Hey Gus....oil comes from dead algae....coal comes from old swamps, peat, bushes, plants and trees....the worst coal you can get is mines that dig up coal beds that have had peat fires...
Unfortunately most of the EVs today are charged on baseload (coal) ( charging at night)....but the goal is to get baseload from stored solar/wind/ tidal etc..making a cleaner EV plug in (hopefully)
Oil consumption is still increasing while replacement of oil is fast declining and depletion accelerates...so FARs oil will still be in high demand in the near term.
I spent the morning reading through past FAR announcements going back to 2013 (pre-FAN discovery)....very interesting to have a catch up....I remember the first time I met Cath at RRS event on the Gold Coast in 2012 and her excitement about the myocene reefs off Kenya....then we got onto the Senegal Shelf and her eyes lit up....Pointing at a picture of SNE and the helmet shape of the top of the buried hills (now SNE) and she said just let me at it...and drew a picture of a drill string right into the guts of it.....right on the knocker where we now have SNE-1 .....
Well I have talked with her every year since and that same fire is now back in her approach to this drill at Samo...all the SNE/FAN appraisals didnt have this same exuberance as this one drill has.....
I hope that it was Cath that got the JV to throw that FAN south drill into the last Stenna operation (I wouldnt put it past her) because it was that drill that reinforced the strength of the southward proliferation of the source kitchen....In my eyes it was as exciting as FAN-1 was as proof that anything sitting above would have had the same strong migration (SNE virtually became a slam dunk after the FAN-1 confirmed source proliferation and the oil/quality) ....and Samo sits up above the canyons up above FAN South just like SNE did...
The sands maybe a little further east but they are still connected according to their interpretation and they are thicker because they havent eroded away to the degree SNE has because of SNEs closeness to the canyons edges....Furthermore the sands are closer to the Gambia River source and as such they will be the heavier sands (the lighter sands travel further away from the source)....heavier sands are coarser....and we want coarser sands not the tight fine sands...
Cath is predicting more oil and very little gas...I havent asked why but have full faith in her teams ability to distinguish....
Anyway, going back to the re-reading of the past announcements....we havent had one instance of a TH for early announcement of results....read into that what you will.
My only belief has been the comment from Cath that she would update the market on milestones achieved.....I assumed that to mean that as each target was hit we would be notified...I think I am wrong.
I now think that her original message stands...and that is we will be getting a full report at the conclusion of the drill....gross column and net pay included.....and as she said...
"A Christmas present for Shareholders"
Yes it will be Cath....A great Christmas for the team as well regardless of the result at Samo because this little company have proven themselves to be extremely capable and prior to Christmas Senegal will be approving the development plan...a milestone in itself...when you go back to 2013 and read through the achievements of the last 5 years its been nothing but astounding...
Maybe we should be wrapping our bottles of Armand de Brignac Brut to send off to Collins St. now...
FAR Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held
(20min delay)