Far Pre-Trade 16th October, page-47

Aqua’s table shows an unrisked valuation for FAR of $2.63, and I thought that for the benefit of the uninitiated I might just touch on the subject of "unrisked valuations" of potential resources in general:

Unless the attributed value of potential oil is discounted appropriately, and allowance made for financing by share dilution (if the market permits) unrisked valuations assume:
1. That every listed prospect will contain the stated potential amount and be a commercial success.
2. That they will cost nothing to drill and test.
3. That they take no time to drill and evaluate.
As intimated earlier such valuations are irrelevant and totally misleading for the reasons given above.
pj