"Right now the CSEM business far outweighs any benefit of Shell being involved and the share price is reflecting this...we are absolutely back to square one..i dont see how you can argue this any differently at the moment...we are worse than square one actually..at least before there was hope of a run up in price as drilling started if a partner was announced..now it is all or nothing...."
Sorry mate but that is pure ignorance.
Ask yourself this
Why are Shell giving over $3m to FAR to be allowed to run the CSEM over some of the prospective targets? Are they just punters that have thrown in $3.4m and the cost of the CSEM just incase they fins something? Or do you beleiev that the 3d seismic has given good indications there for Shell is prepared to take a calculated risk? Of course there is still risk.That is the nature of the game. HNowever to suggest that the risk is worse now than previous is way off the mark. What would happen to the price if it were drilled and it was a duster? Are you suggesting that if Shell don't take up the option to farm in then the price would be worse than a duster? Were you planning to hold onto your shares for a drill result? Based on your post obviously not. You were planning to off load on good news. You didn't get the news you wanted so aren't happy and have decided to sell. Fair enough but that doesn't make your post an accurate reflection of the current and future risk. The company and its shareholders are in a much stronger position today than they were two weks ago and to suggest otherwise is folly.
FAR Price at posting:
5.1¢ Sentiment: Buy Disclosure: Held
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