Fellow Shareholders update, page-34

A very unsettled camp forming in the wake of recent events. The KKK has recently assembled. My head to the chopping board on a note of positivity. Sorry, not a happy camper myself, but all the recent occurrences were basically inevitable.

The positives to the CR

1.Over subscribed- There has to be a very little doubt on the formality of a DOC, to convince the firms involved to safe haven their clients to a disastrous alternative. This is a fair chunk of funds to be raised overnight, as other small class companies battle to raise ten million. The action of no exciting and new presentation somewhat bothered me.

2.The Aussie dollar - The prediction of the currency to hit expected lows in the mid to lower sixty cent range, would have impacted the company something severe regardless of the share price our funds were raised. Not too far off the 80c range now. We pay the drill rates in US $. Luck or foresight? Nicely timed.

3.Road going forward- The CR was always going to occur, let's go big on the above mentioned, and not have to look into the future of when it is going to happen. Done and dusted, funds to carry us into 2017. Now at least we know were we stand, impressed or not. No CR in sight now.

4. Greed within the company- It thrives across the whole of the ASX, why the shock factor? I own a business, and enjoy if the men on the floor are happy, but I myself have a personal satisfaction to get the best profits out of every week for my own future.

5.OPEC- to raise such sufficient funds only days before the bruising meeting, again was a very ingenious result. As much as we like to bag out the timing or the price range, in testing times FAR have somehow managed to pull a rabbit out of the hat and bring forward the required funds at very unfavourable industry times.

Final summary- On the low FAR have had incredible success in raising funds, to the displeasure of the mum and dad type SH'ers who feel bludgeoned by the lack of company communication. Personally I feel somewhat wounded as the rest that have portrayed they're feelings recently. It is what it is, and for those that still have an emphatic perception to the future, we are nearing the top of the battlefield. The next three to six months will well and truly define the enormity or the BS of this very above average find.

Never mind the $, my ambition of 50c is slipping out the window. Look across the board and it is still a company with a very favoured outlook and potentially very strong returns. Never look at the lucky guy who just invested in a half cent penny company and got lucky. Raising coin because of no income was always part of the game. Time will tell how special this find is, and maybe that 40c is still on the cards.

On a final. One has to wonder how these funds so magically disappear. After fees to RBC and BP to raise, this should leave us with approx. 55 million Aus dollars + 10 to 15 in the kitty before SNE-4 and the CR . Approx 48 mil US pending on the exchange rate. To my calculations, 35 million US to drill and not test a straight forward well. 16.7%, FARS input, 5.5 mil US. There seems to be a lot of change leftover than just a two well extension programme. Where is the remaining US 30 million heading to. Seismic, core testing, Risc, blah blah. 30 MILLION US$!! We the shareholders need to be brought out of the dark. At least a little insight into the costing's spent, not just lump sums vanished.