Registered Members Login:
   
Forgotten Your Details? Click Here To Recover +
Welcome To The ShareCafe Community - Talk Shares And Take Stock With Smart Investors - New Here? Click To Register >

1358 Pages (Click to Jump) V   1 2 3 4 > »    
 
  
Reply to this topic

FAR, FAR LIMITED
nipper
post Posted: Nov 9 2018, 05:31 PM
  Quote Post


Posts: 5,201
Thanks: 1920


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!!



--------------------
"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
  Quote Post


Posts: 127
Thanks: 28


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
  Quote Post


Posts: 5,201
Thanks: 1920


Samu-1 , no matter how they spin it, likely to be plugged & abandoned

FAR down 35%



--------------------
"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
 
blacksheep
post Posted: Oct 4 2018, 07:48 PM
  Quote Post


Posts: 5,403
Thanks: 2080


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/#
Attached thumbnail(s)
Attached Image


 




--------------------
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
  Quote Post


Posts: 127
Thanks: 28


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
  Quote Post


Posts: 5,201
Thanks: 1920


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
  Quote Post


Posts: 5,201
Thanks: 1920


QUOTE
"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
 
nipper
post Posted: Mar 6 2018, 08:18 AM
  Quote Post


Posts: 5,201
Thanks: 1920


QUOTE
FAR Ltd chief executive Cath Norman believes it must only be a matter of time before the broader stockmarket catches up to the value that the junior's fellow oil explorers and investment professionals are putting on its "fantastic" set of assets.

But with a share price that has barely moved over the past 12 months, despite significant progress in exploration ventures in Senegal and The Gambia, FAR is inevitably exposed to the sort of cheap takeovers by private equity and other bargain hunters that are typical in the weaker part of the oil price cycle.

"We're vulnerable to anybody at the moment," Ms Norman said in Sydney. "Industry is valuing assets much higher than the market."

Last week's deal for Malaysian national oil company Petronas to invest in FAR's new oil exploration venture in The Gambia saw little market reaction. But Ms Norman said the terms of the deal – where Petronas will pay for 80 per cent of the costs of an exploration well to earn a stake of half as much at 40 per cent up to a $US45 million cap – are reminiscent of deals done when oil prices were much higher than today's $US65 a barrel

"We're haven't seen a two-for-one deal since $US100 oil prices," Ms Norman said, noting Petronas is paying the equivalent of nearly $US700,000 per percentage point of equity, compared to the $US150,000 per percentage point paid by FAR less than a year ago for its original 80 per cent stake. "For us to get those terms is fantastic."

The deal, under which Petronas will also reimburse FAR for spending so far, paves the way for the drilling of the large Samo oil prospect off The Gambian coast late this year. The well is targeting a potential 825 million barrels of oil on the same geological trend as FAR's large SNE oil discovery and has been deemed by consultancy RISC to have an unusually high 55 per cent chance of success.

The well is the only one to be drilled by FAR this year as work in Senegal switches from drilling to development plans for the circa $US3 billion first phase of the SNE oil project, where a final go-ahead is targeted for mid-2019.

The scale of the project, which is targeting start-up in 2021-23, puts a $US450 million funding task on the shoulders of near-15 per cent SNE owner FAR, more than its $423 million market cap.

Ms Norman said FAR's share would be about half funded by debt, potentially involving export credit agencies and commercial banks, and the rest by equity, where various options were under consideration and with no intention to tap shareholders.

FAR shares closed at 7.9¢ on Monday, compared with 7.8¢ 12 months ago, with a range seen of 6.6-9¢ during that time. The four brokers with recent valuations of the stock cited on Bloomberg have target prices of 12-14¢.

The relative heavy funding burden for a junior, the long-term nature of SNE, and the lack of near-term catalysts for the share price given a sole exploration well this year are all seen weighing on the share price. Market sources also point to the lack of appeal of the resources sector to younger investors compared to technology stocks, while an ongoing arbitration case over the Senegal venture between FAR and ConocoPhillips may also be clouding investor sentiment.

Read more: http://www.afr.com/business/energy/oil/far...d#ixzz58uovJvUx




--------------------
"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

Said 'Thanks' for this post: Mork  lgrif  
 
nipper
post Posted: Nov 21 2017, 04:09 PM
  Quote Post


Posts: 5,201
Thanks: 1920


In Reply To: wasabibarako's post @ Apr 13 2017, 01:56 AM

this is helping FAR and also WPL
QUOTE
Oil exploration company Cairn Energy is in talks with BP to sell a 30 percent stake in its deepwater SNE field offshore Senegal, which could be valued at around $600 million, banking sources and a Senegal oil ministry source said on Monday. "We are aware that BP wants to acquire a stake in Cairn Energy, but they are awaiting validation by the state (of Senegal)," an adviser to Senegal's oil minister, who declined to be named, told Reuters by telephone.
https://www.reuters.com/article/us-senegal-..._source=twitter



--------------------
"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

Said 'Thanks' for this post: lgrif  
 
wasabibarako
post Posted: Apr 13 2017, 01:56 AM
  Quote Post


Posts: 2,096
Thanks: 153


In Reply To: nipper's post @ Apr 6 2017, 08:25 AM

nipper: that 80 mio raising did do very well indeed. And FAR's share-price has thereafter climbed up to near 9cents... Looking very solid going forward.
Still a very undervalued stock as far as I am concerned!

wasa

 
 


1358 Pages (Click to Jump) V   1 2 3 4 > » 

Back To Top Of Page
Reply to this topic


You agree through the use of ShareCafe, that you understand and accept the TERMS OF USE.


TERMS OF USE  -  CONTACT ADMIN  -  ADVERTISING