"there is no doubt in my mind at least that it is for this well and the next two if drilled.."
Whoa there, Whisky. May be just your wording, but I don't believe that the new funding would have been required for SNE 4. That would have been sailing way too close to the wind, and out of line with my back of envelope spend rate estimate. Also, the last CR was based on covering the 3 well drill program. Since we are ahead of schedule and drilling a fourth for 'free' it is implausible, to me anyway, that we were already down to our last 10m and needing more cash for SNE 4. Anyhow, the qty report in 2 weeks will clear that up. (I believe that the throw-away line that FAR had 10m before the capital raising may not have meant 10m cash at bank last Friday, but rather FAR would be down to $10m at conclusion of SNE4 - after all it is a 'free' well)
I do agree with your interpretation that they mean possible 2 additional wells after SNE4.
Cheers
FAR Price at posting:
8.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)