Rig Move, page-34

Dear H

1. As at the time of my this post my shareholding in FAR (or more strictly my wife's) is 1,545,768 shares.

2. I don't work for anyone.

3. That my posts are negative is your perception. I am just interested in clarity and truth, though with the current information we are give by the JV that's hard to find.

4. My rationale for holding has been stated previously and is reproduced below:

I originally purchased most of the shares I hold because I felt FAR (based on source rocks at Fan and the initial high quality exploration results at SNE) had turned from a "sell before spud spec" into an almost unique opportunity for a long term investment in the oil sector (which after all these years I do feel I understand something about).

I although I no longer take that statement of long term intent to necessarily mean that I am not averse to trading a few, in the beginning the thesis was that with work done in proving up reserves and exploring in a low risk environment, discounts for time to development becoming automatically built back in, and obvious takeover appeal, this would all translate into an oil investment that would at least provide some protection against further falls in the oil price, earn me better than bank interest, and importantly for me, give me a daily interest and something to discuss on HC!

Indeed that has so far turned out to be the case, surely FAR over the last year has been the best performing oil stock on the ASX?

From here we hopefully will now see progress, but my expectations are more moderate than some and I try to base these on an analysis of the information we are actually provided with. I consider it prudent to include the chances of failure as well as success and avoid the hype of terms such as transformational, world class, bumper, elephantine and huge without reference to our market cap.

pj