I continue to me amazed by the incompetence of some ASX listed...

I continue to me amazed by the incompetence of some ASX listed companies. FAR were not asleep at the wheel, they were Missing In Action (MIA) this morning.

Bloomberg announced this transaction to the market at around 08.30am, ninety minutes prior to opening and FAR couldn't manage a pre opening Trading Halt.

I saw the announcement and waited for the FAR Pre Open Trading Halt, alas silence, not a buzz and the result was a share price low of A$0.067cents (-20%) to close at A$0.075cents a daily drop of 11.0%.

I managed the ASX listing matters for a small E&P company and this would never have happened on our/my  watch. We scanned media almost 24/7 for news within the segment, took Twitter feeds from across the world to inform us and prepare us. NO such due diligence at FAR today.

FAR Board member, Mr. Reg Nelson (ex Beach Energy) is only too aware of the impacts of JV partners exiting a JV or low ball take over transactions and the damage this causes to share prices. Reg will be furious over this outcome on the market today (-11%) , mind you Reg won't be alone as long suffering shareholders may have finally lost faith in FAR Management over today's appalling performance.

The Board of Directors and Senior Management must take responsibility and I'm sorry to say this, somebody (no name) should be leaving the building this afternoon and not return!

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