Tony,
Fortunately I still have a job in the oil and gas services industry - the sector has been decimated. I can't begin to tell you how tough it is to win what little work there is at the moment. Projects are in prolonged state of hibernation due to the bearish sentiment around oil and investment has dried up. Management who are left are working their socks off to try and get deals done and marginal projects off the ground. I am certain the management team at FAR are working their socks and bollocks off to get the best outcome for shareholders. Complaining about management on this forum doesn't help the situation but obviously provides an outlet for frustrated shareholders.
I've held FAR for 8 years and have gradually increased my modest holding (I am just ahead!!). FAR was recommended in an oil and gas industry rag the company I subscribed to - the mystique of the Senegal blocks were the attraction and the price of 12c a share. I admit I thought things would have panned out differently and quicker when I first ventured into FAR. I still feel gutted about Shell bailing out on us years ago!! There are many global events out of the control of FAR management but I am pretty certain they will be working on what transactions they can influence as best they can.
IMO there is a lot more upside to FAR than downside no matter what occurs with Woodside / COP and PE rights. Unfortunately you do need to be patient and roll with the punches - no doubt a few more punches to come.
Cheers
BF
FAR Price at posting:
7.6¢ Sentiment: Buy Disclosure: Held
(20min delay)