Agreed .. I think anything will be "material" to the share price simply because of how long we (the market) have waited@! This is what FAR said in the drilling update:
"Drilling and coring of the SNE-2 well is currently progressing as prognosed. After this a logging and flow testing program will be completed."
So if things are going to the 5 week plan for drilling they will be at or near TD now and will have cored along the way. The cores will take a while to analyse so they will as a minimum need to have completed the logging before announcing TD and details of hydrocarbons encountered (standard stuff) ... oil column and quality. So depending on how long this takes we may hear something within the next week. I don't see why they wouldn't report this to the market just because its appraisal rather than exploration drilling. As someone else said .. its material to the market that they have hit oil and that its not a duster!
There are no signs of a dud ... volume has been very very low. And the vibe from the EGM was positive and smiling.
H
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Last
46.5¢ |
Change
-0.005(1.06%) |
Mkt cap ! $42.97M | |||
| Open | High | Low | Value | Volume |
| 47.0¢ | 47.0¢ | 45.5¢ | $31.34K | 67.88K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3338 | 46.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 47.0¢ | 199900 | 2 |
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| Last trade - 15.59pm 13/09/2024 (20 minute delay) ? |
| FAR (ASX) Chart |