FAR the lucky Company, page-8

Is FAR the lucky company?

Whisky I totally agree with what you say except that if the discoveries hadn't been made the current share price would be a lot less than 1 - 2c more like 0.1c (refer PCL).

One might say that FAR were indeed lucky to make the twin discoveries - although some would put it down to skill there are certainly plenty of supposedly skilful oil explorers with less luck.

FAR were certainly "lucky" to be able to make the life saving placement they did last November on the back of FAN1 at a time when the London Cairn market was singularly unimpressed.

The recipients of the placement were also lucky that SNE came in and saved their bacon, but those that held on were not so lucky as they took the shares just in time to see the oil price collapse.

Is FAR now lucky because the rig rates are lower? I think you could only say that if FAR had raised further moneys at the time of the IPs when the oil price had partly recovered, that would have made them triple lucky.

Hopefully by the time the appraisal wells are drilled and tested the oil price will have recovered so that the next placement can be made on the back of both good results and a rising oil price.

That will be indeed be triple lucky for FAR and this time lucky also for the recipients of the placement.

And everyone lived happily ever after.

pj