Freehold, I agree the dust will probably settle at high 4's, low 5's and this is a day trading bonanza.
But you need to realise that although FAR has not spudded any wells in Senegal, their PCL/BG neighbours have spudded their Sunbird well in Kenya that is being drilled as we speak. It may or may not be to early to know if this has been a success, but you are incorrect in saying their cannot be a news leak. There are some other news relevant info on the horizon as well as the quarterlies will suggest.
Potentially: Farm Out of L6 offshore, Other license acquistions in Africa, London SX listing for example
As I sad I agree with your short term outlook, but I would not discount potential news flow
FAR's medium to long term success looks strong.
over 101,000,000 turnover, page-17
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Last
48.0¢ |
Change
0.005(1.05%) |
Mkt cap ! $44.35M | |||
| Open | High | Low | Value | Volume |
| 48.5¢ | 48.5¢ | 48.0¢ | $50.53K | 105.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 6785 | 48.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 49.0¢ | 9310 | 2 |
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| Last trade - 12.48pm 07/08/2024 (20 minute delay) ? |
| FAR (ASX) Chart |