related to farm-outs on both coasts of Africa is also probable.
We have upgraded our recommendation for FAR from a Speculative Buy to a Buy and have increased our price target from 13cps to 17cps.
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Last
50.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $46.20M |
Open | High | Low | Value | Volume |
49.5¢ | 50.0¢ | 49.5¢ | $43.20K | 86.49K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 21776 | 50.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
50.5¢ | 94070 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 33702 | 0.495 |
1 | 99999 | 0.490 |
2 | 104597 | 0.485 |
3 | 160000 | 0.480 |
1 | 100000 | 0.475 |
Price($) | Vol. | No. |
---|---|---|
0.505 | 94070 | 2 |
0.510 | 200000 | 2 |
0.515 | 120000 | 2 |
0.520 | 335203 | 4 |
0.525 | 118000 | 2 |
Last trade - 15.57pm 23/08/2024 (20 minute delay) ? |
FAR (ASX) Chart |
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STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
David DeTata
Managing Director
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