Hartleys believes FAR's current price of 5.8c and potential payoff from it's Senegal project makes it an attractive investment.
FAR has a 30% stake in the offshore Senegal project which has the potential of over a billion barrels of oil in place. The other JV partners are Senegal Hunt Oil, the operator with 60%, and Petrosen, Senegals national oil company with 10%.
The project is at the farm-out stage with the company expected to be free carried for the cost of one exploration well. According to Hartley's a 10% interest would represent an upside potential of 150 cents a share.
The company derives annual revenue of $3 million -$4 million from it's low risk US assets. It also has assets in the Beibu Gulf in China.
It's shares slipped 1.2c to 5.8c.
Hartleys believes FAR's current price of 5.8c and potential...
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Last
52.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $48.05M | |||
| Open | High | Low | Value | Volume |
| 52.0¢ | 53.5¢ | 52.0¢ | $17.03K | 32.56K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 10069 | 52.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 54.0¢ | 22471 | 1 |
View Market Depth
| Last trade - 15.03pm 05/07/2024 (20 minute delay) ? |
| FAR (ASX) Chart |