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Anyone else think that FAR's current chart looks like an ascending triangle ?

I have to admit I thought it was all over pre Shell coming in for a look but a quick glance of their recent presentation seems pretty good -especially current cash and of course the strong possibility that Shell will sign on . Good luck to you all . Hope you all get a rich reward soon .



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Olivia, I found this whilst reading some posts at another site :





"Extracting oil would be simple if it were found in huge underground lakes. However it's always more complicated than that. Hydrocarbons are held in porous rocks like water in a sponge, often in concentrations that are broken up and spread across a large area, making them difficult to find.


3D seismic image

Seismic surveys are the most powerful tool that exists to understand what is going on beneath the surface of the earth. First used in the 1920s, the technology uses sound waves generated by small explosions or vibrations at the surface that reflect off underground rock layers. Interpreting the signals that come back is key to understanding what is down there and how to reach it.



Today sophisticated software is combined with massive computing power to translate the data to very high-resolution 3D images, or models, that reveal the unique features of a reservoir. Over the years, Shell has developed, combined and adjusted increasingly advanced programmes to help our geophysicists process huge quantities of seismic data. During the processing, these programmes enable them to filter out distortions caused by underground obstacles such as layers of salt and volcanic rock ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“ letting them see features in the subsurface that are simply not visible on conventionally processed seismic.



With the models in place, geologists and engineers in different locations can then view them simultaneously using ShellÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s 12 interconnected virtual reality centres around the world. The same 3D image appears to float in the air in front of them allowing them to see above, behind and below the reservoir. This real-time collaboration with such detailed imagery means faster and more accurate decisions can be made on where to drill wells and the best way to develop a reservoir.


Splitting the difference

Seismic data at sea is usually gathered using a single boat that both sends and receives the seismic signals. When volcanic rock or salt is present under the seabed, however, the signals become distorted and whatÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s below is hard to interpret. By splitting the process and separating the signal sender and the signal receiver between two boats, Shell has been able to shoot seismic at an angle, getting underneath problematic structures. This technique helped Shell win exploration rights for no less than 67 blocks in a Golf of Mexico lease sale in 2007 which is a success rate of more than 70 %.



Electro-magnetic surveys


While seismic surveying and imaging are central to our success they are part of a suite of technologies that we use to explore areas faster, more thoroughly and with more certainty. In recent years, for example, we have had great success with the new technology of electromagnetic surveying, providing increased certainty that we will hit the right spot when we go in to drill an exploration well.



The technology works by towing a powerful electro magnetic (EM) source close to the seabed (rather than on the surface as with seismic). This source sends out EM signals in to the subsurface which then bounce back and are captured by receivers on the seabed. The type of signals that return change depending on how strongly a material opposes the flow of electric current. While this technology is available on the open market, we are able to apply our own processing algorithms and techniques to the data to give us even more enhanced information. Our approach of integrating technologies to optimize our exploration program has enhanced our success rate in recent years - in deepwater Malaysia and Nigeria we have made 19 discoveries from 25 deepwater wells drilled between 2001 and 2007."

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From Comsec (not on far website yet)





The objective of the programme is designed to enable Shell to determine whether or not to exercise an option ("the Option") to acquire a 70 percent interest in the Licence Area and enter the second renewal period that includes a well commitment. Shell has 90 days from the completion of the Data Acquisition phase to decide whether to exercise the Option.


FAR has been advised by Shell that the Data Acquisition phase was completed on 28 May 2009.



Fingers crossed now.


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  • 3 weeks later...
buying interest returning... Twiggs money flow (www.incrediblecharts.com) turned +ve; ST EMA's bouncing off the LT EMAs and also crossing over, pointing to further upside if patttern continues. Maybe some news re Shell due soon?


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Don't have a clue how charts can be useful with these small oilers, but I don't know a lot about charts. All I can see from years of watching FAR is that we ARE influence by the DOW. We ARE influenced by ANN's. and ramping....


We just have to wait this one out for the big money, unless you are having fun trading. Then of course, you stand the risk of being left out when the trading halt appears on your screen.


I DO NOT want to be in that situation AGAIN !!!


Still traveling in the RV and presently in the Mural Capital of the World.... Chemainus, BC Canada



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I agree wholeheartedly, about the uselessness of charts on these stocks. You and I live in the real world !


Nice mural in Quebec City. Just parked my RV, after one month detecting in the WA goldfields. Make more money on the gold stocks, but not as much fun.







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