FAR

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Fellow Shareholders update, page-6

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kkw

7,171 Posts.

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18/04/16

12:53

Post #: 17530957
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Originally posted by Oddoneout ↑

Hi All

This paragraph is interesting:

"These funds put FAR in a strong financial position with sufficient capital to meet all its expected obligations for the next phase of evaluation which may include an additional two contingent wells."

My question: Are these two wells additional to the three contingent wells originally planned, or are they additional to the fourth (bonus) well now being drilled? (ie Has this fourth well become, in effect, the first of those three contingent wells?)

I will email the company for clarification.

At the risk of having my head kicked off, I think today's is a strong press release. FAR at least addresses the criticisms of the latest CR and reiterates it is raising capital in a very difficult market (not made easier by the Dhoha debacle). There is no doubt the recruitment of new, large domestic and offshore shareholders will add strength to the register and should, at some point, introduce new on-market buyers as they build their holding as we near or achieve commerciality. I really don't think things are as dark as some here would have it. Yes, management probably hasn't been perfect, but it's been pretty damn good in a horrendous environment and I believe has put us within reach of tremendous returns on our investments.

And fair crack on the soccer ball sponsorship. For heaven's sake, is our relationship with the Government and people of Senegal not central to our success? Isn't being a good corporate citizen something to which we should aspire? I for one believe these sponsorships and goodwill gestures pay off in spades, both financially and morally.

And, no, I am NOT part of FAR management, just trying to be fair. I have my criticisms of the way in which the performance rights have been structured and I will raise them in a professional manner with the company.

OOO

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OOO,

I think that soccer ball stuff is a very good line to take. Tullow was doing something similar when they were drilling near the lake in Uganda, but I quite forgotten what it was, I think it was something to do with the fishing industry.

Agreed that it is a difficult environment to raise money.

I don't agree though for that very same reason on the rewards.

Judging by the tone of the announcement, I have no doubt that someone is monitoring HC. Are you going to the AGM OOO? You might get a chance to have a face to face with FJ.

What happen to the announcement notification on HC?

KKW

FAR Price at posting: 8.5¢ Sentiment: Buy Disclosure: Held
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Fellow Shareholders update, page-6

MinRes jumps 5% as the company meets production guidance – depressed iron ore prices be damned

Horizon firms up ore reserve for Boorara ahead of FY25 Q1 development decision

Nine's staff strike as Paris Olympic coverage begins

Monadelphous inks $200M contract with Woodside to help build Pluto LNG – but will it make Scarborough cheaper?

ASX Market Open: ASX200 to rise for Friday session | July 26

Red Hawk upgrades Blacksmith with DSO mineral resource at the Eagle Deposit

Capital raisings wrap: Brainchip, Ovanti, Lake and VHM

Tissue Repairs soars nearly 32% on TGA approval for wound healing gel

Nova locks in NASDAQ US market listing at a value of only US$3.3M as ASX gets quieter and quieter

IGO kicks off earn-in copper drilling on-site Encounter's Yeneena play as it adopts new identity

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Fellow Shareholders update, page-6

Top Stories

MinRes jumps 5% as the company meets production guidance – depressed iron ore prices be damned

Horizon firms up ore reserve for Boorara ahead of FY25 Q1 development decision

Nine's staff strike as Paris Olympic coverage begins

Monadelphous inks $200M contract with Woodside to help build Pluto LNG – but will it make Scarborough cheaper?

ASX Market Open: ASX200 to rise for Friday session | July 26

Red Hawk upgrades Blacksmith with DSO mineral resource at the Eagle Deposit

Capital raisings wrap: Brainchip, Ovanti, Lake and VHM

Tissue Repairs soars nearly 32% on TGA approval for wound healing gel

Nova locks in NASDAQ US market listing at a value of only US$3.3M as ASX gets quieter and quieter

IGO kicks off earn-in copper drilling on-site Encounter's Yeneena play as it adopts new identity

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