oil & gas weekly - kora comments

I don't recall reading the comments contained in the last paragraph regarding Canadian punters, so I don't think this has been posted before, apologies if it already has.

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Kora well success is a potential gamechanger for FAR ..

Oil & Gas Weekly in its issue dated July 10 examined various small O&G companies including Nido and Kairiki, both of whom have very strong followings and Sun Resources, which doesn't have a similar following.

FAR again, has a large following and is a 'bobn" opportunity (buy on bad news - coined by O&G).

FAR is well cashed up, and hit a pre Kora #1 well spud offshore Senegal and Guinea Bissau of 17.5c in early February before falling to 9/11c in recent weeks.

O&G says FAR's 8.8% beneficial interest in the Kora well, which spudded on June 22 and will be drilled to a depth of 4,251m expected to take 24 days, is a potential game changer for FAR "in much the same way the Chinguetti discovery offshore Mauritania was for Hardman".

O&G says if Kora disappoints, it expects FAR to drop to between 5/6c with potential for a rebound given the acreage it holds in West Africa and if Kora #1 is successful "You will want to be around. FAR will sky rocket. And it will not just be Australian investors throwing in their money. Canadian punters too have already identified FAR as an undervalued counter compared to some Canadian stocks with African exposure" O&G weekly comments..


http://www.elp.com/index/from-the-wires/wire_news_display/1453648069.html