FAR was a classic oiler trade which is to buy well in front drilling and sell on or before the spud. The best oilers are small market cap companies which are well funded and are drilling a very large oil or gas target. Buying very early allows a lot of leverage, often 50 to 100% profit, (but buying early can sometimes also get you into the danger of market slides, there is no such thing as a free ride). There is no rule book on when best entry is, they are all different and sometimes good % profit can be made by buying much closer to drilling.
Some typical trades similar to FAR around right now are TPT and PVD. Some research will show these companies have good cash in the bank and are drilling in the next 12 months, with rig contracts locked in.
This type of trading needs some bravado to buy when nobody is, and a similar amount of bravado to sell when everyone else is buying.
Some looking around the oiler threads will show there are plenty of hotcopperites making these trades.
