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In reply to: IGO4IT on Thursday 11/05/06 06:24pm



I still have mine and bought some more today at 23.5 http://www.sharescene.com/html/emoticons/ohmy.gif was just about to pull the order and had internet problems and then 2 minutes later when I got back on line someone had dumped a whole lot at that price http://www.sharescene.com/html/emoticons/sad.gif


Ah well, not really bothered as I really am in for the long term. Did u pick up any more today?

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Hey Top cat,


I got a small parcel today at 24c early in the morning because money in bank account gets me itchy http://www.sharescene.com/html/emoticons/weirdsmiley.gif


I'm more of a long termer BY FORCE, this year I had a good run & I can't sell until next FY otherwise I'm going to give away a lot of money to CGT early next year http://www.sharescene.com/html/emoticons/smile.gif


I'm still expecting to see end of 20s before we go down to 20c. looking at our fund. dates coming ahead, there's ann tomorrow (or monday) & another on end of next week so I'm comfortable & not worried about any drop.


I'm usually in any stocks with 2 positions, 1 long term & other short term, but since I can't have any short term so I'm just buying more & more & the more it gets down I have to keep buying as I can't sell now http://www.sharescene.com/html/emoticons/weirdsmiley.gif

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QUOTE (rslade @ Thursday 11/05/06 07:05pm)



Did you buy based on anyone's recommendations?? if you did, you shoudn't !!


in forums like here, each 1 of us has a crystal ball on their desk seeing the present & future in many forms & shapes.


During the years, on this forum & others you'll notice that after a price spike many disappear & many stay on board & new guys come in.


if you don't trust any company FOR YOUR OWN LOGICAL REASONS & CALCULATIONS to hold its shares then you shouldn't. this is an advanced medi-evil game, we all fight for ourselves in many ways & shapes but we get to communicate during, before & after the fight http://www.sharescene.com/html/emoticons/smile.gif


if you or anyone think that selling is a good choice then you should sell because no one will give you your lost profit if SP dips, same with profit, no one will share your profit if you hang on & run continues.


Loyality here is for money & the smartest who can stay alive or (if smart enough) make money.



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Fully diluted, after excercise of CN's and pending issue completion FAR's market-cap will be approx $93M, a very rough break-down to determine NTA and other assets.


- cash of $26M


- income of approx $4M pa, apply a PE as you see fit.


- pending income from Eagle


- pending income from multiple-wells in coming months from Clear-Hills


- pending income from Kakwa secondary targets, with hopefully success in the Waburn primary objective big-time income from here


- recoup interest in the order of $1.5M from gulf-coast 3D seismic project


- Gulf drilling program commencing in 8weeks


- Drilling in Canning Basin starting in the next 3months, adjacent previously producing field, success here worth upto 10cps!


- WA 254 OIP, once Apache decides to drill, likely end of the year more reserves for FAR


- T/18P FAR has small ORR


- China looking the goods, assuming that reserves are proven up and previous accumulations are incorporated into a development plan FAR is likely to 'own' 2.5mmbo oil in place after CNOOC backs in. This alone is worth more than 10cps NOW in discovery value and any development would add value (obviously FAR would need to cover CAPEX)


- Plenty of other US upside to mention, worth a few cps, not to mention the occasional company maker SGT . . .


So it is pretty easy for FAR to justify a SP of 25cps (even 35cps imo) right now, BUT we have coup of the year, we have a 30% interest in 14981sqkm of offshore license exploration area in Senegal in joint venture with one of the most aggressive oil/gas explorers around, HUNT OIL are we are looking for the Elephants.


Personally in the current energy environment, in 4-5months time when seismic commences in Sangomar-Rufisque these 3blocks will be able to justify the FAR SP on their own before any exploration success, upon possible success add a few more 000's to the valuations made above.


Again, not preaching just telling it like l see it - and l have put my money where my mouth is and to date (fortunately) it has started to pay-off, but l am under no illusions that it is all over. I've taken a trading profit, stupid not to if l can see an opportunity but continue to hold all my holdings for a long time yet.


Must say, yes one of the best threads on SS if not the best!

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In reply to: King Baz on Thursday 11/05/06 10:28pm

Great summary KB,


I am assured that we now have 5 institutions coming on board but they probably will not buy until after the placement is confirmed.


Then we should see some serious support.









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In reply to: King Baz on Thursday 11/05/06 10:28pm

Keep telling as you see it KB http://www.sharescene.com/html/emoticons/lmaosmiley.gif


Thought I was going stupid here then realised that MR Moderator had been at work http://www.sharescene.com/html/emoticons/wacko.gif



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