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49.5¢ far limited

Rolling, you state you will sell at 50 cents, if FAN-1 and...

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Far2d2

385 Posts.

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04/01/15

22:37

Post #: 14534805
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Originally posted by rolling ↑

Prior to appraisal drilling i'm happy if someone wants to offer me $7/barrel for 15% of 1.5 billion barrels at FAR's current A3b. = $0.50. $0.50 is the most I think holders should expect. To carry the risk above 1.5 billion and $7 is too great.

At the appraisal drilling stage I think we are likely to have closer to 4 billion shares on issue, equating to $0.35, based on the equation above.

Of course sentiment will play a major roll in the risk/reward profile and hence the blue sky that we see built into the share price. But i'm more than happy to risk anything above 1.5 billion barrels and $7 in the current and expected nearer to medium term market.

I know many have said FAR is an explorer, not a producer, so Senegal should be sold down. Well exploring hasn't proved too successful for FAR. There is a reason for 3+ billion shares. Exploration is difficult and a Senegal in the hand is worth umpteen Kenya's, so move on if the opportunity is offered.

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Rolling, you state you will sell at 50 cents, if FAN-1 and surrounds to actually have more than 6B+6B, and SNE-1 is a rumoured 1B, would you still sell at 50 cents?

FAR Price at posting: 9.4¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 49.5¢		Change 0.003(0.51%)		Mkt cap ! $45.74M

Open	High	Low	Value	Volume
49.5¢	50.0¢	49.5¢	$25.15K	50.41K

Buyers (Bids)

No.	Vol.	Price($)
1	90217	49.5¢

Sellers (Offers)

Price($)	Vol.	No.
50.0¢	10000	1

View Market Depth

No.	Vol.	Price($)
1	90217	0.495
1	99999	0.490
3	114597	0.485
4	260000	0.480
1	100000	0.475

Price($)	Vol.	No.
0.505	10000	1
0.510	12672	1
0.515	120000	2
0.520	149917	3
0.525	118000	2

Last trade - 15.59pm 14/08/2024 (20 minute delay)

FAR (ASX) Chart