Oil glut is our biggest impediment, page-24

Good post Dr Daz...wish I could give you 10 thumbs up!

There is no other fundamental issue with FAR other than the price of oil....and it is affecting the SP only.

Low oil equals low rig rates..... simple

The company and its team and its JV partners are moving along as per plan. Lots of seismic and the drill is turning and we have a massive team of geos on the spot.

This oil price slump will be followed by an even more acute upswing before too long because of the exaggerated drop-off in exploration/development activity.

China, even at 7% growth is still putting tens of thousands of new cars on the road every week and so is India and many of the rising SE Asian countries. Oil is still being stockpiled.

Management have the qualified team to see us through to value and credit raising/SP consolidation/asset sales etc. are IMO, in excellent hands...time and patience will see us all rewarded.


Aqua ,,,if you read this can you give me your thoughts on whether you think Tim could be interested in representing my/your/others shares. I know you are in contact with him and I couldn't think of a better proxy. Your opinion on the facebook page would suffice, thanks.

CV