FAR and possible suitors

Time for a new shorter thread

Since the capital raising and the results of SNE 4 the share price has barely moved.

WHY?

Yes we all know as per FAR last AGM presentation by end 2016 we only have between 20 to 30 million in the bank, so the market saying FAR going to do a CR again.

But the market appears to assigning zero significance to Bel 1 and SNE 4 intersection and thickness of the gross hydrocarbon column found.

Pre-spud the JV had 3D Seismic depth mapped the edge of the SNE field just North of the Bel 1 well location and the just SE of SNE 4.

Well that depth conversion was totally wrong as the intersection of gross hydrocarbons were still above 100 metres.

The only unknown is the net reservoir thickness at SNE 4, my interp say maybe 20 to 30 m basically the gas filled at Bel 1 were maybe oil charges at SNE 4, who knows yet.

Thus the extent of gas/oil field is much greater, the 3D seismic depth conversion will be re-done and a new RISC report written as the most recent one only includes results from SNE 1, 2 and 3.

SO is the lack of share price reaction solely due to the latest CR hang over or what?

Comment please

WN