Hi Chandler J
I agree with you. The question is where is the value created. The acquisition of seismic in L6 will add value as it will decrease uncertainty. The timing is perhaps a bit early but could be driven by availabliity of seismic vessels.
Companies the size of FAR should not be drilling holes. Most exporation wells have a risk of failure of 70% or more. The risk of loss is too high for a small company, particulary where it is not part of a broader portfolio of activities. If the prospect is good enough someone will farmin if the terms are right. If not why risk your own money on a prospect which does not satisfy the test of peer review.
Greed in this business is dangerous.
no need to poke around blindly, page-9
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