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FAR, FAR LIMITED
nipper
post Posted: Dec 10 2019, 12:13 PM
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QUOTE
... conditional placement of $146mill for Senegal.

It was priced at 4.25¢ a share, which represented a 12 per cent discount for FAR's five day volume-weighted-average-price, according to terms.




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
bg99
post Posted: May 11 2019, 03:39 PM
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In Reply To: nipper's post @ Apr 30 2019, 07:30 PM

MC now $407m, that is a big jump in 2 weeks on no news.

 
nipper
post Posted: Apr 30 2019, 07:30 PM
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ell Potter Securities' equities desk has launched an after-market raising for African oil and gas play FAR Ltd. - seeking buyers for 819 million new shares to raise about $45 million.

The raising, to be done via a placement of new shares, was at 5.5¢ a share or a slim 1.8 per cent discount to its closing price on Tuesday.

Funds raised were to put towards its 15 per cent stake in the SNE Field development project in Senegal and for preparatory work for its 2020 drilling program, according to terms sent to potential investors.

Bell Potter launched the deal late on Tuesday and was seeking bids by 4pm on Wednesday.

FAR Ltd had a $305.8 million market cap as at its last close.




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Nov 9 2018, 05:31 PM
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In Reply To: bg99's post @ Nov 9 2018, 05:26 PM

QUOTE
first expected oil bearing zone
seeing oil is found on top of water, and gas / condensates above that, the first encounter with water would have snuffed out the speculation even earlier!!



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
bg99
post Posted: Nov 9 2018, 05:26 PM
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In Reply To: nipper's post @ Nov 9 2018, 09:10 AM

Jeez ....

whatever happened to

"we look forward to making updates as we reach important milestones"

quote from announcement Oct 23rd.

There should have been something as they went through the first expected oil bearing zone, not one announcement at the end of the drill.






 
nipper
post Posted: Nov 9 2018, 09:10 AM
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Samu-1 , no matter how they spin it, likely to be plugged & abandoned

FAR down 35%



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 

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blacksheep
post Posted: Oct 4 2018, 07:48 PM
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In Reply To: bg99's post @ Sep 22 2018, 07:47 AM

Three ASX listed oil juniors get a mention in Masterinvestor - UK publication run by Jim Mellon - "Riding the oil super-cycle" an interview with Angelos Damaskos of The Junior Oils Trust - https://www.junioroils.com/wp-content/uploa...1808_update.pdf

He mentions his top 5 juniors - their largest holding is CVN, the other two ASX listed jnrs are FAR and COE

The article can be viewed on p10 - https://masterinvestor.co.uk/magazine/#
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: wasabibarako  
 
bg99
post Posted: Sep 22 2018, 07:47 AM
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In Reply To: nipper's post @ Apr 27 2018, 10:52 AM

Not long until drilling now Samo now...... time running out if you want to punt on this one, sp up 50% from 6 months ago

https://www.asx.com.au/asxpdf/20180913/pdf/...9dz9mmcfg01.pdf

 
nipper
post Posted: Apr 27 2018, 10:52 AM
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FAR contacted a drillship for late 2018, to drill the exciting prospect.

... and the SP moved above 9c for first time in two years. Technicals may make something of the push through support lines, or it could be that people now sitting up and noticing.



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Mar 27 2018, 04:24 PM
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"In the last three years the markets for oil have just been decimated, but we're coming out of that cycle," said Cath Norman, who has run FAR since 2011. "There's been a lack of project sanctions globally and there's a lot of money around looking to be put to work, so we're getting a very good reception when we've gone out to talk about funding."

The big SNE field was discovered in 2014, not long before oil crashed on the realisation OPEC was not going to hold up prices by cutting production to counter the US shale oil onslaught. FAR has a 15 per cent stake in the field after farming down its interests to fund drilling.

Ms Norman said she did not expect to raise equity to fund what would be a roughly $US450 million first-stage share for the company. She said about half the cost would be funded by project debt and the rest, $US225m in FAR's case, would be funded by the partners.

"We're already starting to look at how to access it, not by issuing scrip, but looking at other means of finance, such as mezzanine finance, forward selling our oil or streaming," Ms Norman said. "I doubt we'll go to the (share) market for any funding."

The joint venture is due to put out a joint assessment of SNE in June and then submit a development approval plan to Senegal in September. A financial investment decision is targeted for 2019 and first oil is expected in 2022.
https://www.theaustralian.com.au/business/m...60ebdcc76f47503



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
 


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