FAR

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In response to question 1: The price has retraced on every...

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Gilbert P

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23/03/16

10:58

Post #: 17344389
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Originally posted by Onceover ↑

I am coming from the slightly naiive position of little deep research apart from reading the latest FAR ASX releases here, so please don't shoot me to pieces, but just watching the share price retracement from its recent high I have been wondering these things:

1. I know this is a 'tight' well as far as updates before TD are concerned, but could this be a sign that we have tested the Bellatrix target zone with negative results (eg. poor quality reservoir)?

2. The company says it has a couple more weeks to go. At likely drilling rates for this well at this depth, is it likely that they are already through the Bellatrix target zone?

As an aside to this, there is a similar (though possibly not closed) structure to Bellatrix at the southern end of the SNE field (at the right hand end of the seismic section in FAR's 15 March release), which was marginally intersected by SNE-3 (though possibly not close enough to its crest to test it effectively).

3. Has there been any information released about this structure: ie. is it a lead still to be tested, or was it in fact tested and eliminated by SNE-3?

In plan view it is clearly NOT the recently disappeared 'Soleil' lead, but may well be the grey (Bellatrix-type) lead shown in the recent investor presentation overlying and overlapping to the east of 'Soleil'.

And if it wasn't effectively tested by SNE-3, then in view of the now-extended southern margin of the SNE field, it may be a good candidate for a further well, testing both the crest of that structure and the underlying extended southern margin of the SNE field further to the east of the SNE-3 well.

Would anybody care to comment on my 3 questions?

Thanks,

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In response to question 1: The price has retraced on every positive announcement. We have no recent data on market response to negative drilling results because we have not had any Higher highs and higher lows is a healthy way to climb. SP fluctuation is a result of trading and people taking funds elsewhere until they perceive a pending announcement.

FAR Price at posting: 9.6¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 52.0¢		Change 0.000(0.00%)		Mkt cap ! $48.05M

Open	High	Low	Value	Volume
52.0¢	52.5¢	51.5¢	$289.9K	557.5K

Buyers (Bids)

No.	Vol.	Price($)
1	1960	51.5¢

Sellers (Offers)

Price($)	Vol.	No.
52.0¢	103276	2

View Market Depth

No.	Vol.	Price($)
1	5000	0.510
1	2495	0.495
1	47000	0.485
1	1999	0.475
2	92553	0.470

Price($)	Vol.	No.
0.520	103276	2
0.525	19005	2
0.530	101005	2
0.550	27285	2
0.555	10000	1

Last trade - 16.10pm 11/10/2024 (20 minute delay)

FAR (ASX) Chart

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