FAR

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Why you think FAR would get 50% more for 15% of SNE than CNE is...

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El Jefe

6,066 Posts.

882

29/11/17

13:30

Post #: 29215574
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Originally posted by jctl ↑

Latest Q&A video from FAR. It talks about the SNE RISC audit which is due soon, and says that the RISC Audit will increase the 2C and reduce the 3C – all as expected as the drilling has increased the reliability of data towards the 1C (higher confidence) end. It also says that FAR is more excited about the Gambia, which they expect to eventually dwarf their SNE holding.

There is no way that someone will not make a try at a takeover of FAR in my opinion. This current shorting is probably warehousing at 7.8 cents per share.

The current SNE 640 Million barrels @15% for FAR @ $US10 per barrel @ FID @ 0.9x to bring to current dollars is worth NPV $US864M (or $Aus1.15B). They hold 80% of Gambia estimated @ 1.1B barrels (864M barrels in Samo) on a P50 basis (or 926M barrels to FAR).
DYP
Latest Q&A video from FAR. It talks about the SNE RISC audit which is due soon, and says that the RISC Audit will increase the 2C and reduce the 3C – all as expected as the drilling has increased the reliability of data towards the 1C (higher confidence) end. It also says that FAR is more excited about the Gambia, which they expect to eventually dwarf their SNE holding.

There is no way that someone will not make a try at a takeover of FAR in my opinion. This current shorting is probably warehousing at 7.8 cents per share.

The current SNE 640 Million barrels @15% for FAR @ $US10 per barrel @ FID @ 0.9x to bring to current dollars is worth NPV $US864M (or $Aus1.15B). They hold 80% of Gambia estimated @ 1.1B barrels (864M barrels in Samo) on a P50 basis (or 926M barrels to FAR)

DYOR

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Why you think FAR would get 50% more for 15% of SNE than CNE is rumoured to be getting for 30% along with operatorship?
In my way of thinking 30% with operatorship would attract a premium compared to a 15% stake or at best on par % wise….

Last edited by El Jefe: 29/11/17

FAR Price at posting: 7.6¢ Sentiment: None Disclosure: Not Held
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Last 47.0¢		Change -0.015(3.09%)		Mkt cap ! $43.43M

Open	High	Low	Value	Volume
47.0¢	47.5¢	47.0¢	$9.995K	21.23K

Buyers (Bids)

No.	Vol.	Price($)
3	82233	47.0¢

Sellers (Offers)

Price($)	Vol.	No.
48.0¢	50000	1

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No.	Vol.	Price($)
2	71033	0.470
1	50000	0.465
1	50000	0.460
1	1822	0.450
1	3000	0.445

Price($)	Vol.	No.
0.480	50000	1
0.485	50000	1
0.490	54000	2
0.510	100895	2
0.520	225286	3

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FAR (ASX) Chart

Why you think FAR would get 50% more for 15% of SNE than CNE is...

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