FAR (ASX) The FAR success story

Originally posted by LNC-Link ↑

Far have Succeeded!......Great news!

Successfully secured great leases!

Successfully interpreted and analyzed those leases!

Successfully farmed out 2 exploration wells on great terms with majors!

Successfully hit 2 VERY large oil deposits from 2 wells!

Successfully raised $46million at 11cps to carry them through to the next stages!

All the above make for one of the most exciting success stories for many years for a junior oiler. A success story that can be compared with the best in the last 10 years....this major oil basin find is a real company maker for FAR!

Now we await the next successes;

More oil in FAN-1, farmout in Kenya and the appraisal drilling program which will determine the size and extent of FARs' oil holdings inclusive of the other large fans and all of the buried hills formations which have now been derisked.

All of which when finished will elevate the oil find into the sub-commercial category ...whats called contingent resources.

Contingent resources that will get focused attention from other majors who are looking to replenish their dwindling reserves and also attention from countries around the world who will be looking for alternative oil supplies/suppliers.

The latest fluctuation in the SP has been a boon for market manipulators and traders who love the volatility.

This particular round of volatility has been accentuated by "PROXY" bad news. Bad news that was not there. Perceived bad news....in effect just poor sentiment!

Any position holders/traders that came onto the stock hoping for a quick bounce and a quick buck could have been caught short IF THEY SOLD!. Other investors who set stop losses or who panicked and sold will have lost money.

Adept traders will have made good money....adept market manipulators will have accumulated cheaper stock.

The world goes on,

Well done to CN and the team who have managed to elevate FAR into a much more valuable company than it was just 3 months ago.

Thank you to JP, Aqua, YA and all the other contributors to this forum that have managed to provide more scope on FAR than any other stock on the HC forum. I have used your inputs along with my own research on FAR to help accumulate a decent holding in this stock that will be VERY rewarding to me within the next rear.

Good luck to all the holders and for any one else who are about to jump on board FAR.....enjoy the success!

But PLEASE do your own research and dont try to blame anyone for your own laziness or inexperience!

Expand

Concur...and the 'proxy bad news' is very pertinent.

Take for for instance a scenario of SNE-1 missing in the Albian (sands) but hitting in the Aptian (carbonates)...perception and short term price movement yesterday would likely have been positive (even though I believe Far/we are clearly better off with a bigger than expected resource in the shallower sands that are believed to have continuity throughout the lease, as opposed to only having success in the deeper and more technical - read more expensive and marginal - carbonates)...to me just indicates how fickle the market takes the news.

Huge success in my books!

No.	Vol.	Price($)
1	19418	50.0¢

No.

Vol.

Price($)

19418

50.0¢

Price($)	Vol.	No.
51.0¢	129688	3

Price($)

Vol.

No.

51.0¢

129688

No.	Vol.	Price($)
1	19418	0.500
1	47555	0.495
2	29755	0.485
4	89930	0.480
2	70000	0.475

No.

Vol.

Price($)

19418

0.500

47555

0.495

29755

0.485

89930

0.480

70000

0.475

Price($)	Vol.	No.
0.510	129688	3
0.520	109917	4
0.525	60000	2
0.530	60000	2
0.535	115000	3

Price($)

Vol.

No.

0.510

129688

0.520

109917

0.525

60000

0.530

60000

0.535

115000

(20min delay)
Last 50.0¢		Change 0.005(1.01%)		Mkt cap ! $46.20M

Open	High	Low	Value	Volume
50.0¢	50.5¢	50.0¢	$12.37K	24.61K

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