Over 24 hours ago FAR was stuck with a 13.67% share in Sangomar. Today they can end up with 27.34% (should they choose to preempt Cairn's sale and confirmed for eligibility via WPL in their Monday announcement).
So before anyone misreads the current situation thinking the WPL preemption is a negative for FAR - think again - and this time really hard.
This is the game changer for FAR, and something its shareholders have been waiting for.
Why? Because if they double their stake it would attract buyout interest from parties that would currently overlook FAR due to the small current stake.
And we already know interest is hot with one major (Woodside) and another super major (LukOil) already very interested in Sangomar.
Question is - will FAR preempt?
They can CR all they want and I'll happily subscribe to my maximum allocation because their future would look much, much brighter.
Couple that with a strong recovery in oil prices post COVID-19, and FAR will be back in the game.
I want it.
FAR PREEMPTION ON SANGOMAR POSSIBILITY
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Last
45.5¢ |
Change
0.010(2.25%) |
Mkt cap ! $42.04M | |||
| Open | High | Low | Value | Volume |
| 44.0¢ | 45.5¢ | 43.5¢ | $152.2K | 342.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 48975 | 44.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 45.5¢ | 4998 | 1 |
View Market Depth
| Last trade - 16.10pm 10/05/2024 (20 minute delay) ? |
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Last
45.0¢ |
Change
0.010 ( 1.12 %) |
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| Open | High | Low | Volume | ||
| 44.0¢ | 45.0¢ | 44.0¢ | 102238 | ||
| Last updated 15.10pm 10/05/2024 ? | |||||
| FAR (ASX) Chart |