*FAR Price Target Cut 40% to A$0.06/Share by Morgan Stanley, page-100

"Took them a while to work that out. Nothing has changed other than for the betterin the last 6 months."

It sure did , it's amazing that they have suddenly discovered it now, perhaps someone sugested to them it would be a good time "realise " their oversight...

let's have a look

1: uncertainty over project timing:

Well FID is certainly taking a bit longer but the main event , which is first oil , hasn't changed in fact it's been reduced if anything, but we have been aware of this for a long time.

2: Uncertainty over funding:

There has been in certainty over funding since they made the discovery in 2014 and it will remain untill resolved.
However the JV funding talks are still ongoing and FAR dont appear to be greatly concerned.

“Tim has made a terrific contribution to FAR as a non-executive director and more recently, has been instrumental in helping to position FAR to be fully financed for the forthcoming SNE Field development"

3: Arbitration a risk to the shareprice:

There is considerably more risk to the upside for those on the outside looking in.. ,however I'm sure there would be a temporary kneejerk reaction to the downside if things don't work out, but the WI doesn't change, it has been known since Arbitration began, this is not news.

In the meantime we have snagged another 10% of Gambia which will help us in the farm out process and costs associated with it will almost certainly recovered in that process. IMO I doubt PETRONAS will be part of that, even for large Companies a 50% WI is on the high side, I'm expecting a third party taking a portion of FAR's working interest and we will end up with around 15-25 %.

Just as important every day is a day closer to everything...it ain't easy being a tasty minnow with no income in tank full of sharks but once again we have known that for years.

Cheers Whisky