FAR 2.00% 49.0¢ far limited

I'll take a look at it as I imagine board and Managment might,...

  1. 13,528 Posts.
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    I'll take a look at it as I imagine board and Managment might, which IMO is long-term, It would involve minimum risk and maximum reward, while building up a larger Company ..any quick sale of assets, other than that absolutely required to appraise and retain WI , Involves selling assets well below true value.

    For me smaller working interest in two oil fields is better a larger WI in one from a risk and long-term value perspective .

    Although experience gained at SNE would likely speed up the time from discovery to production at SAMO, it would still start later than SNE, so income from SNE could help support SAMO.

    If SAMO came in then the appraisal drilling would be minimal IMO, perhaps 2-3 wells, its a much smaller area and they have a huge amount of data on the sands from SNE ...the Jubilee field only had 3 appraisal wells and some, if not all we're used, not plugged and abandoned...so not massive appraisal costs and combined with a 40-50% initial WI gives a lot of wriggle room to get the appraisal stage done for nothing...or as I have suggested previously, a CR done on a share price spike would not be a silly idea for the longer term, which gives yet more wriggle room with regards to retaining WI which is where the real value lies IMO.

    For Me 13.7% WI in SNE and perhaps a 20-25% WI in SAMO would be a fantastic result for a minnow like FAR...two streams of long-term income while exploring GB or whatever else..

    Meanwhile back in the real world we need to get lucky once again with SAMO, and preferably at the higher end of expectations , if we do then as you say there really are a lot of options and probably a lot of circling sharks...

    One thing for certain is it will not pan out as anything like our imaginations have it..it might even be better...

    Nice just thinking about it having SNE there as a back stop...

    Cheers Whisky
 
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