Government Approval, page-16

Anything but a complete takeover and subsequent delisting from the ASX is just management basically treating the company as a cash cow to keep themselves in high paying jobs in a sector that's in quite a funk. The market will not push the SP higher if FAR remains a cashed up explorer because a) they've just become a more risky proposition by essentially going back to the "oil exploration" start line and b) the market knows they have to spend the cash so why attribute any value to it.

The continued exploration route is a road to nowhere for non-management shareholders;

* acquire exploration license
* farm down to small percentage after interminable farmout process
* discover oil
* sell stake for cash
* use cash to acquire exploration license
* farm down to small percentage after interminable farmout process
* and so on......

It also only works if you discover oil. Once you don't the loop is broken and it's game over.