The true value of FAR, page-29

Hi Ele with a company like FAR you need to imagine what MC would you expect in 3-4 years time for a Company with considerable reserves producing approx 21,000 Bopd or having an anual gross turnover of $ US 540 mil at say $70 oil. After you take off debt and divide it by the number of share you imagine we might have on issue...and thats just for SNE.

In other words its impossible to figure out because we don't know any of the above yet or what the exchange rate or the price of oil will be or how many reserves we will have...there are just to many variables.

If you want a guide to what can happen in a bull market then the KOSMOS experience with Jubilee is a good one, they were offered $US 5 bill for their 24% stake in Jubilee which was just about to produce 24,000 Bopd net to them...less any debt they had incurred getting there...SNE is not only looking likely to be bigger than JUBILEE but will produce at a higher rate...

We will only know when we get there but it should be considerably higher than now after allowing for most contingencies... with 5.5 Bil shares and at 8c our new MC will be around $440 mil...

Cheers Whisky