Tweet - FAR 12 Month Value Drivers, page-72

who cares / irrelevant / rabbit hole discussion

but if you need a response to a question that has no impact on the value of the FAR business, then i digress:

Another time people were yahooing and despondent about the buy and sell spreads was October last year. We had successfully negotiated a great deal with PETRONAS, yet the SP went down and hovered between 6.7c and 7c and there were walls of sellers sitting at around 7c and it just couldn't get over it. The oil price was on a steady rise upwards also. The shorts were increasing. The vibe was one of frustration and short term annoyance and greediness.

The SP then doubled over the next 10 months on almost no new news (even though we were 'reliably' informed that the news vacuum would lead to further SP depression).

Not much makes sense if you hold an exploration company with years until production and you look at the SP or market depth every hour and draw conclusions.