Aqua, I think you may have to nurture your optimism for a while yet.
There are only 2 components to the value of FAR:
1. how much oil does it have ?
2. what is the oil worth ?
As to the first, it is impossible for there to be sufficient factual information available from the first appraisal well to come close to answering this question. Tonight's celebration may simply be to recognise a very good result from the first well, exceeding expectations. Nothing wrong with that.
As to the second, at current POO the answer is probably zero, based on total cost of production. This is largely why the SP is where it is - the daily SP is totally driven by short term and retail investors (plus the odd shorter).
IMHO we will not see any significant movement in the SP until either:
(a) the POO increases to a level where it is worth getting the stuff out of the ground or
(b) the resource is proven up to a level attractive to the big boys who have a much longer outlook in terms of POO
Personally, I can't see either of these things happening in less than 12 months but I have every expectation that BOTH will occur after that time.
GLTALTH
Fisho
- Forums
- ASX - By Stock
- How will FAR fare tomorrow and Tuesday?
Aqua, I think you may have to nurture your optimism for a while...
-
- There are more pages in this discussion • 27 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add FAR (ASX) to my watchlist
(20min delay)
|
|||||
Last
50.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $46.20M |
Open | High | Low | Value | Volume |
49.5¢ | 50.0¢ | 49.5¢ | $43.20K | 86.49K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 21776 | 50.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
50.5¢ | 94070 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 33702 | 0.495 |
1 | 99999 | 0.490 |
2 | 104597 | 0.485 |
3 | 160000 | 0.480 |
1 | 100000 | 0.475 |
Price($) | Vol. | No. |
---|---|---|
0.505 | 94070 | 2 |
0.510 | 200000 | 2 |
0.515 | 120000 | 2 |
0.520 | 335203 | 4 |
0.525 | 118000 | 2 |
Last trade - 15.57pm 23/08/2024 (20 minute delay) ? |
FAR (ASX) Chart |
The Watchlist
SER
STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
David DeTata
Managing Director
SPONSORED BY The Market Online