Resource upgrade estimates, page-6

A significant upgrade seems a formality. Thicker-than-expected sands in the east and 'instant connectivity' between the pulse and listening wells suggest the increase could be large, although the jungle drums are beating out more subdued expectations. We shall see in 13 days time.

Every hundred million barrels is 15m to FAR, or on Cath's numbers $US60-120m. (A rather more paltry $US30m on COP's fire sale basis.) Thus, a one-third increase in resource ought to grow FAR's value by circa $US120-240 million, or roughly $AUD150-300m, or more roughly 2.7-5.4cps.

So the more pertinent question might be whether or not we think the resource upgrade will reflect in a higher share price?

And based on FAR's track record - and a complete absence of buyers - you would suspect maybe not.

OOO

PS: I am hopeless with decimal points; I hope those numbers above are correct.