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Vicious J curve theory, page-2

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zacma

2,314 Posts.

593

04/08/15

08:44

Post #: 15744867
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Originally posted by TONY999 ↑

To me its a race against time.
The POO is likely going much lower in the short term, maybe as low as $20.
The damage being done to the entire oil industry is immense.
That's what the Saudi's want (in cohorts with god knows who?)

They will drive half the industry broke.
There will be hell to pay of course but that is another story.
The upside for any company that can survive this crash is enormous.
Oil will likely explode to $200.
So much capacity will be destroyed, so many companies will go broke and as we know, the long lead times with oil will see this current glut turn into panic buying as supply dries up.

I said awhile back i wish they had of tapped the market earlier and got our cash position up to at least $70 to $80 million.
Now it is a matter of if we can hang on.
We are reasonably positioned but it will get hairy.
We are going to be tested.
Nerves of steel required.
Good Luck.

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Hi Tony
(Besides that one should buy a rope to hang oneself on your news) I suspect that the worst case scenario would be for FAR selling some equity in Senegal to CNE or COP. Not desirable but not the end of the world. I find it difficult to imagine that our partners would want to destroy us, business or not.

FAR Price at posting: 7.5¢ Sentiment: None Disclosure: Held
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(20min delay)
Last 48.5¢		Change 0.010(2.11%)		Mkt cap ! $44.81M

Open	High	Low	Value	Volume
47.0¢	48.5¢	47.0¢	$24.68K	51.24K

Buyers (Bids)

No.	Vol.	Price($)
1	7400	48.0¢

Sellers (Offers)

Price($)	Vol.	No.
48.5¢	75039	4

View Market Depth

No.	Vol.	Price($)
1	28150	0.470
3	160000	0.465
1	30000	0.460
3	135000	0.455
6	327456	0.450

Price($)	Vol.	No.
0.485	11247	1
0.500	21015	4
0.520	25000	1
0.550	12285	2
0.590	5000	1

Last trade - 15.42pm 25/06/2024 (20 minute delay)

FAR (ASX) Chart