# FAR - FAR Limited



## doctorj (14 February 2005)

This oil/gas coy has been around for donkey's years with a share price that has made a few solid runs over the years only to fall back down again.  It's currently sitting just shy of 8c up a cat's whisker on some unexpected preliminary good news today.  The rumour mill has been working over time on this one and results of its drilling at Welder Ranch (TX), along side a large gas hole owned by Santos, are due in the next week or so.  All indications are that the news will be very positive.  Their options that expire in July are trading at a premium to the share price of about a cent.

They are expecting to begin production at Bay Courant in the next few weeks and they expect to begin drilling in February on another hole where the target it 3-5mill barrels (one sharescene poster claims this could be worth about 31.2m to FAR and 16.5cps - I've not checked the maths though this clearly does fall in to the too good to be true dept.)

Here's the chart.  I'm considering going long on FAR but am waiting for the Technical Entry.  Your thoughts and comments are greatly appreciated.


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## doctorj (15 February 2005)

*Re: Speccie - First Australian Resources (Far)*

I don't suppose anyone has any more insight into this?


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## RichKid (15 February 2005)

*Re: Speccie - First Australian Resources (Far)*

FAR looking a bit toppy to me with those last few candles looking spikey. Not much volume either. Bottom of last run is near long term support next time it approaches/bounces off that may be a lower risk entry. Last run was above the long term support though, maybe it'll become parabolic instead of linear support. Not too keen on the chart atm due to better candidates but if it breaks free on volume from last week's high I'll be impressed.


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## doctorj (15 February 2005)

*Re: Speccie - First Australian Resources (Far)*

Volume is the issue I feel with FAR.  There aren't that many shares on offer when compared with other companies of a similar cap and many are tightly held.  This is the only thread on FAR as best I can tell - certainly the only one I've made.  The $0.001 climb and the low liquidity is the killer for this stock.  Never the less, they seem to have a lot of potential in the ground.  Do you have experience in trading (or investing) in tightly held stocks?


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## RichKid (15 February 2005)

*Re: Speccie - First Australian Resources (Far)*



			
				doctorj said:
			
		

> This is the only thread on FAR as best I can tell - certainly the only one I've made. .... Do you have experience in trading (or investing) in tightly held stocks?




Sorry about the mention of the thread, I got mixed up, I edited it out.

I avoid thinly traded/tightly held stocks as I'm worried about slippage, large spreads, unmanageable volatility etc. Volume is not the best indicator on thinly held stocks imo so you'll be going on price unless you're watching everyday and buy in on a one day spike on high volume, another reason I avoid em as I don't day trade. 
My basic view is: better candidates elsewhere, don't fall for the stock, it's just a graph with numbers and lines, find a prettier picture.

Having said all that I bet FAR will just go through the roof ; ) to prove me wrong.


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## doctorj (16 February 2005)

*Re: Speccie - First Australian Resources (Far)*

Forgive me for obsessing, but would this look like a cup and handle to you guys?  Someone asked this over at sharescene, with a query on the tiny handle.


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## doctorj (7 March 2005)

*Re: Speccie - First Australian Resources (Far)*

Time to mention this one again.  Welder Ranch has proven to be a nice, unexpected bonus for FAR and has provided a basis for it to break out from its 9 year down trend today.  Dune Energy, FAR's partner has requested no more updates on their joint project until target depth is reached and the well evaluated.  Early problems were caused by significant amounts of gas coming through the side of the well.  A concrete liner has since been run successfully and they have begun drilling to target depth of 13,000ft. Welder Ranch is on the property next door to a significant Gas project owned in part by STO.

Last week FAR has begun a series of broker presentations, which by all accounts has been very well received and has coincided with some good price action.

FAR has been around a long time, has an established cash flow and has several drills planned over the coming 12 months.  Bay Courant is due soon, and SGT is waiting for a rig for spudding.  SGT is hoped to have "company maker" potential for FAR due to its geology, but in the meantime Welder Ranch offers a nice bonus.

For those interested in options, there is FAROA with a July Expiry and a 7c strike price.  At today's open they had about a 1c time premium in their price.   As of close today, they have no premium, last trade at 3.5c.

This definately is no NMS, but its fundamentals are very positive and technically, the break from the down trend is certainly not a negative.  Expect some volatility, particularly until Welder Ranch's results are released.  In the meantime Dune Energy (DENG) might provide some more indication to FAR's short term direction.

---
Disclosure: I hold FAR and FAROA.  The warning to do your own reseach, as below, counts double for companies like this.  Remember if there was no risk, the price would never go up - or down for that matter.


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## canny (8 March 2005)

*Re: Speccie - First Australian Resources (Far)*

Hi doctorj
I've been a long term holder of FAR and expect to see it up in the mid teens fairly shortly.
Next week should give us the end result of Welder - the broker presentation was great and triggered some healthy buying.
Anyone buying in now should be pretty pleased with themselves over the next few months in my opinion.


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## doctorj (15 March 2005)

*Re: Speccie - First Australian Resources (Far)*

It will be interesting to see what tomorrow brings for FAR after this annoucement from its partner at Welder.



> HOUSTON, TX--(MARKET WIRE)--Mar 14, 2005 -- Dune Energy, Inc. ("Dune" or the "Company") (OTC BBENG.OB - News) announced today that it has made a significant natural gas discovery on its Welder Ranch property, located in Victoria County, Texas. The location for Dune's Vaquero #1 well was drilled utilizing 3D seismic interpretation, in conjunction with extensive geological and engineering analysis of leases acquired by the Company during 2003 and 2004.
> 
> The Vaquero #1 encountered significant stacked zones totaling more than 100 feet of gross pay at various depth intervals between 9,000 and 14,000 feet in the Middle Wilcox formation. In order to fully and efficiently develop the numerous pay horizons present, Dune intends to drill several offsetting wells. Testing of the highly geopressured well will commence immediately, to be followed by actual production and sale of natural gas.
> 
> ...




Source: http://biz.yahoo.com/iw/050314/082605.html


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## canny (23 March 2005)

*Re: Speccie - First Australian Resources (Far)*

Looking good - and a good mention in the fin review yeterday too.
I'm hanging out for the next ann.


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## doctorj (9 April 2005)

*Re: Speccie - First Australian Resources (Far)*

In light of NEO getting some air time, I thought I'd bring FAR up again, with mention of some news (or possibly rumours from hopeful, overzealous holders).



> Their latest WEEKLY DRILLING UPDATE REPORT on the 6th, mentioned the SGT well for the first time this year, based on all the other updates in 05.
> 
> >> Schwing #1 Type: Gas wildcat Location: Bayou Choctaw, Iberville County, Louisiana. Status: Currently awaiting the drill rig to move onto site.
> Target Depth: 11,600 feet
> ...




Who knows.  That said, SGT drilling in time for the options is massive, given the potential impact on a CPS basis of the SGT site.  Information in the recent investor presentation indicates a potential impact of 100cps - either way, commencement of drilling should see some increased volatility for FAR and FAROA.

Attached are FAR and FAROA.


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## el_ninj0 (9 April 2005)

*Re: Speccie - First Australian Resources (Far)*



			
				doctorj said:
			
		

> In light of NEO getting some air time, I thought I'd bring FAR up again, with mention of some news (or possibly rumours from hopeful, overzealous holders).
> 
> 
> 
> ...




From their chart and the speculation that doctorj has made, i'd say they are on the up. The only problem I see with it at the moment is the volumes being traded. These are very small ammounts, averaging 500,000 shares traded a day.

There would need to be alot more interest in the stock before i'd jump in.


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## canny (11 April 2005)

*Re: Speccie - First Australian Resources (Far)*

Hoping for news soon - there was a lot of good 10c buying today - seems to be getting ready for next run.


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## el_ninj0 (11 April 2005)

*Re: Speccie - First Australian Resources (Far)*



			
				canny said:
			
		

> Hoping for news soon - there was a lot of good 10c buying today - seems to be getting ready for next run.




Still very low volume canny, not a good sign of interest in the stock. RTM had a quiet day and it traded at 18 million. I think i'd need some more interest from other buyers before I jumped in.


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## doctorj (5 September 2005)

*Re: Speccie - First Australian Resources (FAR)*

Cluck Cluck!  

No offence, but whenever I've posted on this thread, I have the overwhelming feeling that I know what it feels like to be Chicken posting on SBM (et al).

I'm sold on FAR fundamentally, but I won't bore the technically inclined here with those details.  Suffice to say, it's happily been trading within a channel now for more than 3 years and it looks to be making a move towards testing the upper end of that band at 13c.  Strong bounce off the lower end of the channel at 0.075c which coincided with the overhang from a large option conversion. Currently trading at 10c the Fibs suggesting its testing strong resistance - price action today and market depth as at close supports this.  Volume today suggests increased interest in the stock with more than 12mill shares traded.

FAR has more than $10mill in the bank, a market cap of about $30 mill and is a self funded explorer with good leverage into drills planned within the next 3 months which combined are worth potentially in excess $1per share (assuming $20 oil and $5 gas).  Risks to consider include the risk inherent in drilling for oil and gas and the tight rig market which may hinder FAR's ability to meet their timelines.


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## doctorj (1 October 2005)

*Re: Speccie - First Australian Resources (FAR)*

Time for my monthly venture into the world of Chicken.

Being bought up in expectation of a very strong quarterly within the next week with Henry Hub gas prices doubling from USD$7 to $14.  Lake Long now online should provide significantly more production to the balance sheet.

Unfortunately, FAR's management is content being the junior player in their drills and thus are unable to apply pressure to operators to get things done on time.  SGT has site approvals and the site pad and infrastructure constructed, but is waiting for an available rig - it has been delayed now for a year.  Drilling at Welder Ranch is still, as far as the market is aware waiting for fraccing which, analysts believe could increase production by several hundred percent at the site.  

The media whores at VPE have now turned their attention to drilling of Eagle 2 which is worth 25-30cps to FAR and is guaranteed a rig in the first week of November.  The site has no exploration risk.

ROC advises that negotiations with Chinese govt are ongoing for the Beibu Gulf project.

Last word from WA-254P operator Apache is that drilling is still scheduled for this year - also potentially worth multiples of FAR's current price.

Finally, off topic - those that like to have a flutter with high risk/reward opportunities within oil and gas should check my tip for the stock tipping competition this month (GOP).  They will be drilling a target worth 300-500cps to them within the next month.


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## RichKid (3 November 2005)

*Re: Speccie - First Australian Resources (FAR)*

Well, doc has been so crazy (do I exaggerate?!) about this stock that I've had a recent look at it and it looks like it's going to go sideways for a bit, which I believe is the start of an accumulation pattern, a bit early to call yet, I bet the falling oil price isn't helping this but oil is still relatively high.


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## RichKid (6 November 2005)

*Re: Speccie - First Australian Resources (FAR)*

Some charts on FAR, not the best quality I'm afraid but you should get the gist of it. Comments welcome, I'm encouraged by the low volume on declines and high volume on advances. Appears to be accumulation atm at a short term flip/flop line of regression at 10c, now acting as support. Downside is a dip to uptrend support but this trend is still strong imo.


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## RichKid (6 November 2005)

*Re: Speccie - First Australian Resources (FAR)*

FAR monthly, shows substantial increase in volume in recent years and start of trend reversal. If this continues to form the upside will be explosive to over $1, that's just the theory, reality maybe different.


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## doctorj (6 November 2005)

*Re: Speccie - First Australian Resources (FAR)*

At the risk of looking like an idiot... why?


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## RichKid (6 November 2005)

*Re: Speccie - First Australian Resources (FAR)*



			
				doctorj said:
			
		

> At the risk of looknig like an idiot... why?




Hi Doc,
Good question, the idiot is me for using the shorthand measure that sometimes comes with traditional TA. The *estimate* is from the height of that long descending wedge/descending triangle? combined with the base built over several years. The marked increase in volume is what makes me think it may be explosive, especially as it approaches that longterm downtrend resistance. I'm more inclined to see this as a bullish wedge (I couldn't draw the lower downward sloping trendline but that would show the wedge clearly, curren bottom line is horizontal support at all time low- it helps define th base).

Odds don't favour it overwhelmingly but it is, as with most things in TA, *a possibility* which has to be considered. Also $1 is that magic psychological figure, the measurement of the height would see it exceed $1 but that's high enough, if it makes it. Plenty of ASX resources jnrs have done similar things (on different chart patterns eg OEX) so don't be surprised. 

But to get back to the question, that measure is not the most reliable, prices can wander around. If we consider it a descending triangle then an upside breakout could be expected to be weak or non-existent. I think it's the recent volume that really invalidates that pattern as it is the opposite of the theory which requires declinging volume as you approach the apex.

Hope this helps, I'm not that good at measuring and need to do more research into it. I like the increasing volume and the basing pattern but hard to trade as a one cent move can mean being stopped out for most. I'll be trading this on the dailies whenever possible. Currently hold, hence the chart work.

PS I just noticed the first half of the chart appears to have bars and the second bit seems to be candles, not sure why. Also story for co in early years maybe completely different to fundamentals for recent years but a chart is a chart and we look at price action not value or fundamentals.


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## Kauri (6 November 2005)

*Re: Speccie - First Australian Resources (FAR)*

My take of FAR on monthlies..


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## RichKid (6 November 2005)

*Re: Speccie - First Australian Resources (FAR)*



			
				Kauri said:
			
		

> My take of FAR on monthlies..




Excellent work Kauri! I missed that completely, in fact, after having a look at the dalies (in one of my earlier posts), volume corresponds to the pattern with even a little characteristic 'bump' near the centre of the saucer/cup, this appears to be the handle and is forming on lower volume (as required) in a consolidation pattern just below the first lip. Not identical to the textbooks but very close and certainly tradeable for me, especially with the current entry set up. Will mention this in the saucer thread for the others too.
So it's looking good, nice to see different chartists at work. 

Conventional trend lines do suggest the downside risk is a return to the lower trendline, again see my earlier daily, but 10c is holding well for now.


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## doctorj (9 November 2005)

*Re: Speccie - First Australian Resources (FAR)*

For anyone interested, overnight Dune Energy announced a successful frac of Vaquero #2 at the Welder Ranch property.  Flows are now at 3.25MMcfed, up from 2.0MMcfd pre-frac.  This is worth $2-3mill per annum to FAR in profit.
In today's announcement, there were 3 other key points


FAR increases its participation in Welder to 9.69% after payback
DNE has other (imminent) drills planned at Welder Ranch
Distribution of profits from Welder is to commence

To my mind, the third one is the most important.  This should see $1mill or there abouts booked in the December Quarterly Cashflow statement from Welder alone.  To compare, the last quarterly booked about $700-800k in total from memory.  This will see quarterly takings of in excess of $2mill, assuming I've interpreted the announcement correctly.


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## RichKid (11 November 2005)

*Re: Speccie - First Australian Resources (FAR)*

I may have misread these last two weeks or so as accumulation when it's distribution but otherwise still bullish. Not holding atm but hope to enter again soon. Thanks for the updates doc, these fast movers require close watching.


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## yogi-in-oz (30 January 2006)

*FAR ..... First Australian Resources*




Warning: ..... astrostuff ahead ..... 

Hi folks,

FAR ... looking ahead, early February 06 looks positive,
with news/moves expected, on the following key dates:

     03022006 ..... minor and positive news ... ???

     08022006 ..... minor and positive ... ???

17-21022006 ...... minor and negative news ...???


Most of March  2006 may have negative sentiment:

     10032006 ..... significant and negative light on FAR

     14032006 ..... significant and negative news ... ???

24-27032006 ..... 2 cycles here, one negative and one
                  mildly positive ..... finance-related???

-----

28032006-22052006 ..... may be a mildly positive undertone
in FAR sentiment here, but there will also be a couple of
negative time cycles in April 2006, that may keep the share
price, flat .....:

07-10042006 ..... significant and negative news ... ???

    24042006 ... significant and negative - finance-related?

280406-01052006 ..... significant and positive news ... ???

happy days

  yogi


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## trader (30 January 2006)

*Re: FAR ..... First Australian Resources*



			
				yogi-in-oz said:
			
		

> Warning: ..... astrostuff ahead .....
> 
> Hi folks,
> 
> ...




So did the tea leaves say this or is this from a more reputable source like your crystal ball.


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## doctorj (31 January 2006)

*Re: FAR - First Australian Resources*



			
				trader said:
			
		

> So did the tea leaves say this or is this from a more reputable source like your crystal ball.




Gann may not be for everyone, but Yogi's been posting his thoughts on a range of stocks for quite some time and has a good rep for honesty, helpfulness and accountability. Sure, he can't tell us whether or not Eagle is going to flow at 1000bopd, but I don't think I'd be going too far out on a limb to say that even using Gann, he'd probably fair a whole lot better than a good deal of the traders here using their own preferred techniques.



			
				yogi said:
			
		

> 03022006 ..... minor and positive news ... ???
> 
> 08022006 ..... minor and positive ... ???




I'm not a great believer in Gann myself, but I'd be interested to hear your thoughts on how these tie in with expected results from Eagle and SGT.  How do you account for Eagle (being such a potentially profitable well) only read as a 'minor' price effect?


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## yogi-in-oz (2 April 2006)

*FAR - First Australian*



Hi folks,

FAR ..... has been range-bound, since 
mid-September 05, but has some potential
despite the negative cycles forecast for 
April 2006 ..... 

28032006-22052006 ..... may be a mildly 
positive undertone in FAR sentiment here:

07042006 ..... significant and negative news
               ... low ???

10042006 ..... positive spotlight on FAR

24042006 ... significant and negative - finance-related?

280406-01052006 ..... significant and positive news ... ??? 

happy trading

   yogi


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## beach (2 April 2006)

*Re: FAR - First Australian*

hello yogi
            interesting, if what you are saying the dates you have suggested would be smack bang on eagle1 well in USA letting us no if it is flowing oil at a good rate. i have a positive feel on this well on the other hand,, but not sure if FAR have other project that are happening in this time frame so you could be right, regards beach


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## yogi-in-oz (2 April 2006)

*Re: FAR - First Australian Resources*



Hi folks,

FAR ..... a longer-term view shows us that this
stock has been building a monster inverted head
and shoulders, since 1999 ... along with our time
cycle analysis, we figure by March 2007, FAR will
be hot property ..... 

Click here for a longer view on FAR .....  

happy days

  yogi



=====


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## IGO4IT (18 April 2006)

*FAR - First Australian Resources LTD*

Hi guys,

If I'm not mistaken, FAR wasn't mentioned before on ASF.

These guys imo have real potential, currently have like zillion projects running but most intrestingly the EAGLE project in JV with SUR, VPE & others who seems like coming to an end with a potential few bagger if oil flow rates are high enough.

I've been holding their shares for a while & to be frank they haven't had the best luck with their EAGLE drilling but they have a good story everytime they stuff up 

would like to know if anyone here has thought on them.

cheers,


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## Mumbank (19 April 2006)

*Re: FAR - First Australian Resources*

Hi Igo4it,  I hold these as well as a speccie.  Not sure what I think of them ATM. They don't move much on good announcements, although they have quite a few potentially good projects on the go.  I guess they are those "hold and see" type shares and at the low price i'll wait a little longer if not I'm already in front so I'll flick them and find another speccie.


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## RichKid (19 April 2006)

*Re: FAR - First Australian Resources*

Doc J is the FAR guru here, should be back on board the good ship ASF soon, so stay tuned!

PS: to those who don't follow it FAR last traded at 13c


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## IGO4IT (25 April 2006)

*Re: FAR - First Australian Resources*



			
				RichKid said:
			
		

> Doc J is the FAR guru here, should be back on board the good ship ASF soon, so stay tuned!
> 
> PS: to those who don't follow it FAR last traded at 13c




I guess that was old news ( the 13.5c bit  ), it closed yesterday on 14.5c & now EAGLE flow rates should take up to the next level which are supposed to be out tomorrow.

if flow rates are as promised (1000bpd), on other forums they estimated SP to be mid 20cs, good luck if anyone still holds & imo its at least worth a space on your watchlist if not to put some money in.

big projects in the cooking & they have a Senegal project that if could come thru before shareholders all die of heartattacks, it should take this company to a totally brand new level of $15-$20/share in few years time.

of course do your own research & look in particular for number of issued shares & compare to others 

cheers,


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## powwww (26 April 2006)

*Re: FAR - First Australian Resources*

Hartleys have eagle at upto 40cps if the 1000bpd is achieved.

good luck to all that hold


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## Bugger (9 May 2006)

*FAr*

Far what a fantastic little oily - looking good imho in the next week with a well in china 12-6 with a possible play area of about 528m's, Eagle oil hopefully near completion, Kakwa gas in Canada, and Senegal oil field to 3d...............cheap now - not for long.


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## RichKid (9 May 2006)

*Re: FAR - First Australian Resources*

Hey Doc, looks like your little baby is growing fast! Should be on a lot more peoples radars now.


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## IGO4IT (9 May 2006)

*Re: FAR - First Australian Resources*



			
				RichKid said:
			
		

> Hey Doc, looks like your little baby is growing fast! Should be on a lot more peoples radars now.




so far, FAR had been the highlight of 2006, the current price is still WITHOUT 3 projects to give results in next 2-3 weeks.

predicting what should happen here is pointless, tehnically we're in the blue skies now & we've just gapped on open on monday so we're expecting new high as well this week.

good luck if anyone had realised this one few months ago & well done!


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## bionic (10 May 2006)

*Re: FAR - First Australian Resources*

Can anyone tell me what the  capital raising will have on FAR share price
(I am pretty new to this)
i believe FAR has approx 300 million shares on issue and the raising will create another 93 million at a 14c/share price, which is quite a discount to the current trade price 21c
i would be most grateful for any views on the likely impact of the raising


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## bionic (10 May 2006)

*Re: FAR - First Australian Resources*

Further FAR question
in todays news FAR say the Beibu block is potentially 1km square with approx 100metres of oil 

this is my first attempt at this type of calculation (usually i tend to buy and sell on intuition) so please feel free to point out any discrepancies in teh calculaltions

approx barrel size 1x1x1.5m

approx field size 1000 x 1000 x 100

volume of barrel = 1.5m cube
field 1x10^8mcube

number of barrels in field = 1x10^8 / 1.5 = 66.6million

at 5% Fars div 3.33million barrels
or @65$ /barrel 216 million dollars

with 400million share this is therefore worth 54c / share
this seems a little to good to be true

i would be interested as to how others calculate value in this sort of instance


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## IGO4IT (10 May 2006)

*Re: FAR - First Australian Resources*



			
				bionic said:
			
		

> Further FAR question
> in todays news FAR say the Beibu block is potentially 1km square with approx 100metres of oil
> 
> this is my first attempt at this type of calculation (usually i tend to buy and sell on intuition) so please feel free to point out any discrepancies in teh calculaltions
> ...




Oil in production is worth $12 - $20/barrel ON SITE depending on where you're digging & availabity of transportation & many variables etc....

you're calcuation is ok but you assumed barrel price too high.

the right calcuation of what its worth is 10c -12c/share.

as usual, I could be wrong, so none of posts could be taken as an indication to buy or sell & I hold shares in FAR.


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## IGO4IT (10 May 2006)

*Re: FAR - First Australian Resources*



			
				bionic said:
			
		

> Can anyone tell me what the  capital raising will have on FAR share price
> (I am pretty new to this)
> i believe FAR has approx 300 million shares on issue and the raising will create another 93 million at a 14c/share price, which is quite a discount to the current trade price 21c
> i would be most grateful for any views on the likely impact of the raising




Hmmm...tricky question, but IMHO those who are buying now (buyers after last trading halt) had bought with news of placement being in place & also that managment is in favour of the placement.

SP as we all seen had taken off & gone so high while CONSIDERING the info of placement, so logically we would say that everyone is currently paying while knowing & expecting the placement to happen!

There is a problem.....the placement doesn't go thru until GM has the voting early June & it passes thru, so some of those who are buying now COULD be hoping for a rejection of the placement voted by shareholder, may be for it being too cheap at 13c/share or for whatever reason, but most likely everyone is now expecting the placement to take place as market reaction was very good to it.

One other thing, the placement may come in a time when market is not in a good mode, which happens sometimes & it could react negatively but even if that happens I don't think it will have a very big effect as in case of any dip there will be others waiting for buy on a bargain price, I'm actually in favour of a no reaction result as I think personally that current price had already factored the news of the placement in it.

cheers,


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## bionic (10 May 2006)

*Re: FAR - First Australian Resources*

Many Thanks


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## Bugger (10 May 2006)

*Re: FAR - First Australian Resources*

FAr, I hope you guys held your FAr if you did you should be making out like Bandits at .235 cents today....with more to come imho.


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## Top Cat (10 May 2006)

*Re: FAR - First Australian Resources*

Bionic,

Try these calulations 1000x1000x100x6.2xAUD$36x2.5%x25%

These being the size of block, there are 6.289 barrels per cubic metre, say an in ground value of 40% of oil price, as generally used for inground value, (although US$20 is often used) converted to AUD, Far's share is 2.5% after Chinese take up their share and say they extract 25% of the field.

AUD$141,152,400 to FAR divided by 424 million shares = 33 cents per share.  This is of course if the field covers the whole of the 1sq km of the block but then again it could be larger or smaller.  So be conservative and say 50% of this then this becomes 16.5 cents per share.  I believe that I read somewhere that official estimates put a find at between 6 and 10 cents per share.  I don't believe that they thought that they would have a find as large as this. Anyway no matter what we value it at the market will decide in the end.

Holding FAR and out to buy more in the morning.    Go FAR go!


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## IGO4IT (11 May 2006)

*Re: FAR - First Australian Resources*



			
				Top Cat said:
			
		

> Bionic,
> 
> Try these calulations 1000x1000x100x6.2xAUD$36x2.5%x25%
> 
> ...




Hi Bionic,

I'll be wishing that your calculations are accurate , as you said what market is willing to pay is more important that what is the actual value of it.

......but i still think that your AUD$36/barrel is a bit rich   

cheers,


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## Top Cat (12 May 2006)

*Re: FAR - First Australian Resources*

IGO4IT,

I looked at an Aegis report for inground valuations.  They say that a conservative in ground value of US$15 bbl or typically 40% of current oil price with an allowance for any price spike.  So say we go for a conservative AUD$20 bbl then that equates to $0.18 per share.  I would still be happy with that


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## IGO4IT (12 May 2006)

*Re: FAR - First Australian Resources*



			
				Top Cat said:
			
		

> IGO4IT,
> 
> I looked at an Aegis report for inground valuations.  They say that a conservative in ground value of US$15 bbl or typically 40% of current oil price with an allowance for any price spike.  So say we go for a conservative AUD$20 bbl then that equates to $0.18 per share.  I would still be happy with that




I think you're in the right track but how much EXACTLY will the market pay for it & when? this the question.

we had a trifecta with all 3 projects coming to action at same time, Eagle sounds like more trouble & this is my only worry at the moment...because I can't predict how market will react to its failure in case of a failure (mentioning that its very unlikely & we should only be waiting for flow rates NOT that we're expecting to have a dry hole!!)

so market paid imo for the average price for all 3 projects we have & any extra-ordinary performance from any of these projects could be a real breakout.

there should be an ann coming on Monday (Eagle related) & another should be on Friday (I think Beibu related), so we'll have a lot of fun next week 

cheers,


----------



## stiger (16 May 2006)

*Re: FAR - First Australian Resources*

Get with it .She is gonna BLOW.!!!!


----------



## Mumbank (16 May 2006)

*Re: FAR - First Australian Resources*

I hope you're right.  ALthough the way the market it, it will still show red!!  Go FAR


----------



## coffee (29 May 2006)

*Re: FAR - First Australian Resources*

Hello Farites,

We have come a long way since WR and Eagle as per the last post. We have a new FAR with a potential of a 50 cent SP in the next 8 months.

Cheers

Coffee


----------



## Porper (29 May 2006)

*Re: FAR - First Australian Resources*



			
				coffee said:
			
		

> Hello Farites,
> 
> We have come a long way since WR and Eagle as per the last post. We have a new FAR with a potential of a 50 cent SP in the next 8 months.
> 
> ...




I'd be very interested to know how you have calculated the 0.50 price in the 8 month time span.

If you could post your technical or fundamental analysis that would be great.


----------



## coffee (29 May 2006)

*Re: FAR - First Australian Resources*

Porper,

I am being conservative with my 50 cent SP in 8 months.

see: 

http://www.far.com.au/files/research/Hartleys Research apr 2006.pdf

This report, I believe to be close to the mark and IMHO believe that FAR will be seen as a completely new entity in the market place apres June 9th. Once we have the Canadian and the China wells behind us, the platform for this new company image will be in place for a new type of investor that will be playing for big money, as opposed to the 10 - 15% profit takers we have been seeing in FAR over the last couple of years. I have invested heavily in this Company over the last 1 1/2 years and am very pleased with the management and forsight that ME has pulled off in the last few months. I hope I have answered your question with the Hartleys document. I have not been able to find another source.

Cheers
Coffee


----------



## coffee (30 May 2006)

*Re: FAR - First Australian Resources*

Farites,

A quiet day on the FAR front

coffee


----------



## Porper (30 May 2006)

*Re: FAR - First Australian Resources*



			
				coffee said:
			
		

> Farites,
> 
> A quiet day on the FAR front
> 
> coffee





I had these and sold out when the correction started, but they are on my watchlist still.

Thing I don't like is the fact that there is a gap there and I am not convinced that it is a breakaway either.Looks like it has a chance of getting filled to me.


----------



## IGO4IT (30 May 2006)

*Re: FAR - First Australian Resources*



			
				Porper said:
			
		

> I had these and sold out when the correction started, but they are on my watchlist still.
> 
> Thing I don't like is the fact that there is a gap there and I am not convinced that it is a breakaway either.Looks like it has a chance of getting filled to me.




Porper,

fundementally, FAR has 3 big events coming up from Kakwa & Beibu & of course the same old EAGLE.

believe it or not, they're lucky to get all 3 of them happening at the same time this week or early next week, reasonably we should expect news from at least 1 this week.

I believe its a breakaway gap & could be filled as 90% of gaps I seen regardless of what they are get filled but I don't think it will be filled any time in the short term. FAR has too many fundemental events on the short term that they will always find something to be exicted about! may be in few months time when it gets slower then some wil get bored & take their profits away.

cheers,


----------



## coffee (1 June 2006)

*Re: FAR - First Australian Resources*

Farites,

I see Eagle is about to begin its testing with the completion rig in 10 days, June 11-12th. At last....

Kakwa will no doubt have an ann out end of next week and China close behind. If we do as expected here Farites we'll be sitting on a solid 25 - 30 cent SP. I believe from what I'm seeing the SP has factored in the dilution of the 95-100M shares @ .13. 

The market is content with the 25% increase and the *The New Sophisticated Investors* from overseas. I know they will be happy.

Cheers
coffee


----------



## Porper (1 June 2006)

*Re: FAR - First Australian Resources*



			
				IGO4IT said:
			
		

> Porper,
> 
> fundementally, FAR has 3 big events coming up from Kakwa & Beibu & of course the same old EAGLE.
> 
> ...





Well, here is a chart for those interested.Very low volume at the moment indicating to me that we won't have an announcement in the near future.

A break of the triangle with volume would probably persuade me to jump on for a short term trade, otherwise I will leave well alone.In this market no news is bad news.


----------



## coffee (13 June 2006)

*Re: FAR - First Australian Resources*



			
				Porper said:
			
		

> I had these and sold out when the correction started, but they are on my watchlist still.
> 
> Thing I don't like is the fact that there is a gap there and I am not convinced that it is a breakaway either.Looks like it has a chance of getting filled to me.





I take my hat off to you. Your understanding of market shift is much better than mine. Today we are at .145 with no bottom defined. I can't see why this has happened, but it has. The cap raising at .13 has had an effect possibly, but the good news has had little positive push today. What is the matter out there. The average sell was 50K/person which means to me the punters are frightened again and decided today was jump off day. Go figure..we have 3 beautiful wells coming commercial over the next month and these punters think they have a better place for their hard earned. What are your thoughts Porper I'm listening.

coffee


----------



## IGO4IT (13 June 2006)

*Re: FAR - First Australian Resources*



			
				coffee said:
			
		

> I take my hat off to you. Your understanding of market shift is much better than mine. Today we are at .145 with no bottom defined. I can't see why this has happened, but it has. The cap raising at .13 has had an effect possibly, but the good news has had little positive push today. What is the matter out there. The average sell was 50K/person which means to me the punters are frightened again and decided today was jump off day. Go figure..we have 3 beautiful wells coming commercial over the next month and these punters think they have a better place for their hard earned. What are your thoughts Porper I'm listening.
> 
> coffee




Coffee,

You're talking about FAR as if its a special drop case while all other resouces are going up like crazy.

The market is in correction (or something else that destroys prices of all resources), when it finishes then we can try to isolate each company as a case by itself. 

Right now, all are resources are almost half what they were few weeks back & the hit came on the big blue chips before the smalls.

Why FAR is falling? can you tell me why others are falling? 

cheers,


----------



## Matt123 (19 June 2006)

*Re: FAR - First Australian Resources*

The price has rebounded slightly, but not as much as I anticipated. Given a favourable market, the price should head back to the 18c it was before the drop, perhaps more. Any news that comes out of FAR about drilling always seems to be good, and there will hopefully be some soon


----------



## coffee (22 June 2006)

*Re: FAR - First Australian Resources*

I'm tempted to top up this week knowing there is going  to be an ann out shortly. If it comes out prior to yr, end I'll jump on but if there is no news by 2PM June 30th I think you will see a few mill traded down by those that bought in the 20's on the second week of May. That might be worth sitting close to the monitor that day to pick up some at 12 cents.

coffee


----------



## coffee (1 July 2006)

*Re: FAR - First Australian Resources*



			
				coffee said:
			
		

> I'm tempted to top up this week knowing there is going  to be an ann out shortly. If it comes out prior to yr, end I'll jump on but if there is no news by 2PM June 30th I think you will see a few mill traded down by those that bought in the 20's on the second week of May. That might be worth sitting close to the monitor that day to pick up some at 12 cents.
> 
> coffee





Well I got in at 14 cents, happy with that. Now I anticipate a 20 cent move by the end of next week. Still have good reason to see FAR reach 45 -50 cents before Christmas. The BG is going to prove to be very lucrative for FAR even at 2 1/2%. With Gas prices in Canada now going into the winter shortly we will see an all time high. Kakwa is our footprint into the Canadian marketplace. Eagle ......in the background now, flick it. Apart from causing a whole lot of stress and cost blowouts I believe over a short period of time it will pay for itself once we see the oil flows. ie 500 - 800 bopd. It's there.

In Summary: Anyone getting on now will have a bit of fun..

Coffee


----------



## doctorj (31 July 2006)

*Re: FAR - First Australian Resources*

According to the VPE presentation today, Eagle is still going ahead this August, with an expectation of Eagle holding 44Mill bboe (p10).  A bit misleading, as they state it as a p10 "target".  Not sure what that's meant to mean, its either p10 or not, but anyway - time to move on.  

Yes Eagle has caused all manner of problems and I for one will be suprised to ever see FAR make a buck from it, but I believe the market has already discounted FAR heavily for this and should the lower Gatchell produce from the 72m behind casing and 105m open hole (gross pay, already logged) at the expected rate, its worth something in the order of ~30cps (44Mill bboe, AUD$20/boe in ground value).  In terms of risk/reward, there's not much froth built in for Eagle, but should the operator get their act together there's significant reward for all participants.  

The real interest for me lies in the Beibu Gulf discovery.  The exploration well found 80.5m of net oil pay and flowed at 5,750 bbls a day over a 2 week test.  

From ROC's quarterly report today:


> Appraisal of the Wei 6-12S-1 continued with the first sidetrack well, Wei 6-12S-1a, reaching a Total Depth of 2,530 mBRT. Initial analysis indicated that the five cores cut display similar reservoir quality to the discovery well. A second sidetrack well, Wei 6-12S-1b, commenced drilling on 13 July. The well was designed to intersect all the reservoir intervals seen in the upper part of the original discovery well downdip from that well. On 31 July, the second sidetrack well had reached a revised Total Depth of 2,950 mBRT and logging was underway. Preliminary appraisal results appear to range from as expected to somewhat encouraging.



A few things to note, they actually continued drilling a long way below planned target depth in order to intersect the entirity of each of the three intervals intersected in the current well.  Also, it was described as "encouraging", despite ROC's typical conversative line.  

Drilling further than planned means one of two things - either they didn't find what they expected and drilled a little deeper to make sure or they had to drill deeper than planned to measure the extent of the downdip to update reserve estimates.  You be the judge.

Either way, at the initially announced 55Mill bbl discovery @ 5% WI to FAR, that's still 12cps (using the same assumptions as above).

Exciting times ahead for FAR, lets see if that excitement bares fruit this time.


----------



## yogi-in-oz (2 August 2006)

*FAR - First Australian*



Hi folks,

FAR ..... as requested, here's some astroanalysis,
revealing some key dates ahead, with August 2006
looking quite a positive month ..... 

August 2006 ..... mostly positive:

     11-14082006 ..... positive spotlight on FAR

     22-23082006 ..... expecting positive news initially,
                              but a negative cycle on 23082006
                              may spoil the party.

          29082006 ..... positive time cycle here ... finances???

-----

September 2006 ..... mostly negative:

           07092006 ..... negative news here???

       10-18092006 ..... though there's underlying positive
                                sentiment, we will likely see the price 
                                trade flat-to-down, during this time.


            12092006 ..... negative spotlight on FAR

            22092006 ..... negative financials???

            25092006 ..... minor and positive news expected.

-----

October 2006 ..... mostly minor and positive:

       04-09102006 ..... 2 cycles may trigger aggressive rally.

            13102006 ..... minor and positive time cycle here.

            16102006 ..... minor and positive ... finances???

            18102006 ..... minor

-----

November 2006 ..... all minor cycles:  

            07112006 ..... minor news???

            09112006 ..... minor

            13112006 ..... minor

            21112006 ..... minor

 -----

December 2006 ..... very positive, before December solstice.

       01-04122006 ..... positive and finance-related???       

            12122006 ..... spotlight on FAR

            21122006 ..... significant news???

        21-29122006 ..... some underlying negativity here,
        with some longer-term plans likely to come into focus??

             27122006 ..... minor

-----

January 2007:

             02012007 ..... short, sharp rally ???

-----

Looking further out, March-June 2007 will likely be a 
roller-coaster ride for FAR.

Expecting some significant and negative news, around
September 2007 equinox, then some significant and 
positive news, near the end of October 2007.

So in summary, we can expect some good trading 
opportunities in FAR, starting this month ..... !~!

happy trading

  yogi


----------



## yogi-in-oz (14 August 2006)

*Re: FAR - First Australian Resources*



Hi folks,

FAR ..... as  posted above on 02082006, we will be 
alert for some positive news/moves early this week, 
probably on Monday 14082006 ..... 

Engulfing low last Friday, with good supporting volume
is a good sign going into this week, too ..... maybe
traders are already anticipating some good news,
out of the current GOM well ... ???

happy days

  yogi


----------



## coffee (24 August 2006)

*Re: FAR - First Australian Resources*

Yogi

Pack your bags  :nuts: 

Coffee


----------



## coffee (7 September 2006)

*Re: FAR - First Australian Resources*

lets hope the correction is over . And we can start seeing the Sun. Looks good , Wish I had some more $ to put down. Although I have lots of $$$$ on this one.


----------



## stiger (8 September 2006)

*Re: FAR - First Australian Resources*

You have to have the patience of a Saint with this co .Cheers Dyor.


----------



## coffee (11 September 2006)

*Re: FAR - First Australian Resources*

The Gods say patience is rewarded  Cheers C


----------



## stiger (18 September 2006)

*Re: FAR - First Australian Resources*



			
				coffee said:
			
		

> The Gods say patience is rewarded  Cheers C



I'll say ann released on london xe under code EME [courtesy rice01 hc] Dyor .Cheers.


----------



## doctorj (18 September 2006)

*Re: FAR - First Australian Resources*

I'm not sure what you mean exactly. 

Empyrean did release an announcement, but aside from confirmation that a rig arrived as scheduled, there's no new information in it.

FAR is interesting.  They've known about the oil at eagle for some time now and that's not helped the SP.  Also, the sp is now 50% off the highs when the Beibu discovery was announced.  

The potential impact of Eagle on FAR is well documented - holders have been looking at it for some time.  Look further back in this thread for more information.  Beibu is incredibly interesting - latest tentative comments from the JV suggest 60-100mmbo in place.  If they can recover at anything like what's happening from adjacent fields, they're looking at up to 60% recoverability.  

The monkey on FAR's back is cash flow.  The market is punishing oilers that don't have it at the moment on the basis that raising capital will increase in difficulty going forward.  While FAR is nicely cashed up at the moment, it will only stay that way until dec/jan when they have to pay the remaining for the 3d seismic off Senegal.  Production from Eagle could provide the impotus for a  rerating - but as I've said, people, including myself, have been saying that for well over a year.


----------



## stiger (19 September 2006)

*Re: FAR - First Australian Resources*

They released a fair bit of info today .It takes some sifting through though.Cheers.Dyor


----------



## doctorj (19 September 2006)

*Re: FAR - First Australian Resources*

Good to see some activity at Lake Long and West Andrews and more at WR and Kakwa.

There's also a completely unsubstantiated rumour flying around that EGO might spud EP104 in the next month.

It's also good to see that VicPet got their act together and got an announcement out.  Would have preferred to see it at open however.


----------



## Matt123 (16 October 2006)

*Re: FAR - First Australian Resources*

Finally some movement! Could be the start of a new uptrend back into the midteens, possibly high teens if good news follows.


----------



## constable (8 May 2007)

*Re: FAR - First Australian Resources*



Matt123 said:


> Finally some movement! Could be the start of a new uptrend back into the midteens, possibly high teens if good news follows.




Even now ,6 months later you still wouldnt be 100% sure of it doing anything.
However Citigroup have picked up 5.3% of the stock ( ann yesterday) and it looks to be having some impact on the sp up to 15c. Graph  has been trending upwards since late march and could be breaking out of a period of consolidation.


----------



## rocka1 (8 May 2007)

*Re: FAR - First Australian Resources*

I've just noticed volume has hit almost 8 mil price has gone to .16 I've jumped on hopefully for a ride up in my opinion DYOR Rocka


----------



## rocka1 (8 May 2007)

*Re: FAR - First Australian Resources*

Does anyone have any info on why FAR's volume was over 12 million today? It is hovering around the .15 mark and volume has been picking up for 5 straight days.


----------



## doctorj (9 May 2007)

*Re: FAR - First Australian Resources*

You'll have to forgive the length of this post _(Edit: I'm going to split them up on second thought)_.  Amongst all the rambling, I hope you manage to learn something.  Much of the Tullow-research noted in this post was completed by a chap named Barry, so to you (I'm sure you read this), thanks.

First of all, you'll see on the attached chart the interest kicked in on Friday, followed by an aftermarket 603 (substantial holder) notice released by an english law firm called Baker and McKenzie.  The announcement specifies the shares are owned by an english fund called evolution and held by Merrill Lynch.

This spurred a lot of interest on Monday (nearly 2x the 200d average volume) for a couple of reasons. 1) It is the first substantial holder in FAR and 2) the purchase history provided in the form shows that the firm has been purchasing aggressively for a number of months.  Subsequent analysis of the course of sales suggests that on some days they accounted for >80% of the daily volume.

Some time on Monday afternoon, another substantial shareholder announcement was made - this time by Citibank.  The holder was announced to be Citicorp nominees.  Tuesday was exciting again, with a break of resistance and 2.5x the long term average volume, on face value, because of a second substantial holder in the space of a couple of days.

This is where it gets a little weird and fact begins to blur into suspicion.  

Closer inspection of the substantial holder notice revealed they were for exactly the same number of shares.  It's unlikely that two different owners of shares both became substantial holders of shares within days, so why two notices, from two different parties showing the same shares owned by two different parties?

Calls to Citi/ML revealed they were for the same stake and they had received a legal opinion that they should re-release the 603 and Baker McKenzie made a mistake.  So what is Baker McKenzie's role? Why does someone want to obscure the ownership of the stake?  Why are both Citi and ML involved?

Stay tuned...


----------



## doctorj (9 May 2007)

*Re: FAR - First Australian Resources*



> So what is Baker McKenzie's role? Why does someone want to obscure the ownership of the stake? Why are both Citi and ML involved?



Remember this is where fact begins to blur with speculation.

Back in April, FAR MD Michael Evans announced in Resource Stocks mag that his aim was to replicate Hardman in being bought out as a result of their African acreage.  It so happens that Baker McKenzie was one of the top legal advisers on M&A in Australia and the UK-based firm promotes heavily in the oil/gas market.  Also, Merrill Lynch was the bank acting on behalf of Tullow in their T/O of HDR.  So the conclusion I have come to (and looking at the market, so have others) is that someone's making a move on FAR or atleast building up a strategic stake in preparation for one.  They would have motive to obscure the ownership through nominees and different brokers to reduce takeover speculation and make the eventual move cheaper.   Essentially Baker McKenzie stuffed up by releasing the 603 - it should never have seen the light of day.

It may not be Tullow either.  The likes of Dana (Tullow's partner in a neighbouring block) or BG who both were rumoured to be sniffing around HDR and missed out.  Dana have also done a stack of work on large oil accumulation in a block in the south of the basin.

So what do "they" get for the $60mill odd it would cost to buy FAR at the moment?

The Senegal acreage is in the same basin as Hardman and the blocks (FAR 30%) had previously had 1bbo (1 billion barrels) of oil defined by Shell in the 70s by 2d seismic.  FAR have just completed advanced 3d seismic over many of the larger targets and are in the process of generating drilling targets.  Based on comparable blocks in the area that have completed 3d seismic and have a 2-3 200MBO+ recoverable targets mapped, you could argue a valuation of $500M for the Senegal blocks.  In the last round, similar blocks went for ~$1b signing bonus only which would value FAR's 30% stake in the block at least at $300M.

They also have a 5% in the Beibu Gulf project with the likes of ROC, PSA & HZN which will be developed in the next year.  This will most likely reduce to 2.5% stake when CNOOC exercise their option to farm in, but even then and using ROC's typically conservative figures for oil recoverable, it's not too hard to arrive at a valuation of $20M.

So, starting with a $60M cap, take out $20M for Beibu $10M for the cash balances. Their producing assets bring in about $4Mpa (worth $20M on a PE of 5), leaving just $10M for their acreage at South Gross Tette, all of the Suncor Canada acreage, Waller, Eagle and their drilling in Arc's EP104 next month, worth up to a combined $0.59cps if successful ($230M) to FAR as per the latest StockAnalysis report by Peter Strachan.

Essentially, this leaves a value of 0 for EV and Senegal - to my mind they're getting a bargain.

This is all speculation.  As YT has found out, there are many companies out there where you can argue that it should be worth much more.  Whether or not that happens is another thing.  Whether or not FAR realises much of that value now or not is up to Mr Market to decide, but for the moment, the significant holder notice and takeover speculation has set things on their way.

Technically we're seeing a break of the triangle with a gap up and about 9-10x the long term average volume.  Close today was a little unconvincing, but course of sales shows the sell down was on very small volume.  EW suggests it seems to have traced out ABC and is now beginning a wave 1 and a larger order wave 3.  I make out the target for the break of the triangle to be about 18.5, but with large numbers of stale holders from the May 06 highs, I think that might be tough in the near term.

Disc: I own a stack of FAR shares.


----------



## ta2693 (10 May 2007)

*Re: FAR - First Australian Resources*



doctorj said:


> You'll have to forgive the length of this post _(Edit: I'm going to split them up on second thought)_.  Amongst all the rambling, I hope you manage to learn something.  Much of the Tullow-research noted in this post was completed by a chap named Barry, so to you (I'm sure you read this), thanks.
> 
> First of all, you'll see on the attached chart the interest kicked in on Friday, followed by an aftermarket 603 (substantial holder) notice released by an english law firm called Baker and McKenzie.  The announcement specifies the shares are owned by an english fund called evolution and held by Merrill Lynch.
> 
> ...




"First of all, you'll see on the attached chart the interest kicked in on Friday, followed by an aftermarket 603 (substantial holder) notice released by an english law firm called *Baker and McKenzie.* The announcement specifies the shares are owned by an english fund called evolution and held by Merrill Lynch."
Doctorj May I ask where did you get the name of Baker and Mckenzie? I did not find their name in the announcement.


----------



## ta2693 (10 May 2007)

*Re: FAR - First Australian Resources*

Citigroup Global Markets Australia Holdings Pty Limited and Evolution Master Fund Ltd are also the two investo in ELK. Is it a coincidence of are they going to merge the two company or some other big company want to buy the ELK and FAR at the same time? Is it possible? How likely?


----------



## doctorj (10 May 2007)

*Re: FAR - First Australian Resources*

The letterhead of the first of the substantial holder announcements was for the legal firm Baker & McKenzie.


----------



## doctorj (10 May 2007)

*Re: FAR - First Australian Resources*



ta2693 said:


> Citigroup Global Markets Australia Holdings Pty Limited and Evolution Master Fund Ltd are also the two investo in ELK. Is it a coincidence of are they going to merge the two company or some other big company want to buy the ELK and FAR at the same time? Is it possible? How likely?



Highly unlikely that the transactions are related in the way you suggest.  If FAR is the target of a takeover, it'll be from another oiler interested or active in the horn region of Africa, not from a fund.  I don't know much about Elk, but unless they have significant interests in Africa, its unlikely they're related.


----------



## rub92me (31 May 2007)

*Re: FAR - First Australian Resources*

It looked like it was going on a run today, but was stopped in its tracks by big sellers selling into the temprorary strength. Looks like this will need substantial volume to get past the 16 cents for starters. 
Only been holding this for about 6 weeks for the long term prospects of the Senegal block they have. At least I won't have to wait as long as some of the patient holders on this forum


----------



## rub92me (6 June 2007)

*Re: FAR - First Australian Resources*

Uh oh. Trading halt just announced. I hope it's not the dreaded take-over just yet, but rather some further oil discoveries.


----------



## ta2693 (6 June 2007)

*Re: FAR - First Australian Resources*

Just a quick question. What is FARG stand for? I do not understand, is it a share or option or something else?


----------



## doctorj (6 June 2007)

*Re: FAR - First Australian Resources*



ta2693 said:


> Just a quick question. What is FARG stand for? I do not understand, is it a share or option or something else?



FARG are convertible notes.  Pay about 10% from memory and were issued to fund the acquisition of the Senegal acerage.


----------



## doctorj (6 June 2007)

*Re: FAR - First Australian Resources*



rub92me said:


> Uh oh. Trading halt just announced. I hope it's not the dreaded take-over just yet, but rather some further oil discoveries.



My advice is that its a friendly placement, most likely to "sophisticated investors" (not a ramp - up or down, it's in a halt at the moment and will come to market before comes out of halt).  It makes sense to raise cash in the lead up to EP104, while its strong, but personally feel that a placement at 14-15c is cheap when a placement at 17-20c could possibly have been achieved in a few weeks as speculation builds in the lead up to canning drilling.

Also feel that a rights issue would have been more appropriate.


----------



## rub92me (7 June 2007)

*Re: FAR - First Australian Resources*

A placement wouldn't surprise me, they will need more money for the Senegal project at some stage. Can't say I'm a big fan of these 'mates rates' deals, but that's the reality of the stockmarkets I guess, and the Australian stock market is weakly regulated to put it mildly so they can probably get away with it...


----------



## rub92me (7 June 2007)

*Re: FAR - First Australian Resources*

A placement to 'sophisticated' investors it is: at 14 cents. I'm sophisticated. I'm an investor. So why didn't I get any


----------



## Sean K (7 June 2007)

*Re: FAR - First Australian Resources*



rub92me said:


> A placement to 'sophisticated' investors it is: at 14 cents. I'm sophisticated. I'm an investor. So why didn't I get any



I can tell by your avatar and nic, rub me. LOL. 

Raising the money at 14 looks ok considering the recent rapid gains. What was the average price while they were asking for the cash. Probably around 14 but it had come up from 10 pretty quickly. 

I'm looking forward to the Canning Basin drilling potential in late July. Looks to be some upside for FAR there.

Looks like it's clearly broken up on the long term chart. Maybe .125 was the break, but breaking 15 looked pretty important, hopefully that's now support.


----------



## Sean K (14 June 2007)

*FAR - First Australian Resources*

Oil and Gas Explorer with projects in Africa, Australia, China, and Nth America

Non operator with 18 years of production, exploration and deal flow in Nth America
414m shares on issue at 16 = $66m market cap
Cash 12.4m ish

Plans for 2007:

Prospect generation on world class Senegal project (FAR 30%)
Progress Offshore China discovery to development status Evaluate new 3D defines targets (FAR 5%)
Multi well program in Australia (3) Nth America (10) and China (4)
Lead player in ground floor 50 sq mile 3D program with multiple objectives onshore Gulf Coast (FAR 34%)
Lead player in ground floor 3D shoot at Wild River, Alberta, Canada (FAR 36%)

Canning Basin (Stokes Bay and Valentine – FAR 8% - operator ARQ) 
Next drilling program is Onshore Canning Basin which will have a big increase in activity in 07. Drilling starts July 
Stokes Bay estimated potential 33 BFC “A” Sand and 47 BFC “C” Sand and 11 mbo. 
Valentine drill 1st week July estimated potential 200 mbo.

On the charts looks to be generally going up and has just recently broken through 15 ish and then tested it making it support. Litle bit of resistance at .175.

Research report from Strachan Corp indicates quite a bit upside from success at Canning Basin. (note: 'success')
Hartley's spec buy (Feb 07)
Stockresource buy up to 11 cents (Mar 07)
Fat Profits buy up to 9 cents (Aug 05)

Research reports here:
http://www.far.com.au/research/

Company web page
http://www.far.com.au/

(holding)


----------



## doctorj (14 June 2007)

*Re: FAR - First Australian Resources*

New valuation out by Hartleys, valuing FAR at 32-64cps and Strachan has put an updated risked valuation of FAR out, putting on a "BUY" rating with an initial target of 25cps.

Will post here as soon as they become publically available.


----------



## jtb (14 June 2007)

*Re: FAR - First Australian Resources*

I'll be happy to see 25c again gents - like watching grass grow since the beibu excitement last year. Would have sold then if I hadn't been bush. Took the axe to VPE after the Eagle disaster but couldn't bring myself to sell all of these.  

Must say it can be an exercise in frustration though

Roll on Canning I say.

Onwards and upwards


----------



## porkpie324 (14 June 2007)

*Re: FAR - First Australian Resources*

I attended a Gold Coast seminar today where chairman Mike Evens gave a very good presentation, will definatly be watching these, BTW any other ASF members attending, porkpie


----------



## doctorj (14 June 2007)

*Re: FAR - First Australian Resources*

Was the presentation the same as the AGM and Upstream Energy presentations (refer ASX announcements)?

Did you take any notes you are willing to share?


----------



## porkpie324 (14 June 2007)

*Re: FAR - First Australian Resources*

Doc, don't know about AGM was'nt there, all I know is that I was impressed by what I saw & heard. Hartleys have a spec buy on them, as I said will be researching some more and tracking share price. porkpie


----------



## doctorj (14 June 2007)

*Re: FAR - First Australian Resources*

FYI the attached link is for the presentation that was used both at the AGM and Upstream Energy Conf.  I'd be very interested to hear if the one you saw was the same.

http://www.far.com.au/files/asxannounce/Elodge ID458580 23May07 - Upstream Energy 2007.pdf


----------



## porkpie324 (14 June 2007)

*Re: FAR - First Australian Resources*

FYI the attached link is for the presentation that was used both at the AGM and Upstream Energy Conf. I'd be very interested to hear if the one you saw was the same

Looks exactly the same to me Doc, porkpie


----------



## rub92me (14 August 2007)

*Re: FAR - First Australian Resources*

With EGO and now EMR going gangbusters on Canning Basin anticipation it is a bit puzzling that FAR has been sliding backwards. An opportunity perhaps??


----------



## Pommiegranite (14 August 2007)

*Re: FAR - First Australian Resources*



rub92me said:


> With EGO and now EMR going gangbusters on Canning Basin anticipation it is a bit puzzling that FAR has been sliding backwards. An opportunity perhaps??




I did hold FAR, but just sold out to plough into EMR for greater leverage in CB. With Senegal a year away, I still plan on buying back into FAR, but don't need to rush.

Still a great company, with a nice cash postion.


----------



## doctorj (31 August 2007)

*Re: FAR - First Australian Resources*

http://www.worldoil.com/Magazine/MAGAZINE_DETAIL.asp?ART_ID=3273&MONTH_YEAR=Aug-2007



> Offshore Senegal , Hunt Oil, First Australian Resources and Societe; Petroliere du Senegal (Petrosen) have discovered heavy oil on the Sangomar-Rufisque Block. Few details were given, but a Senegal Ministry of Energy spokesman said that the discovery may have 1 billion bbl of oil, although it was not clear if this represents an in-place or recoverable volume




Probably a case of poor journalism (poor research) given FAR haven't announced anything (even that they were drilling it), but a nice dream none the less.

The company and the author have been contacted for clarification.


----------



## debono (4 September 2007)

*Re: FAR - First Australian Resources*

Hi Doc et-al

below is response I received. The attachment is a pdf and I am not sure how to attach here. Basically says that it is all good for Senegal and that they are expecting those sort of figures drilling late 2008 with production 2009. 
All just optimism until we at least see some seismic results.

cheers

debono








Steve,

Attached is the source that I used for the section in my World Oil Exploration & Discoveries column in August on offshore Senegal.  It appears that I misunderstood the announcement.  There has been no discovery and no drilling yet on the Sangomar-Rufisque block.  This was merely an optimistic statement by the Director General of Petrosen.  You can view FAR's Website for an update on activities:  www.far.com.au .

I will post a correction of this mis-information in my upcoming World Oil column.

Sorry for the confusion.

All the best,

Art


----------



## doctorj (4 September 2007)

*Re: FAR - First Australian Resources*



debono said:


> The attachment is a pdf and I am not sure how to attach here.



Good to see you here debono.

When you click reply,  beneath the text box where you type your message is another section of "additional options".  Within that box, is a section entitled "manage attachments".   From here it should all be pretty apparent.

You may need to enable pop-ups in your browser to make it work.


----------



## doctorj (4 September 2007)

*Re: FAR - First Australian Resources*

Here are some thoughts (taken direct from my notepad) written down following today's announcement about Valentine.
- 'several metres' will refer to gross pay, as opposed to net.  So the question is, will it flow?
- slow drilling indicates well concreted sandstones at the anderson/fairfield levels, so it may not flow real well
- however, if the 2 points above are true, then why stop drilling to evaluate?  Why incur the added costs of intermediate logging? (is it possible this is just to provide more data for arq's surrounding tenements?)
- if there is gas, does it mean the seal on the virgin hills formation is likely bad causing gas to leak to anderson/fairfield?
- or does the continued slow drilling indicate the likelihood of a good seal on the virgin hills formation and these gases are additional (or even residual or the cause of the concreting)?
- either way, probably not an indicator of the potential of the virgin hills formation.

Discuss


----------



## Trade wind (19 October 2007)

*Re: FAR - First Australian Resources*

Here are my thoughts on FAR. I posted this under CIG, so I might as well post here as well:

One to keep an eye on is FAR (First Australian Resources), a busy oil junior with JVs in North America and China (Beibu Gulf), now drilling in Canning Basin (ARC the major operator). Seeing some interest on the strength of WA operation, but this one promises much bigger fish with their offshore Senegal holding (30% with US operator Hunt Oil the main partner). I'm holding to see their 3D seismic results due this quarter, after company has flagged "promising" early results. Could be very interesting, though only drilling will really tell - might also be one for down the track.


----------



## Trader Paul (26 October 2007)

*FAR - First Australian*



Hi folks,

FAR ... looking for a positive move, from 291202007
to 02112007, two significant and positive cycles
come into play ... 

At the same time, it would not be surprising to
see a capital raising here, as a third, but
negative time cycle slots into position, as well.

happy days

  paul



=====


----------



## Trader Paul (4 December 2007)

*Re: FAR - First Australian Resources*



Hi folks,

FAR .... will be looking for some good news, around 12-14122007,
as 3 positive cycles come into focus ... an oil discovery ... ???

 ... and recently, a trading bot has building or unloading a 
position in FAR, without moving the price too much ... 

have a great day

   paul



=====


----------



## coffee (29 December 2007)

*Re: FAR - First Australian Resources*

I think FAR will see a spike in the sp come january.  BG is spud with SGT on it's way to oil...

Coffee


----------



## YOUNG_TRADER (3 January 2008)

*Re: FAR - First Australian Resources*



coffee said:


> I think FAR will see a spike in the sp come january.  BG is spud with SGT on it's way to oil...
> 
> Coffee




I think your right Coffee,

FAR has 2 drilling programs under way

1) Beibu Gulf, Offshore China, follow up exploration program to last years success, success at any one of the 4 well program would add 4c to FAR's sp

Given the current rate of drilling (500m's a day) we should know if there's oil present within the next few days

2) South Gross Tete US, there are 2 components to this well, the shallow target which would add 2-5c to FAR's SP value depending on the level of Gas and Oil present and the deeper component which could add $1+ to FAR's value

This well has been drilling for sometime and should yield a result by the 10th of January according to my calculations


In addition to this, FAR has been assessing and analysing 3D Seismic for its Sengal projects and should very shortly been announcing drill targets/leads which are estimated  to be 400M bls to 1Billion Barrel + Targets, such an announcement would no doubt warrant a re-rating of FAR

I expect the stock to continue trade up in anticipation of drill results from either of the 2 programs with the wild card being the Sengal announcem,ent detailing well target sizes etc etc


Thoughts?

p.s. I'll put all my thoughts into a YT style analysis soon


----------



## YOUNG_TRADER (3 January 2008)

*Re: FAR - First Australian Resources*

*FAR*​
*
Mkt Structure*
*
Shares*
485m 


Mkt Cap @13c = $63m Current
Mkt Cap @17c = $83m Target 1 if 1 Beibu Guld well hits oil or if Shallow South Gross Tete hits hydrocarbons
Mkt Cap @30c = $145m Target 2 when Sengal 400M bbl + targets identified 
Mkt Cap @$1 = $485m Target 3 if Deep South Gross Tete hits hydrocarbons 


* Cash $10m * + $1.3m p.a. operating cash flow = Very well funded

*
Production*
FAR is a well funded junior oil and gas explorer with many High Impact company making projects. It utilises about $1.6m p.a. of Net Revenues to help fund its extensive exploration program


*
Projects*
*
United States Projects**  Oil and Gas, varying 5% - 15% interests, U.S. *

FAR has many US based projects with some currently in production generating about $1.6m p.a. in net revenue which assits in paying for exploration costs etc

FAR has had recent success in the US and a few of its projects are being tied into production and this will increase the net revenue figure to around say $2m p.a.

However the main interest here is the current South Gross Tete well,

The shallow target if successful would *add 2-5c to FAR's SP*

However it is the deeper target that is of interest, if that is successful it would *add another $1+ of value to FAR's SP * 

_The well was estimated to take 52 days to reach Target Depth and spudded on the 23rd of November which gives a *rough expectation of 14 January for a result* here_ however interim oil shows can and should be expected along the way.


*
Beibu Gulf  Oil and Gas, 5%, Offshore China *

Last year the Beibu Gulf JV discovered Oil with an estimated recoverable resource of 20M bls - 40M bls of oil, steps have been taken to commence production from this new discovery

However of great interest is the fact that FAR is participating in a follow up exploration program of 4 wells.

*Success at any one of the 4 wells should add 4c to FAR's value*

The first well spudded on the 1st Jan and 24hrs later was already at 560m's of a total 2,425m depth, *at this rate TD should be reached by Monday the 7th ie this monday*

As these exploration wells are follow ups to the discovery and based on the same high quality 3D as that of the discovery Wildcat the probability of a success here is much higher than usual.


*
Australian Projects  Oil and Gas, 10%, Australia *

The company has a few Oil and Gas projects in Australia, with its main ones being that of the Canning Basin projects

Although Valentine failed to encounter any hydrocarbons, there is still hope that Stokes may be able to produce some small commercial quantities of oil and gas,

Follow up drilling is planned in the coming months


*
Canadian Projects  Oil and Gas, 15% - 35%, Canada *

FAR has completed extensive 3D seismic over some of its Canadian prospects and now intends to market/farm them out

Marketing was scheduled to begin in December with target/lead sizes etc etc


*
Senegal  Oil and Gas, 30%, Offshore West Africa *

FAR is partnered with Hunt Oil and main present an attractive take over target depending on the size and quality of the leads it identifies, it must be remembered that this is the acerage that took Hardman from $10m to over $1.5Billion when it was taken over by Tullow Oil,

I'm sure Tullow, Hunt, Petrobras and Petronas are all watching and waiting to see what the High quality 3D seismic uncovers

The results of the survey are somewhat overdue (as with most resource projects) however I believe this holds the wild card for a rather large re-rating, as expectations are that FAR has many 400M bl + to 1Billion Barrel + targets within its acerage

*
Summary*
*- Production from the US currently running at $1.6m p.a. and set to rise
- Production from China will come online late 2008
- Many high impact wells US = up to $1 value/China = up to 15c value /Canada ? /Aust ?
- Sengal targets should cause a rerating
- Chart wise looks to have bottomed*


Thoughts?


----------



## doctorj (3 January 2008)

*Re: FAR - First Australian Resources*

YT, I'll post my critique shortly - I'm beginning to think you're following me around.  

Care to share how you've come up with your valuations?


----------



## pan (3 January 2008)

*Re: FAR - First Australian Resources*

thanks for the report. YT
have you brought in yet?
how come you have got MHL on the top?
thanks
pan


----------



## YOUNG_TRADER (3 January 2008)

*Re: FAR - First Australian Resources*

lol, hey Pan I use the formatting from previous posts, ie colour bold etc, well Prawn solved that

Hey Doc, all my valuations are based on the research reports of Peter Strachan of Stock Anaylsis and Hartleys,

There is some discrepancy between the 2 but that is becuase of the reports having the interest FAR has wrong,

See the following reports on the FAR web page

http://www.far.com.au/files/research/Hartleys Research FAR-20070226.pdf

http://www.far.com.au/files/research/StockAnalysis Issue 33 Vol 2 December 14th 2005 FAR.pdf

The important thing to remember is that these reports are outdated and oil is no longer $50 a barrel or $75 but $100 a bl, thats right $100, as such the EV valuations and profitability assumed by Strchan and Hartleys is too low,

I have access to Stock Analysis and Peter has done many updates on FAR, however as these aren't on the web page I don't want to reproduce them as people have gotten in trouble in he past for abuse of copyright etc

So I'm clear every report I provide links to or any pics attached are available on FAR's web page here 

http://www.far.com.au/research/

There is also a bunch of interesting articles to read comparing FAR to Hardman early days etc


p.s. Doc great minds.........


----------



## YOUNG_TRADER (3 January 2008)

*Re: FAR - First Australian Resources*

Following on with what I was saying I just checked and Hartleys have on their private client web page an updated research report of FAR as at the 8th June 2007 which puts a speculative buy with a *target of 32c-64c*

For whatever reason the company has not put this on their web page and as such I don't want to republish it (to avoid any issues etc)

Maybe someone should call the company up and ask them to put it up there?

I notice Warick Grigor of Far East Capital is a director of FAR, I wonder if he's done any research on them as well but for whatever reason it wasn't put on the company's web page


----------



## mick2006 (3 January 2008)

*Re: FAR - First Australian Resources*

nice piece of research there YT, there are few if any junior oil companies with the potential upside of FAR, short term you have the drilling results out of China/US which given the current oil environment will move the shareprice on any good news, but in the medium to longer term it is the Senegal leases that will be the driver.  

The leases in Senegal are in oil elephant territory and as I will highlight below the value of FAR's 30% interest would already be worth around $300 million even before a drill rig touches the surface, below is a part of a recent hartley's report outlining the massive dollars international oil companies are paying for oil exploration leases in West Africa.

Unprecedented Interest in West Africa

With the major oil companies searching the globe for areas with potential for huge oil fields, under explored West Africa has captured their attention. West Africa continues to be viewed by the industry as one of the few regions outside the Middle East capable of hosting big enough hydrocarbon reservoirs to attract the major oil companies. As illustrated in Figure 1, there are a number of majors that surround FAR’s acreage including Woodside Petroleum Limited, Dana Petroleum Plc, Tullow Plc and Edison International. *FAR is the only junior ASX listed company along the Mauritania-Senegal-Guinea Bissau offshore trend.*

Recent activity in West Africa by some of the majors include:

• Edison completed a 1,500km² 3D seismic survey in the Rufisque Deep Offshore block to the north.
• Kuwait Foreign Exploration Co recently purchased BG Group PLC’s interests in Mauritania for $128 million.
*• A recent auction of acreage in the Congo Basin, offshore Angola, for three deepwater exploration tracts saw international oil companies bid in excess of US$3.1b in signature bonuses alone. This amount is reportedly the highest ever offered for exploration anywhere in the world.*
• Gaz de France has recently agreed to study the feasibility of an LNG project based on deepwater gas discoveries in nearby Mauritania. 	


Also of interest is the article by Resource Stocks Magazine comparing FAR progress to that of HDR at the same stage (link below, see page 2 its mind boggling how much upside FAR has due to the Senegal Leases)

http://www.far.com.au/files/research/Resourcestocks FAR 21 Mar 07.pdf


But what is almost unbelieveable is the valuations of what an actual oil discovery in Senegal would mean for FAR's share price (what YT has included in his research is the value of FAR's Senegal leases when the seismic survey results are released not if they actually discover oil)


Below are some figures from the Huntley's Research outlining the possibilities of a Senegal Oil discovery, and these are only two of the known targets.

(C1Prospect)  180-320mmbo  $2.66-$4.73 per share
(N3Prospect)  120-418mmbo  $2.12-$7.37 per share


The fact that oil has now hit the $100 a barrel mark, will mean any positive exploration news will send FAR flying, with results due from the first of four wells in China next week, and the results also due shortly from the high impact South Grosse Tete in the US along with the Seismic Survey results out of Senegal it will be a great time to be holding FAR.

Another interesting point is FAR is one of Fat Prophets long term oil holdings and don't be surprised once the Seismic Survey results are released from Senegal that they will re-cover the stock with a higher price target meaning more likely buyers from people that subscribe to the newsletter.


----------



## doctorj (3 January 2008)

*Re: FAR - First Australian Resources*

Here are some poorly organised thoughts on some of the points you made.

Senegal
For me, Senegal is the great 'hope' but I can't help suspecting about 1bbo of targets are already factored into the SP. These have already been identified by old 2d seismic. 3d seismic will help sure up drill targets - the potential upside is the chance of finding new targets. I doubt we'll see the drill bit test any of these targets for until late this year at the earliest and to do say FAR will have to either farm down to be free or near free carried or self-fund their share for a single drill and hope.

Which brings me to capital raisings. Notwithstanding Senegal which is likely to cost >$10m per drill, $1.3m/yr and $10m in the bank is not enough to self fund a reasonably active oil & gas junior looking for meaningful stakes if drills. Most of their production is from mature fields and likely to decline significantly.

I spoke to the company recently and they expect to finish processing the 3d seismic and target generation during q1.

Beibu 
Beibu is excellent and the 3 or 4 well drilling program has the potential to unlock a lot of value for participants. All drilling in this program should be completed this quarter and each well should be quite quick to drill. As you say, they've been drilling and interpretting Beibu for years and the operator knows the geology quite well. Accordingly the chance of success is relatively high.

It should be noted that CNOOC has the option to farm in to the Beibu for 50%, giving FAR a potential 2.5% stake. 

USA
Lake Long has been fantastic for FAR, but its worth keeping an eye on the old dog that is the Eagle Prospect. Also, FAR has a 34% stake in a large project called NE Waller. It's in a lightly explored area on trend with significant Eocene production and with target structures identified by 2d seismic in the 80's. 50km² of seismic has been shot and they're currently procesing.

The data you've used to calculate the value of the SGT shallows is out of date - FAR farmed down to a 5% interest (from memory) above 14,500ft.  They've retained their interest in the larger deep target should the operator lodge a proposal to drill on.

Australia
I think Stokes Bay found something important for the whole Canning Basin and Arc, but I doubt its going to be a producer. I suspect the mud has damaged the formation and we're unlikely to see the rest of the drilling mud and hydrocarbons when they go back to have a look at the end of the wet. Perhaps a sidetrack and a better prepared mud engineer is in store in a few months?

Duomonte and Little Joe are very interesting as well and its worth keeping an eye on Apache to see if they slip it in their drilling program after the wet.


----------



## Trader Paul (4 January 2008)

*Re: FAR - First Australian Resources*



Hi folks,

FAR ... disregarding the fundamentals, the attached file contains some
detailed, but simple Gann astroanalysis and an updated FAR chart ... 

happy days

  paul



=====


----------



## YOUNG_TRADER (4 January 2008)

*Re: FAR - First Australian Resources*

Hey Doc,

Yeah I know about South Gross Shallow that its down to 5% but Peter Strachan still recently valued the shallow target at 2c-5c from memory


But the Deep target interest is still just under 18% so that the $1 value given by Strachan back then is ok, if anything its way undervalued given that oil back in late 05 was probably $60 US vs $100 US now


I really doubt Senegal is factored into the price, Strachan recently commented that FAR's hard asset and cash value is 9c and any success at Beibu will take that to 13c at which point all of FAR's exploration assets incluusing Senegal are free

So all we need is success at Beibu on monday/tuesday next week
and at current levels we get a free option on Senegal, Australia and Canada


----------



## mick2006 (4 January 2008)

*Re: FAR - First Australian Resources*

with Huntley's and Fat Prophets aboard FAR, all we are waiting for now is some positive seismic results out of Senegal for the re-rating to kick into full gear this will start up a whole heap of new research reports and recommendations.

Below is an article written about the similarities between HDR and FAR, remember between when HDR announced their seismic results in Mauritania and when they started drilling there, their shareprice mulitplied by 10, this is the stage FAR is just heading into to.

http://www.far.com.au/files/research...20Mar 07.pdf


----------



## kpas (4 January 2008)

*Re: FAR - First Australian Resources*

This is on the verge of breaking out just from looking at how heavily weighted the spread is.

BUY SELL 
Number Quantity Price 
4 154,000 0.145 
4 1,353,582 0.140 
7 1,787,222 0.135 
9 1,295,080 0.130 
6 2,180,000 0.125 
12 2,181,685 0.120 
10 2,626,800 0.115 
9 2,079,660 0.110 
2 250,000 0.105 
1 200,000 0.100 
 # 
1 
2 
3 
4 
5 
6 
7 
8 
9 
10 
 Price Quantity Number 
0.150 346,736 5 
0.155 799,480 8 
0.160 769,453 2 
0.170 345,000 3 
0.175 148,600 1 
0.180 18,008 1 
0.200 36,000 2 
0.250 40,000 1


----------



## Pat (4 January 2008)

*Re: FAR - First Australian Resources*

YT you must have access to some pretty interesting information.
The day after you post your research the volume goes off. Or maybe it it was just you buying and soaking up sellers? 

I saw your research last night, had a look myself this morning and saw some potential.



Perhaps an up trend to come as previous volume spikes where followed buy up trends. Maybe there good at leaking the news? It was good to watch as the sp broke 15 cents then stuggled to hold there.

A good chunk of the buy side was taken just before close, almost 2.5 million shares traded within 5 mins. Directors jumping ship? hahaha

Thanks for your research guys, one to watch for monday morning.


----------



## Gekko (4 January 2008)

*Re: FAR - First Australian Resources*

What no mention of Japanese Whaling Pat. I read the government has delayed sending off the whaling vessel.  This company looks intersting. Pity ive been away for a few days. When are results expected?


----------



## YOUNG_TRADER (6 January 2008)

*Re: FAR - First Australian Resources*



Pat said:


> YT you must have access to some pretty interesting information.
> The day after you post your research the volume goes off. Or maybe it it was just you buying and soaking up sellers?




lol, I think it has more to do with the spudding of the Beibu Gulf well, this is the first of 4 wells which will be drilled back to back and given the fact that the wells are a step out/follow up to the discovery made last year increase the probability of a discovery, I'd say at least to a 1 in 4 chance, which given the fact that 4 wells are to be drilled back to back would arguably suggest at least one discovery should be made.

As I worked out before, we can expcet a result for the first well by Monday/Tuesday if everything went to plan

However of even more importance is FAR's US drilling currently underway, should the deep target come in it holds $1+ of value to FAR!

And finally there is the overdue seismic interpretation for Sengal which once released will outline well/target sizes, I expect a re-rating on the back of this.


----------



## adobee (7 January 2008)

*Re: FAR - First Australian Resources*

I have only had a quick look at this after noticing others posts but it really had volume on Friday compared to the past few months.. and is getting chased up this morning when the market is red.. someone must be expecting positive results aside from YTrader..

Young trader are you subscribed to any newsletters that alert you to these little gems or you just troll through every stock which isnt yet run hard ????


----------



## YOUNG_TRADER (7 January 2008)

*Re: FAR - First Australian Resources*



adobee said:


> I have only had a quick look at this after noticing others posts but it really had volume on Friday compared to the past few months.. and is getting chased up this morning when the market is red.. someone must be expecting positive results aside from YTrader..
> 
> Young trader are you subscribed to any newsletters that alert you to these little gems or you just troll through every stock which isnt yet run hard ????




Hey adobee, 

I try and keep an eye on as many things as I can, but I can only do this by having access to as many research and analytical reports as possible,

It was Peter Strachans Stock Analysis that kept me updated about FAR over the last few weeks

I am impressed with how FAR has traded today so far, it seems I am not the only one waiting for these Chinese and US wells


----------



## doctorj (7 January 2008)

*Re: FAR - First Australian Resources*

FAR is up, but AMU, HZN and ROC are flat or down...

If it's out that SGT is looking the goods, I'd expect AMU to be trading a lot stronger than it is...


----------



## evwatkins (7 January 2008)

*Re: FAR - First Australian Resources*

i just put an order in for 66,000 @ 0.155 im second in line so should fill soon, i didnt want to miss the boat sitting behing the 900,000+ sitting at 0.15

anyway see how things go


----------



## pan (7 January 2008)

*Re: FAR - First Australian Resources*



evwatkins said:


> i just put an order in for 66,000 @ 0.155 im second in line so should fill soon, i didnt want to miss the boat sitting behing the 900,000+ sitting at 0.15
> 
> anyway see how things go




Well it went through. Where do we see this share closing today? hopefully above 15cents at least... hopefully the dow is up tonight.


----------



## JTLP (7 January 2008)

*Re: FAR - First Australian Resources*

Whats the chances of getting an announcement today?
I'm hoping FAR to finish around .15 to .155. It has touched .16 quite a few times and would be nice to finish there, but if it closes at .155 we should see a nice gap up tomorrow with the pending results (if they dont come out today).

In conclusion, results out today or no?


----------



## fodder-oz (7 January 2008)

*Re: FAR - First Australian Resources*

yeh lets hope this one gets some good news. I also got some at 15.5c wishing i got in a few hours early when it was at 14c a few days ago when i bought. Looks very promising, lets hope


----------



## rub92me (7 January 2008)

*Re: FAR - First Australian Resources*

This run up looks very similar to the last one, which was a prelude to a "mates rates" deal to raise some more money. Still holding some of this for long term glory, but not holding my breath just yet. The lofty targets that have been bandied about are still a couple of years away imho, if they ever get there...


----------



## YOUNG_TRADER (7 January 2008)

*Re: FAR - First Australian Resources*



rub92me said:


> This run up looks very similar to the last one, which was a prelude to a "mates rates" deal to raise some more money.





Hi rub,

Can you please fill me in n what happened last time?

Did they wait until a well was being drilled and then do a placement to "mates" ?

They have $10m in the bank, I would be very surprised and dissapointed if they do a placement now, I really would.

From your post you've obviously been following the story longer than I so I am interested to hear your experience's with it so FAR (pardon the pun  )


----------



## Pat (8 January 2008)

*Re: FAR - First Australian Resources*

Not sure if the ann re china drilling is what the market is so excited about, I'm under the impression FAR only holds 5% interest in these. These tests are said to be completed late 07 to early 08 but this doesn't mean they're ready to be released.
I'm hoping the results from Senegal have been leaked as this is the big one IMO. These tenements are definitely FAR's wild card!!!
FAR will be a definite target for a major if these results are positive. From what I've read, they are surrounded by majors in Senegal... Woodside, Tullow... Good long term punt IMO.


----------



## Trader Paul (8 January 2008)

*Re: FAR - First Australian Resources*

 

Hi folks,
FAR ... if we marry our regular TA with some astroanalysis, then we can
see, that there should be enough positive cycles to keep FAR in an uptrend:

         10012008 ... minor cycle

    15-16012008 ... significant and positive cycle ... finance-related ???        

         22012008 ... positive news expected here.

         05022008 ... more news expected ... start of a new upleg???

    08-11022008 ... 2  positive cycles to lift FAR, again.

    04-07032008 ... 2 aspects to bring positive news and a .22 high, here ???

         10032008 ... negative spotlight on FAR

1403-02042008 ... 2 opposing and underlying cycle here for FAR, may make
                              for some volatile trading, especially, around:

         28032008 ... 3 significant and negative cycles are triggered by a lunar
                              aspect, while another positive cycle is also in play. So,
                              expect some significant events here for FAR. Looking for a low ?


 ... and then,  April should be stronger for FAR:

     Our mechanical target date, calculated from the price move above (in days),
     gave us 03042008, as a target in early April.

     Soon after that target, our astroanalysis has uncovered several positive 
     cycles to lift FAR off its lows or breakout from resistance, at that time:

         08-09042008 ... positive spotlight on FAR

         11-14042008 ... significant and positive news expected here

         18-21042008 ... difficult cycle in play here ... negative ... pullback???

         21-22042008 ... significant  and  positive cycle ... finance-related???

         25-28042008 ... difficult cycle here, but more news expected.

         Next round of positive cycles for FAR, should get started, around 28072008.


          More later .....

          happy trading

            paul




          =====


----------



## rub92me (8 January 2008)

*Re: FAR - First Australian Resources*



YOUNG_TRADER said:


> Hi rub,
> 
> Can you please fill me in n what happened last time?
> 
> ...



With Canning Basin on hold for the rainy season, there won't be any revenue coming out of that for a while. Senegal will need more money and they probably don't want to dilute their holding there just yet (although I think it is likely that they will need to in the future). Previous raisings have typically come on rumour/possibilities of drilling success. If you can get insight in who are the large traders in FAR at the moment, that would be telling. If Evolution Capital Management is involved, it could be another raising. Time will tell I suppose. I've decided to hang in there for another year or so to see what transpires.


----------



## YOUNG_TRADER (8 January 2008)

*Re: FAR - First Australian Resources*

Well still no news re the Chinese well,

Based on their prior progress I would expect something by tomorrow re the well

However given JMS's performance today on a good ann it makes me think that only penny dreadful stocks ie FDL, BMO, RCH, GDA, ORO, RSL, GNL will run in this market which really makes no sense at all


----------



## pan (8 January 2008)

*Re: FAR - First Australian Resources*



Trader Paul said:


> Hi folks,
> FAR ... if we marry our regular TA with some astroanalysis, then we can
> see, that there should be enough positive cycles to keep FAR in an uptrend:
> 
> ...




Hey paul may I ask how you come about all these predictions? and what is your success rate like?


----------



## wildmanchris (8 January 2008)

*Re: FAR - First Australian Resources*

I think Paul's following Astronomy - a few people that deal with my work do it.  Very hard core stuff if you dont know it, but they have some success with it.  I might be wrong though........


----------



## doctorj (8 January 2008)

*Re: FAR - First Australian Resources*

Paul's discussed the way he does analysis extensively in the past - it's worth doing some searching (though I can't remember if it was here or at an old forum - try looking for yogi-in-oz).

If you don't have any luck, feel free to start a new thread on Paul's astroanalysis - I'm sure many people have the same questions you do.

In the mean time, lets keep this thread about FAR as much as possible.

Drilling announcements tend to surface about once a week, so I wouldn't be surprised if the market gets updated tomorrow.


----------



## JTLP (9 January 2008)

*Re: FAR - First Australian Resources*

FAR have been updated, but when will actual results be known?
When I saw the news ann I was hoping for a 3 in one (US, China + Senegal) :


----------



## YOUNG_TRADER (9 January 2008)

*Re: FAR - First Australian Resources*



YOUNG_TRADER said:


> 1) Beibu Gulf, Offshore China, follow up exploration program to last years success, success at any one of the 4 well program would add 4c to FAR's sp
> 
> Given the current rate of drilling (500m's a day) we should know if there's oil present within the next few days




I am really confused with the progress being made at Beibu,

Over the first 24hrs they progressed 500m's, yet over the last few days only a further 300m's was drilled,

Confused??????????


----------



## bigt (9 January 2008)

*Re: FAR - First Australian Resources*

Current operations are BOP testing - I thought BOPs were only used on producing wells? (note, I'm no expert on oil drilling).


----------



## jtb (9 January 2008)

*Re: FAR - First Australian Resources*



bigt said:


> Current operations are BOP testing - I thought BOPs were only used on producing wells? (note, I'm no expert on oil drilling).




Hey big,

Got to test the integrity of your blow off protector before proceeding or she may   fail when required.


----------



## doctorj (10 January 2008)

*Re: FAR - First Australian Resources*

A new article is available on the FAR website.

http://www.far.com.au/files/research/Petroleum magazine gulf coast article_Nov 07.pdf


----------



## stu_lee44 (10 January 2008)

*Re: FAR - First Australian Resources*

Hi guys,did you see the 2m sell order@14c this morning? Is there any substantial holder who are selling?Hope it's bited soon.


----------



## fodder-oz (10 January 2008)

*Re: FAR - First Australian Resources*

Hope this one goes back up a bit soon. I'm wishing I bought at 14c rather then 15 a week ago.

Any further news on drilling expected soon? I guess the last report wasn't all that positive but I guess this is more a longer term hold then short term, I'm thinking..


----------



## YOUNG_TRADER (10 January 2008)

*Re: FAR - First Australian Resources*



stu_lee44 said:


> Hi guys,did you see the 2m sell order@14c this morning? Is there any substantial holder who are selling?Hope it's bited soon.




Hmm I didn't see that, but I have seen a few big sells, it could be traders getting out, or it could be a major holder selling, with the only explanation being what Rub suggested, a placement to mates at a samll discount, say 13c, I really hope not as the company does not need cash at the moment.



rub92me said:


> This run up looks very similar to the last one, which was a prelude to a "mates rates" deal to raise some more money.




Doc you've watched this longer than I have, what do you make of the big sells?


----------



## doctorj (10 January 2008)

*Re: FAR - First Australian Resources*



YOUNG_TRADER said:


> Doc you've watched this longer than I have, what do you make of the big sells?



Historically, FAR has promised a lot (Eagle, Welder, SGT, Eagle, Kicker, CB and now SGT again) and to date it has consistently fallen short of those promises.  As a result, I think there are a lot of stale bulls looking for a leg out at a reasonable price (I personally know know of a few).  I might fall into that bucket too - despite having very interesting prospects the opportunity cost of my holding continues to mount.  I'm well in the green, but I don't think the return I've received to date has been commensurate to the risk relative to the market.

The alternative is that it's being played by Evolution, but I've got my tin foil hat on at the moment, so I can't hear the voices right now


----------



## jtb (10 January 2008)

*Re: FAR - First Australian Resources*



doctorj said:


> Historically, FAR has promised a lot (Eagle, Welder, SGT, Eagle, Kicker, CB and now SGT again) and to date it has consistently fallen short of those promises.  As a result, I think there are a lot of stale bulls looking for a leg out at a reasonable price (I personally know know of a few).  I might fall into that bucket too - despite having very interesting prospects the opportunity cost of my holding continues to mount.  I'm well in the green, but I don't think the return I've received to date has been commensurate to the risk relative to the market.




Amen Doc,

I bit the bullet and bailed in June.  
Considering that in early 2006 I was buying  CVN @ 3c and FAR @ 11-12c (and held through the BG spike because thats the kind of guy I am) after 18 months 16.5c was nothing to get too excited about.
I don't like their business plan (is it a plan or is it just lack of ability) and started to get the vibe that I may be stuck with another VPE
Just glad I bailed pre-consolidation @ 26c (equivalent) on VPE (after buying @40c).

Eagle..............

The emerging wave of nationalisation we are seeing in oil  resources combined with the let down in Mauritania was enough to keep me wary of Senegal.


----------



## kiwi (10 January 2008)

*Re: FAR - First Australian Resources*

I was a holder of Hardman from 1996 through to 2001. The FAR story is very similar except FAR has had more minor success than Hardman ever had prior to  the start of Mauritainia drilling.  With Hardman the movement in share price  was on the anticipation of drilling at Mauriatinia only. With FAR the movement in Share price appears to be on minor discoveries (Beibu) so far. I am not convinced that the market has built in any anticipation of Senegal yet. That may come when the 3D results are published and we may see some significant and sustained price movements unless current drilling produces positive results. I would think that that would be the best time for any capital raising (I seem to recall a rights issue of 1 for 3 at 30 cents in 2000 at Hardman prior to drilling in 2001.)

"When Kiwis emigrate to Australia the IQ of both nations increases" Rob Muldoon


----------



## YOUNG_TRADER (14 January 2008)

*Re: FAR - First Australian Resources*

Hey guys,

Still no updates from FAR re Senegal and the Chinese program is going alot slower than I thought but at least we know we can can expect news soon from FAR as it has some much happening

From my previous calculations I was expecting an update at the SGT gas well by the 10th which was Thursday, like the Chinese program it may be running a few days behind schedule,

The deep target does offer alot of upside ( *$1 approx* ) 

Waiting patiently 



YOUNG_TRADER said:


> South Gross Tete US, there are 2 components to this well, the shallow target which would add 2-5c to FAR's SP value depending on the level of Gas and Oil present and the deeper component which could add $1+ to FAR's value
> 
> This well has been drilling for sometime and should yield a result by the 10th of January according to my calculations


----------



## doctorj (14 January 2008)

*Re: FAR - First Australian Resources*

I don't think the Chinese program is behind schedule - I'd expect something from there in a couple of days.

As for Senegal, Colin said some time Q1 this year.


----------



## YOUNG_TRADER (14 January 2008)

*Re: FAR - First Australian Resources*

Well I just had a good phone call from the broker,

It turns out that some results were recieved for the SGT well but haven't been anounced by FAR yet,

They were announced by FAR's JV partner AMU (see the ann at 10am or something)

Apparantly there have been gas shows while drilling at around the 12,000 foot deep level,

While this is still preliminary what it does do in my opinion is upgrade the prospectivity of the deeper (*more important to FAR*) target as this holds a *potential $1+ value to FAR*

The shallow target only holds a few cents of value to both FAR and AMU and thus didn't have much of an impact on AMU, however as I said it makes the deeper target look alot more plausible which will be company maker for FAR,

I'm unsure why FAR has not released the results yet  , I'm going to try and call them

Below is an extract from AMU's ann today, note the South Gross Tete target (SGT) is being targeted by the Schwing well


----------



## doctorj (15 January 2008)

*Re: FAR - First Australian Resources*

For those keeping track of projects other than Senegal, China and SGT, this came out today from Emerald on Stokes Bay.



> A recent JV meeting discussed the areal extent of the structure intersected by the Stokes Bay 1 well which could still have significant gas and condensate resources. Pressure gradient studies indicate that the Nullara reefal carbonates could be hydrocarbonbearing. So far no actual indigenous formations fluid has been recovered, only drilling fluids which invaded the formation while drilling.


----------



## YOUNG_TRADER (15 January 2008)

*Re: FAR - First Australian Resources*

Hey Doc,

I thought Stokes Bay was done and dusted, but it appears I may have been too hasty,

So at the present FAR is working on the following fronts

1. Beibu Gulf China: 3-4 Exploration Wildcats to follow up on discovery field mafe last year, well 1 under way, *potential 4c value per well to FAR*

2. SGT/Schwing: A shallow + deep gas target, so far AMU has reported early signs of Gas at the shallow parts which bodes well for the deeper target which holds *potential $1+ value to FAR*

3. Sengal: 3D Siesmic reinterpreation results, target sizes estimated at 400M bls - 1Billion Barrels, results are overdue, re-rated should occur on the back of the results

4. Canada: Farm out activities for the Canadian prospects

5. Aust: Follow up Canning Basin work, ie Stokes Bay testing

Anything else I have missed?

I like companies that have many potential pay off events underway


----------



## doctorj (15 January 2008)

*Re: FAR - First Australian Resources*

I suspect the value of Nullara is mostly to ARQ with their large holding in the Northern Canning.  I suspect the formation will need to be re-drilled which isn't likely to happen for sometime.

The dark horse is that it may start flowing formation fluids when testing continues.  Who knows what goes on at that depth when I damaged formation is shut in for so long.

You're missing the seismic shoot at NE Waller.  The seismic has been shot and results are likely to be out prior to a North American Petroleum Expo (I forget the name - I've not had a coffee yet this morning) in early February which they'll probably use to farm out prospects.


----------



## YOUNG_TRADER (15 January 2008)

*Re: FAR - First Australian Resources*

Hey Doc,

I dug up some info the *NE Waller prospect* lloks like its another GAS play, but being in the US with record Gas prices, I guess that's a good thing




Primary objectives are multiple normally pressured prolific Eocene sands in structural traps. The area to be evaluated with 3D seismic is on depositional strike with *several nearby fields which have produced over a quarter trillion cubic feet of gas and over thirty million barrels of liquids. Although targeting natural gas, most of the sands in this trend are condensate rich.*Additional objectives comprise highly productive Miocene, Oligocene and Upper Eocene sands. These sands have produced primarily from stratigraphic traps. *A field on trend has produced almost 30 million barrels of liquids and 20 billion cubic feet of gas from this section*. These shallow sands are especially prone to displaying 3D amplitude anomalies.
Deeper potential is also present in a number of high risk – high potential objectives which lie beneath the Eocene section.
The Operator has reported nearby activity where Newfield is drilling a 16,500 foot test approximately 4.5 miles from the survey’s boundary.

The purpose of the 3D program will be to locate optimal drill sites from which the sizeable hydrocarbon potential of the play area may be tested. *Potential reserves in excess of 50 BCFE from future exploration drilling, from the primary objectives alone, are anticipated.*


----------



## doctorj (15 January 2008)

*Re: FAR - First Australian Resources*

The advantage of these kinds of prospects is that the Geology tends to be well understood (as opposed to say the highly fractured Canning Basin), discoveries are very quick to bring online and they're nice and close to existing infrastructure meaning smaller finds are economic.


----------



## stu_lee44 (16 January 2008)

*Re: FAR - First Australian Resources*

A little bit faster than last week.It should be finished at the end of Jan.

DRIILLIING UPDATE: WEII-6-12W-1 EXPLORATIION WELL,, BLOCK 22//12,,
OFFSHORE CHIINA
Roc Oil (China) Company, a wholly owned subsidiary of ROC, advises as at 0600 hours
(local time) on 16 January 2008, the Premium "Murmanskaya" jack up drilling rig is
currently drilling a 12-1/4" hole section at a depth of *1,684 mBRT*.
The forward plan is to drill ahead to 1,860 mBRT to set 9-5/8" casin


----------



## YOUNG_TRADER (16 January 2008)

*Re: FAR - First Australian Resources*

Well we got updates on 

Beibu Gulf China: Everything seems to be progressing but at a slow and steady pace


We also finally got the AMU related SGT update, which as I said mentions gas shows in the upper section which I would think upgrades the prospectivity of the lower target which is the one that matters to FAR

However given the blood bath today, its no wonder that the market doesn't care


----------



## scottle (16 January 2008)

*Re: FAR - First Australian Resources*



YOUNG_TRADER said:


> We also finally got the AMU related SGT update, which as I said mentions gas shows in the upper section which I would think upgrades the prospectivity of the lower target which is the one that matters to FAR




From the ann: "The above revision to the Schwing #2 well (in which FAR has a 5% working interest between surface and 14,500 feet) means the current wellbore will not be used at a future date to test the deeper Wilcox formation"

I read this as saying they wont be drilling the potential $1ps in this well (greater than 14500ft) So upside is now 4cps max for this well

S


----------



## YOUNG_TRADER (17 January 2008)

*Re: FAR - First Australian Resources*

Oh snap,

I didn't see that,

Thats a bit dissapointing that we'll have to wait for the testing of the deeper Wilcox formation,

But like I said, the early gas shows in the shallow section upgrade the prospectivity of the deeper section


----------



## jdhd (19 January 2008)

*Re: FAR - First Australian Resources*

That was my understanding as well Young-Trader.  I would love to see them go beyond 14500 but it is not on the cards.  I have been holding for 18mths now.  Topped up the other day at 12.5c......can see a real company maker in Senegal.  In the mean time, should be news from China next week and 2 or 3 other 3D seismics due before February.  Should see some price movement soon even if the US is severly impacting the market.  Notice that FAR hasn't dropped down to the level it did when the sub-prime news was first released to the public in August 07.  Pretty safe around 12c I believe, for the time being anyway.  Bring on the news........... jd


----------



## doctorj (19 January 2008)

*Re: FAR - First Australian Resources*

In the oil game, there's always going to bigger, riskier targets deeper.  A commercial find in the shallow section isn't a bad outcome at all if it has a reasonable payback period.  One in the hand vs two in the bush and all that...  I'm not reading it as a disappointment at all.


----------



## Awesomandy (19 January 2008)

*Re: FAR - First Australian Resources*



doctorj said:


> In the oil game, there's always going to bigger, riskier targets deeper.  A commercial find in the shallow section isn't a bad outcome at all if it has a reasonable payback period.  One in the hand vs two in the bush and all that...  I'm not reading it as a disappointment at all.




It sounds to me that they've got enough going in the short-medium term at least, and despite what has been happening in the general market, FAR has hardly moved, staying at around the 12.5c, 13c mark. I think the current annoucement means that it will take a little longer before there are going to be any siginficant upwards movements of the sp, but given that they have quite a few projects running at the moment, I think there's a high chance of very good gains for the patient shareholders.

Having said that though, I'm not buying into this stock - I'm not sure if I'm allowed to do so.


----------



## Georgeb (20 January 2008)

*Re: FAR - First Australian Resources*

Does anyone know when we are expecting news from senegal as 
I see this as the company maker.

I would appreciate any comments on this company...


----------



## YOUNG_TRADER (20 January 2008)

*Re: FAR - First Australian Resources*



Georgeb said:


> Does anyone know when we are expecting news from senegal as
> I see this as the company maker.
> 
> I would appreciate any comments on this company...




Hi George,

All I know is that the Sengal reprocessing/target sizing results were due about 2-3months ago, so as with most overdue resource company announcements my best guess would be anytime now, I know this isn't much help but the results are overdue.

Maybe try and give the company a call, their number is listed on the company web page and is also on asx ann's

Cheers 

p.s. Keep an eye out for the Beibu Gulf program results


----------



## doctorj (21 January 2008)

*Re: FAR - First Australian Resources*

Last I spoke to CH it was Q1 08, but essentially it's ready when it's ready.  Give it a month or two, but unless it comes with a rig and/or a drilling program I don't expect it to do a lot for FAR on the upside for a while yet.  

Results of the first well in the latest Beibu program, SGT shallows and NE Waller seismic (and possibly a drill date and farm in) will be out in the next 20 trading days.

Slightly longer are more detail on Canning Basin and ofcourse Senegal.  Keep an eye on Apache after the wet for Little Joe/Duomonte.


----------



## jdhd (22 January 2008)

*Re: FAR - First Australian Resources*

Hi Georgeb & others,

News on Senegal was due by end of December 07.  Keep in mind however, that FAR is in partnership with Hunt Oil (a private company) and they don't have share holders to keep happy.  FAR is waiting for the news from Hunt.  Shouldn't be too far off.  

This is a brief precis of a very recent recommendation from Stock Resources: (1 or 2 weeks ago)

"FAR is entering an exciting period when it will reveal interpreted targets from a number of seismic surveys including offshore Senegal. Meanwhile a new drilling programme in the Beibu Gulf has a high potential for further discoveries in this region." 

Also close to receiving results of 3D surveys at Wild River (Alberta) and NE Waller (Gulf of Mexico) and will look to promote prospects emerging from these surveys at NAPE in February 2008. North American Prospect Expo (NAPE) is on in Houston Texas on 7 & 8 February 2008.

They expect farmout by Hunt Oil & FAR to drill Senegal & if like Hardman will receive 10 fold increase in SP. 

Stock Resource expect results of these announcements to stimulate market interest.

Wireline logging results expected from Schwing #2 Well, South Grosse Tete, Iberville Parish, South Louisiana next week.

Beibu Gulf entire drilling programme is expected to be completed by the end of 1Q 2008 and will attract a strong market interest in the participating companies over this time period.

Extremely positive recommendation to buy from Stock Resource.

Good times for FAR ahead!!!!!!!!!

jd


----------



## JJKools (22 January 2008)

*Re: FAR - First Australian Resources*

Thanks for the post...I need to read something positive today!!!

Still happy holding FAR. Yep hopefully news is what we are all hoping it to be.


----------



## Trader Paul (23 January 2008)

*Re: FAR - First Australian Resources*



Trader Paul said:


> Posted 08 January 2008:
> 
> Hi folks,
> FAR ... if we marry our regular TA with some astroanalysis, then we can
> ...






Hi folks,

FAR ... "22012008 ... positive news expected here" .....

..... news comes in, right on time ... as forecast above, on 08012008 ... 

So, from our time cycle analysis, we expect to be in a positive period for 
FAR, until the 3rd week in March 2008. 

happy days

 paul



=====

Part of today's announcement, after the closing bell:

Commenting on the announcement, FAR’s executive Chairman Michael Evans said:
“Completion of 3D processing at NE Waller is another step forward in FAR’s transition to
prospect generator in the gulf coast. We are pleased to have multiple targets to add to our
2008 drilling inventory and display to industry partners. *Eagerly awaited results for our
other initiatives in 2007, including Senegal and Wild River, are expected to follow shortly in
what promises to be a watershed year for FAR.”*

For information on FAR’s drilling activities visit our website at www.far.com.au


----------



## doctorj (24 January 2008)

*Re: FAR - First Australian Resources*

Good announcement out today - 50bcf prospect coming out of the Wild River seismic.

Also, so the far website for http://www.far.com.au/files/research/Hartleys%20research_Jan08.pdf new research put out by Hartleys. They believe the Senegal seismic will be out in advance of NAPE.

Hartleys have valued FAR on a risked basis between 22-42cps with an unrisked valuation of 298cps. 

Interestingly, Wild River was valued on a risked basis at 1.4 - 1.9cps based on 10.2bcf recoverable. The identified prospect is 50bcf.


----------



## stu_lee44 (24 January 2008)

*Re: FAR - First Australian Resources*

24 Jan 2008 18:19   Change of Director`s Interest Notice
Warwick Robert Grigor,one of the directors,sold 1m@11c
on Jan 22.Dissapointed!


----------



## rub92me (25 January 2008)

*Re: FAR - First Australian Resources*



stu_lee44 said:


> 24 Jan 2008 18:19   Change of Director`s Interest Notice
> Warwick Robert Grigor,one of the directors,sold 1m@11c
> on Jan 22.Dissapointed!



Could be a forced sale due to a margin call; even company directors can't escape those. It's not like he sold out at the top.


----------



## YOUNG_TRADER (25 January 2008)

*Re: FAR - First Australian Resources*

Hey rub,

Yeah agree, very strange that he sold at or near the lows,

Whatever the reason it doesn't inspire confidence


----------



## doctorj (25 January 2008)

*Re: FAR - First Australian Resources*

I'd be very happy to be proven wrong, but my impression is that Grigor has always been a bit of a tag-along.  I'm sure he's very good at what ever it is he does, but I have my doubt that he does much for FAR.

Given he sold on a market driven low despite a lot of recent news flow, I'm guessing he was funding a margin call or something like that.

In short, I wouldn't worry - Grigor doesn't mean much to FAR.  Most of the shareholder-value stuff is a product of Evans and Cavness.


----------



## happytown (25 January 2008)

*Re: FAR - First Australian Resources*

far ann out, update on senegal, grigor isn't exactly your run of the mill director but i note he still has approx 9-10 mil more shares

cheers


----------



## doctorj (25 January 2008)

*Re: FAR - First Australian Resources*

Hopefully FAR release their NAPE materials for us to look at.  The announcement looks promising but is very light on information.  Disappointing they haven't yet got an estimate of the reserve potential or a timeframe for it - no idea what 'fast track' means.

I'll have to sit down and examine it further before I pass judgement though.


----------



## jdhd (25 January 2008)

*Re: FAR - First Australian Resources*

Someone over on HC contacted Hartleys and they are of the understanding that the reserve estimates will be done prior to NAPE.  May be correct - may not be.  In any case there will certainly be some interesting news coming out of NAPE.  

Part of the Senegal Summary - "Excellent fiscal terms by world standards" - sounds good to me.

jd


----------



## YOUNG_TRADER (25 January 2008)

*Re: FAR - First Australian Resources*



doctorj said:


> Hopefully FAR release their NAPE materials for us to look at.  The announcement looks promising but is very light on information.  Disappointing they haven't yet got an estimate of the reserve potential or a timeframe for it - no idea what 'fast track' means.
> 
> I'll have to sit down and examine it further before I pass judgement though.




I'm the same as you Doc,

I was expecting drill targets along with resevoir/target size broken up into P10 P50 P90 along with recoverable estimates etc etc

Guess we'll have to wait a bit more for that stuff


----------



## doctorj (26 January 2008)

*Re: FAR - First Australian Resources*



YOUNG_TRADER said:


> I was expecting drill targets along with resevoir/target size broken up into P10 P50 P90 along with recoverable estimates etc etc



Maybe not.  Hartleys and FAR have a very close relationship - their new report (2nd report in a couple of days) has a few interesting snippets.

Report available: http://www.far.com.au/files/research/Hartleys research_25 Jan_Senegal.pdf



> FAR’s main targeted play in offshore Senegal was originally Santonian age fans. Three of these structures have subsequently been identified by the recent 3D seismic with potential closures in the order of 30km². *Each of these fans is prognosed to contain up to 750mmbbls of oil in-place*. In addition to this, adifferent play, known as a buried hill, has been indicated by the seismic. *The prospect in this play dwarfs the potential in the fans* originally targeted with an  estimated structural closure of 178km². *This is a step change in expectations for the potential of the acreage from over a billion barrels of oil in-place to over a billion barrels of oil recoverable*.​




Also, followers of FAR should get ahold of Thursday's Sky News Business Report (I think they podcast it).  In it they interviewed Petsec's MD Terry Fern who talks quite a bit about Beibu and explains the path to an investment decision for the project.  They've just about gotten reserves approval from the Chinese authorities and they expect to lodge a development plan in about a month.  From there it'll be a month or so an investment decision.

He also says that currently Beibu has about 15 years of reserves with "plenty of upside".​


----------



## Real1ty (28 January 2008)

*Re: FAR - First Australian Resources*

I was lucky enough to have bought into FAR on Friday @.11 shortly before the survey was released.

I was also disappointed in the lack of detail and also any kind of follow up.

They need to look at marketing themselves better, although my guess would be that they are relying on NAPE for their marketing.

I emailed them Saturday and asked them other than NAPE, what sort of marketing campaign do they lined up for the following months.

I also said that i assumed there would be a far more detailed presentation of the survey for presentation at NAPE and would this be available for release to the ASX prior to NAPE.

I asked the question to them of why they didn't take the opportunity to market themselves further on the back of a positive release, albeit a brief one and will they be taking that opportunity this week.

There are mediums like Boardroom Radio, Corporate File or even a media release, that are price sensitive and will get the attention of investors.

If you guys are interested i will post the reply i get, if i get one.

I think the survey was positive, just short on detail and we aren't really much the wiser now but i would suggest the NAPE presentation will be the one that provides the details we are all hoping will be the company maker.

Cheers


----------



## doctorj (28 January 2008)

*Re: FAR - First Australian Resources*



Real1ty said:


> I emailed them Saturday and asked them other than NAPE, what sort of marketing campaign do they lined up for the following months.



I'd be interested in hearing what you get back.  Michael has been at the helm of FAR for something like 2 decades now and is probably well stuck in his ways and Colin is a first time company secretary and only moved down under a few years ago, so there's a chance neither are across ideas like Boardroom Radio etc.


----------



## doctorj (28 January 2008)

*Re: FAR - First Australian Resources*

http://www.napeexpo.com/nap08/ec/forms/attendee/index.aspx?content=vbooth&id=672

FAR's booth @ NAPE.


----------



## Real1ty (29 January 2008)

*Re: FAR - First Australian Resources*



doctorj said:


> I'd be interested in hearing what you get back.  Michael has been at the helm of FAR for something like 2 decades now and is probably well stuck in his ways and Colin is a first time company secretary and only moved down under a few years ago, so there's a chance neither are across ideas like Boardroom Radio etc.




Hey Doc.

I got a reply back yesterday and of course it comes with the usual disclaimer about not distributing it, so i will give you the gist of it.

They didn't really address my questions directly, but gave some feedback.

The seismic for NAPE is very detailed and intended for oil majors.
It is also preliminary and they are still performing AVO analysis to assist with prospect definition.

I guess that rules out any chance of the info being available prior to NAPE, although they did say that once it is done, they will be able to link to the type of mediums i mentioned.

They say they are getting good coverage across the main media platforms and their Senegal program has seen uptake levels of institutional investment reach 30 percent of their register that is approaching 4000 holders.

I don't really agree with the good coverage, but it should improve markedly now.

At the World Junior oil conference in UK in December the Chairman of the IFC identified FAR to the 350 attendees as the company that has produced the most innovative form of advertising he has seen. This is the “searching for elephants” pic which has been picked up by most of the Oil and gas mags.

All in all i get the feeling they were just fobbing me off but time will tell.

The email was from info@far, so i have no idea who it was that replied.


----------



## doctorj (29 January 2008)

*Re: FAR - First Australian Resources*

The first of the China wells was a duster - not sure what's taken FAR so long to announce it.  Their other Aussie partners announced it about an hour ago.


----------



## YOUNG_TRADER (29 January 2008)

*Re: FAR - First Australian Resources*



doctorj said:


> The first of the China wells was a duster - not sure what's taken FAR so long to announce it.  Their other Aussie partners announced it about an hour ago.




Well it took em 2 days to update re SGT well after AMU released their ann, so I guess a few hours late is not as bad 

We need a comprehensive update/report on what we're looking at for Senegal


----------



## doctorj (29 January 2008)

*Re: FAR - First Australian Resources*



YOUNG_TRADER said:


> We need a comprehensive update/report on what we're looking at for Senegal



If you're a client of Hartley's, it's best to call them to discuss their research report.  FAR (well atleast ME) doesn't have much time for the average retail investor - that's from the horse's mouth.


----------



## debono (29 January 2008)

*Re: FAR - First Australian Resources*

Really Doc

That surprizes me.

I have had lots of emails from Michael returned generally with in a day or so.
He doesn't give too much away but that is understandable. I usually get a direct answer to any questions.
He probably knows that the average retail investor is mostly a short term punter looking for a fast trade. I think Fat Prophets was recommending 1/2 cent movement trades not that long ago.

Anyway...the main thing is 2008 looks like being a watershed year.

Whatever happens though re Senegal drill targets...ultimately it won't mean much until it pumps to the surface.

I don't get warm and fuzzy feelings about SGT either so there may be buying opportunities for a short while yet.


----------



## mick2006 (30 January 2008)

*Re: FAR - First Australian Resources*

With the NAPE oil conference kicking off next week, it is likely to kick off an extrememly exciting time for FAR and its shareholders.

Armed with a warchest of 3D seismic data FAR will be one of the real movers and shakers at this years conference, it is very rare for a company of FAR's size to be able to hold such attention on the world stage, but as has been revealed in the recent 3D seismic data from Senegal, FAR and its partners are likely to be sitting on targets of over 3 billion barrels of oil in place (OIP) or over 1 billion barrels of recoverable oil (see recent Hartley's research to confirm target sizes)

http://www.far.com.au/files/research/Hartleys research_25 Jan_Senegal.pdf

In terms of the size of targets the HUNT/FAR is likely to be one of largest if not the largest available for farm in at this year conference, putting HUNT/FAR in a very strong bargaining position.

It is also important to remember not only will the world's oil major's be attending but all the top oil/gas analysts will also be there, so expect to see some institutional action in FAR shareprice as the world starts to come to grips with the potential of FAR going forward.

Below is a grab from a recent article highlighting the value of FAR's 30% stake in Senegal

Unprecedented Interest in West Africa

With the major oil companies searching the globe for areas with potential for huge oil fields, under explored West Africa has captured their attention. West Africa continues to be viewed by the industry as one of the few regions outside the Middle East capable of hosting big enough hydrocarbon reservoirs to attract the major oil companies. As illustrated in Figure 1, there are a number of majors that surround FAR�s acreage including Woodside Petroleum Limited, Dana Petroleum Plc, Tullow Plc and Edison International. FAR is the only junior ASX listed company along the Mauritania-Senegal-Guinea Bissau offshore trend.

Recent activity in West Africa by some of the majors include:

* Edison completed a 1,500km² 3D seismic survey in the Rufisque Deep Offshore block to the north.
* Kuwait Foreign Exploration Co recently purchased BG Group PLC�s interests in Mauritania for $128 million.
* A recent auction of acreage in the Congo Basin, offshore Angola, for three deepwater exploration tracts saw international oil companies bid in excess of US$3.1b in signature bonuses alone. This amount is reportedly the highest ever offered for exploration anywhere in the world.
* Gaz de France has recently agreed to study the feasibility of an LNG project based on deepwater gas discoveries in nearby Mauritania.


It's incredible to imagine a company the size of FAR playing in the same arena as the worlds major's such as Shell,CNOOC,Exxon Mobil,BP and the like, but that is exactly what they have on their hands in regards Senegal a world class prospect.

Check out page 14 of FAR's Upstream Energy presentation to get an idea of the location and quality of their prospects.

http://www.far.com.au/files/asxannounce/Elodge ID458580 23May07 - Upstream Energy 2007.pdf

Next week is a huge step for FAR and as speculation mounts as to who they manage to attract to farmin to the Senegal acreage, expect to see some substantial shareprice upside.


----------



## Trader Paul (5 February 2008)

*Re: FAR - First Australian Resources*



Trader Paul said:


> Posted 03012008:
> 
> Hi folks,
> 
> ...






Hi folks,


 FAR news comes in, right on time ... and FAR has some more positive
cycles to come, over the next few weeks or so .....  

Posted 03012008:

         05022008 ... more news expected ... start of a new upleg???

    08-11022008 ... 2  positive cycles to lift FAR, again.

    04-07032008 ... 2 aspects to bring positive news and a .22 high, here ???

         10032008 ... negative spotlight on FAR


have a great day

 paul



=====


----------



## STRAT (5 February 2008)

*Re: FAR - First Australian Resources*



Trader Paul said:


> Hi folks,
> 
> 
> and a .22 high, here ???
> ...



Hi Yogi,

Are you predicting a price here?
You have been on the money so far and certainly proved your point with MEO on the other site.

I look forward to seeing how this plays out.


----------



## Purd2 (9 February 2008)

*Re: FAR - First Australian Resources*

http://energy.ihs.com/News/WW-News/n...ts-Senegal.htm

Preliminary interpretation of the 2,086 sq km 3D seismic data acquired by Hunt in March 2007 in the Sangomar Shallow and Sangomar Deep blocks has highlighted multiple plays including a giant Buried Hills (Albian) target. Mapped are multiple Santonian age fan systems with stacked amplitude anomalies and a very large Albian to Neocomian shelf edge closure. The Albian/Aptian section was previously believed to be made of clastic rocks, but seismic suggests it is a carbonate shelf with potential reef build-up. The company has plans for drilling on both blocks in 2008. Two drillable prospects have been identified from previous seismic data in the Sangomar Deep block, namely Palmarin and Djifere. The Palmarin Prospect lies about 110km from the coast in 2,150m of water, and the Djifere Prospect is located 90km from the coast in 1,250m of water. Current license interests are Hunt (60%), First Australian Resources (35%) and Petrosen (10%). *Prior to the 3D survey, significant upside potential within the acreage was thought to exceed 1 billion barrels recoverable.*

Bold lettering my doing! Cheers P


----------



## Georgeb (16 February 2008)

*Re: FAR - First Australian Resources*

Does anyone see any real upside on this stock? It is dissapointing to see it in the 12-13c range. The risk of failure is high but the return can be higher.


----------



## Mikii (8 March 2008)

*Re: FAR - First Australian Resources*

anyone still holding ???
results from china and senegal will be out soon...
iv been holding since....november.


----------



## YOUNG_TRADER (8 March 2008)

*Re: FAR - First Australian Resources*



Mikii said:


> anyone still holding ???
> results from china and senegal will be out soon...
> iv been holding since....november.




Still holding Mikii, waiting for Senegal targets, the 1Bl barrel targets should cause some interest and allow us to take some profits (hopefully)

China drilling has been disapointing so far


----------



## wildmanchris (13 March 2008)

*Re: FAR - First Australian Resources*

Still holding as well - getting a bit bored of it though.  Its the only stock I hold and would like some Senagalese action.


----------



## Georgeb (14 March 2008)

*Re: FAR - First Australian Resources*

When are we expecting an announcement on Senegal?

I have been buying all the way down to 10c and I am confident in the long run this will increase in value. At the moment all the stocks are getting hammered.


----------



## Mikii (17 March 2008)

*Re: FAR - First Australian Resources*

yeah same here, i been buying little parcels each time it drops.
we should be expecting senegal by the end of march. hopefully it will look like BRM's announcement on 5th march...


----------



## Trader Paul (2 April 2008)

*Re: FAR - First Australian Resources*



Trader Paul said:


> Posted 08012008:
> 
> Hi folks,
> 
> ...






Hi folks,

FAR ..... trading to the plan so far ... looking for a low over the next
couple of trading sessions, ahead of some positive time cycles, in 
the first half of this month ... see cycles detailed in post, above ... 

have a great day

  paul

P.S. ..... holding FAR


----------



## YOUNG_TRADER (2 April 2008)

*Re: FAR - First Australian Resources*

Hi Paul, 

Its very interesting, your time cycle has FAR having significant positive news around the 11th-14th of this month, I would suspect that coincidentally coincides with the release of Senegal drilling targets,

Unfortunatley the game in oilers has changed due to mkt conditions and lack of cash, as such I don't think these high risk elephant prospects will be as easy to farm out as they once were

I was also a bit surprised (though not really) to see Grigor retire, its not like he did much for the company anyway


----------



## Trader Paul (2 April 2008)

*Re: FAR - First Australian Resources*



Hi YT,

FAR ..... next week ... should see this one lifting off its recent lows ... 

have a great day

  paul



=====


----------



## wildmanchris (2 April 2008)

*Re: FAR - First Australian Resources*

I really hope you're right on this one Paul - im holding as well, but a company making promises re info dates and not delivering on time really really annoys me.

I should have gotten used to this by now - and I understand there are challenges but still 

Edit - hitting 9 is a low for recent times - from what my charting software tells me the last time it went this low was 2005.


----------



## bhutos (3 April 2008)

*Re: FAR - First Australian Resources*



wildmanchris said:


> Edit - hitting 9 is a low for recent times - from what my charting software tells me the last time it went this low was 2005.




Aye, I took a small position in it today. I've been looking at it for months and am glad I was investing elsewhere. 8.8-9c was a bit too good to pass up even though I probably should have accumulated more in something else.


----------



## wildmanchris (7 April 2008)

*Re: FAR - First Australian Resources*

Annoucement re Senegal proving they are actually doing something with the results/farmout.

Up 10% today which is good as it was starting to test my patience and belief.


----------



## YOUNG_TRADER (7 April 2008)

*Re: FAR - First Australian Resources*

what the *40M barrels to over 3Billion *barrels of oil target?

That has to be the biggest P10 to P90 range I have ever seen, thats just nuts,

its almost on a 1 - 100 range ie 30M - 3Billion, crazy

Anyway this is what we've been waiting for, now lets see if any of the majors step up to the plate


----------



## wildmanchris (8 April 2008)

*Re: FAR - First Australian Resources*



YOUNG_TRADER said:


> what the *40M barrels to over 3Billion *barrels of oil target?
> 
> That has to be the biggest P10 to P90 range I have ever seen, thats just nuts,
> 
> ...





Is a bit crazy YT - but any news is better than bad news, esspecially when we have been hanging out for so long.


----------



## Georgeb (2 May 2008)

*Re: FAR - First Australian Resources*

YT, do you think this stock has value at these prices and would you consider buying into it?

I personally think it has upside value as long as they can engage a partner for senegal...


----------



## mick2006 (19 May 2008)

*Re: FAR - First Australian Resources*

you got to love a company that does a bit of self promotion, anyone that has been keeping an eye on FAR already knew the potential of Senegal, funny that all it took was a simple media release.

can you imagine what will happen once they farm out the prospect and get closer to drilling.


----------



## YOUNG_TRADER (19 May 2008)

*Re: FAR - First Australian Resources*



YOUNG_TRADER said:


> Still holding Mikii, waiting for Senegal targets, *the 1Bl barrel targets should cause some interest and allow us to take some profits *(hopefully)
> 
> China drilling has been disapointing so far




Well it took aboout 2 months but we got there didn't we guys, lol

I sold a fair few today so that I can free carry my remaining portion,

FAR is a great stock but until a major steps up to sort out the funding side of Senegal in current mkts I am weary


----------



## fodder-oz (19 May 2008)

*Re: FAR - First Australian Resources*

so where to now for FAR? Any predictions on price? Still behind a little from where i bought but this news looks very promising.


----------



## Red Dog (13 June 2008)

*Re: FAR - First Australian Resources*

This came up on Global Insite yesterday. Thought there would have been an announcement to the ASX. Hope it does not delay drilling in Senegal.

*XTO Buys Hunt Oil for US$4.19 bil. * 
XTO, a U.S. domestic independent with a focus on natural gas production, has announced its intention to purchase Hunt Oil for US$4.186 billion. The purchase is to be funded by a combination of 62% cash and 38% common stock, and is expected to close by September 2008. XTO's first-quarter production this year stood at 1.71 bcfe/d of natural gas, over 51,500 b/d of crude oil, and nearly 16,000 b/d of natural gas liquids (NGL).

Significance: XTO has waxed lyrical about the merger, with the company's president, Keith Hutton, describing it as "a super-charged bolt-on" for the company. Essentially, XTO will acquire gas- and oil-producing assets across the U.S. Gulf Coast region, Bakken Shale assets in North Dakota, and acreage in the North Sea. The company will add nearly 1 million net acres of producing and undeveloped leasehold to its books, in turn adding approximately 1.052 tcfe of natural gas reserves, 197 mmcf/d of natural gas production, 8,500 b/d of crude oil output, and 2,300 b/d of NGL. The company intends to keep with its long-held strategy of using technology and geological expertise to increase proven reserves, and subsequently investing to boost production.


----------



## doctorj (13 June 2008)

*Re: FAR - First Australian Resources*



Red Dog said:


> This came up on Global Insite yesterday. Thought there would have been an announcement to the ASX. Hope it does not delay drilling in Senegal.



This "Hunt" is completely different to the Hunt First Australian partners in Senegal.

No impact here.


----------



## fodder-oz (23 June 2008)

*Re: FAR - First Australian Resources*

any ideas out there why this stock is dropping? After there 1 billion oil find I thought this would have stayed higher, considering the potential for drilling this out at some point in time.


----------



## pan (10 July 2008)

*Re: FAR - First Australian Resources*

In a Trading Halt at the moment.

Pending an annoucement to the market regarding capital raising.

Definitely need some senegal news!


----------



## fodder-oz (11 July 2008)

*Re: FAR - First Australian Resources*

Announcement made, capital raising up to $4 mill, existing holders get to buy up to $5k at 8c each in a Share purchase program.

Funds used for their work programme over the coming monthes.

What do people think?


----------



## qeegbill (12 July 2008)

*Re: FAR - First Australian Resources*

The negatives are that there will be a share dilution and that the SP will probably retreat to the 8 cent level.  The upside is the upcoming drilling program has a lot of promise.  I hope that an offtake partner can be found for Senegal and the market will come to recognise the potential of this stock.

I am a holder of FAR

DYOR



fodder-oz said:


> Announcement made, capital raising up to $4 mill, existing holders get to buy up to $5k at 8c each in a Share purchase program.
> 
> Funds used for their work programme over the coming monthes.
> 
> What do people think?


----------



## fodder-oz (24 July 2008)

*Re: FAR - First Australian Resources*

An annoucement made today, SP up today which is good.


FAR PRODUCTION & REVENUES SET TO LEAP

SUMMARY
• A rig is presently on location and has commenced completion of the 5500’ Sand in
the #6 well Lake Long Well in South Louisiana (FAR >31%)
• The Operator estimates this zone is capable of producing around 1.5 million cubic
feet of gas per day, approximately $US500,000 per month
• Subject to testing, the well should commence sales from the 5500’ Sand next week
• In September a further well is to be drilled at Lake Long (FAR >31%). The S.L. 328
#28 ST well will test 5 sands between 6700’ and 8500’ that have produced elsewhere
in the field
• North East Waller, Texas Gulf Coast (FAR 34%) drilling programme likely to
commence in August
S.L. 328 #6 well, Lake Long, South Louisiana (FAR 31.375%) - Rig on location
A rig is presently on location and has commenced a completion of the 5500 Sand in the #6
well. The 5500 Sand has been perforated with gas recorded at surface. The well will now be
gravel packed prior to testing and then turned to existing sales facilities. Subject to testing the
well is expected to commence sales from the 5500’ Sand within a few days.
The Operator, Kriti Exploration Inc, estimates this zone to be capable of 1-2 million cubic
feet of gas per day (US$335,100-US$670,200 per month at $11.17 per thousand cubic feet
gas pricing). The total cost of the plug back and recompletion is estimated at US$210,000.
The #6 well was successfully drilled by Kriti and FAR in 1997 and has been progressively
produced from multiple pay zones lower in the wellbore.
S.L. 328 #28 ST well, Lake Long Field, South Louisiana (FAR 31.375% (14 Sand) and
1.375% (Shallow sands)
Plans are being advanced for the drilling of a further well at Lake Long. The S.L. 328 #28 ST
well is to be sidetracked out of the #28 original well bore and directionally drilled to test four
sands between 6700’ and 7500’ that have produced in down dip wells in the field and the
deeper 14 Sand at 8500’.
ASX Release 24 July 08 Page 2
Based on 3D seismic and subsurface data the upper target zones will be at the crest of the
structure. The deeper zone (14 Sand) will be directionally drilled to a total depth of 8,500
feet. This zone is interpreted to be productive by logs and sidewall cores in the nearby #6 well
which indicate that the reservoir has a gas cap with an oil rim. The productivity of the 14
Sand is also supported by an energy absorption anomaly and increased amplitude on the crest
of the structure.
The original #28 well has been shut in for a period of 2 years after recoverable reserves in that
well had been depleted. The old wellbore will now be used to re-enter and sidetrack over to
an adjacent underexploited block thereby saving on drilling costs.
ASX Release 24 July 08 Page 3
On a dry hole basis the total cost of the #28ST well is estimated to be US$1.8 million. There
is low risk of a dry hole due to the multiple objectives. Timing is scheduled for September
2008. The Operator estimates the 14 Sand to be capable of producing 1.5 million cubic feet of
gas and 50 barrels of condensate per day.
All working interests at Lake Long are subject to State and other minor royalties. The Lake
Long Field is operated by Kriti Exploration Inc.


----------



## fodder-oz (25 September 2008)

*Re: FAR - First Australian Resources*

Finally share price has gone up.. 22% today.. Based on I would expect on the announcement today.

Any people out there holding FAR through these turbulent times? Hope this goes up not like a bouncing dog.


----------



## Real1ty (26 September 2008)

*Re: FAR - First Australian Resources*



fodder-oz said:


> Finally share price has gone up.. 22% today.. Based on I would expect on the announcement today.
> 
> Any people out there holding FAR through these turbulent times? Hope this goes up not like a bouncing dog.




Yes, i'm a long term holder and have a price of .11 so am sitting on a loss, but i didn't invest in the SPP as i thought we would go a lot lower so apart from dilution, i haven't sunk anymore into them.

I'm quite happy to hold and am only in this stock for 1 reason, Senegal.

I think we will head back to around .06 and i might top up with some more.

Patience needed.


----------



## fodder-oz (3 November 2008)

*Re: FAR - First Australian Resources*

Finally some upward movement of this stock up to 3.1c a 47% jump today so far. Quarterly report released late last week. Lets hope farming out starts soon and more oil found!


FAR Ltd ASX Qtr Sept 08 Page 2
•
farm in offers have been obtained from large, global oil and gas companies with access to rigs and proven capacity to operate deepwater wells;
•
the joint venture has met and exceeded all their obligations under the first renewal period and have spent US$17 million being twice the minimum amount specified under the Contract;
•
in doing so, the JV has acquired one of the largest 3D surveys off the northwest coast of Africa covering an area exceeding 2000 square kilometers resulting in a high quality data set that has been processed into a world class seismic volume;
•
the work has been accomplished as quickly as possible with due care and attention to detail and resulted in offers being generated.
FAR is seeking to be free carried through the drilling of an exploratory well.


----------



## fodder-oz (25 November 2008)

*Re: FAR - First Australian Resources*

Good jump today for FAR after announcement up 90% to 4.2c. 

Just wishing I bought some more when they were 2c. Oh well I am in for the long run with Senegal anyways. 

May interest those traders out there


----------



## Trader Paul (23 January 2009)

*Re: FAR - First Australian Resources*



Hi folks,

FAR ..... a good announcement today, as FAR increases it's interest to 90%
in its Senegal play ..... no doubt, that will be reduced as negotiations
continue with prospective farm-in partners, with the aim of maintaining FAR
in a free-carried position, in the months ahead.

Expecting some very significant news from the FAR camp in early April 2009,
as several positive time cycles come into play, in the period 02-09042009.

Also shooting for 13.5, then a 17 cent target, by the end of March 2010,
with a big negative time cycle due, soon after.

Looking at the longer-term FAR chart, attached below, we can clearly appreciate
the right-hand bias on the price movement since June 2003, with recent lows
making a huge double bottom ..... 







More later.

have a great day

paul

P.S. ..... holding FAR.



=====


----------



## Purd2 (8 February 2009)

*Re: FAR - First Australian Resources*



fodder-oz said:


> Finally some upward movement of this stock up to 3.1c a 47% jump today so far. Quarterly report released late last week. Lets hope farming out starts soon and more oil found!
> 
> 
> FAR Ltd ASX Qtr Sept 08 Page 2
> ...





It is going to be very interesting to see who the new JV partner will be. Can you believe FAR's luck? This could end up a fairy tale in the current nasty financial environment! There are going to be some very wealthy people made from this coy IF they hit what is expected to be found offshore Senegal.
 I would advise anyone who wants a "punt" for a few grand to plonk on FAR.
 BUT do your own research,       of course!!!!!!!!!!!!!!!   P


----------



## pan (9 February 2009)

*Re: FAR - First Australian Resources*

The price has increased 30% in the last few days, volume is also increasing.

would be good to get a chartists view?

thanks


----------



## Trader Paul (15 March 2009)

*Re: FAR - First Australian Resources*



Trader Paul said:


> Hi folks,
> 
> FAR ..... a good announcement today, as FAR increases it's interest to 90%
> in its Senegal play ..... no doubt, that will be reduced as negotiations
> ...






Hi folks,

FAR ..... expecting some significant news out of this camp,
in the first 2 weeks of April 2009 ..... 

  03042009 ... 2 significant and positive time cycles
               expected to bring positive news.

  09042009 ... a positive spotlight on FAR will be
               tempered by a negative time cycle, so 
               we may see some volatile trading.

  20042009 ... minor news expected here.

  11052009 ... minor cycle here

  18052009 ... minor and positive cycle expected.

  25052009 ... positive cycle expected ... finances ???

have a great day

  paul



=====


----------



## Trader Paul (20 March 2009)

*Re: FAR - First Australian Resources*



Trader Paul said:


> Hi folks,
> 
> FAR ..... expecting some significant news out of this camp,
> in the first 2 weeks of April 2009 .....
> ...








Hi folks,

FAR ..... ticking up nicely now ..... it looks like the bucket may have sprung
a leak already, ahead of some positive time cycles, due in early-April 2009 .....

... see post above for more details on the relevant cycles ..... 

have a great weekend

paul



=====


----------



## Trade wind (25 March 2009)

*Re: FAR - First Australian Resources*

Woo hoo, Shell onboard for a farm-in deal on FAR's offshore Senegal prospect. That April news has come early Trader Paul. Been holding these shares, like a lot of others, because of Senegal, the biggest thing this junior has ever seen. Still some ways to go before drilling, but with a seismic survey under their belt to flog this project, Shell is obviously impressed. Got to hand it to FAR management, they are persistent. Other lesser beings may have sold off the rights at bargain rates in the downtown.

Interesting to see what happens Friday when they come out of the trading halt with and announce their capital raising.


----------



## pan (25 March 2009)

*Re: FAR - First Australian Resources*



Trade wind said:


> Woo hoo, Shell onboard for a farm-in deal on FAR's offshore Senegal prospect. That April news has come early Trader Paul. Been holding these shares, like a lot of others, because of Senegal, the biggest thing this junior has ever seen. Still some ways to go before drilling, but with a seismic survey under their belt to flog this project, Shell is obviously impressed. Got to hand it to FAR management, they are persistent. Other lesser beings may have sold off the rights at bargain rates in the downtown.
> 
> Interesting to see what happens Friday when they come out of the trading halt with and announce their capital raising.




I don't like the fact they are bringing the capital raising out when they have a free carry option on the well?


----------



## Trader Paul (25 March 2009)

*Re: FAR - First Australian Resources*



Trader Paul said:


> Hi folks,
> 
> FAR ..... expecting some significant news out of this camp,
> in the first 2 weeks of April 2009 .....
> ...






First Australian ..... FAR is looking good from here ..... 

have a great day

  paul



=====


----------



## sw3 (2 May 2009)

*FAR  - First Australia Resources*

Long time reader, first time poster.

I've done a search but had no joy. Does anyone have any thoughts about FAR?


----------



## sw3 (2 May 2009)

*Re: FAR - First Australian Resources*

Well I guess there's my answer! It will be interesting to see how this performs in the next  near future. Will be contemplating a buy.


----------



## fodder-oz (8 May 2009)

*Re: FAR - First Australian Resources*

FAR is looking better all the time with another 11% jump today to bring share price to 8cents. Lets hope news with Shell works out well as I can see this being a very very good stock if this works out.


----------



## happytown (13 May 2009)

*Re: FAR - First Australian Resources*

ann out this morning

the shell-funded off-shore data acquisition phase has started and is expected to take 2 weeks, thence interpretation etc of results to determine whether or not shell will exercise an option to 70% interest in the licence area and well development etc

sp up slightly on mediocre volume

cheers


----------



## sw3 (30 May 2009)

*Re: FAR - First Australian Resources*

So the two weeks is up and I'm wondering how it went...? I know there's data to interpret etc. Anyone with any idea what's going on?


----------



## sagitar (26 June 2009)

*Re: FAR - First Australian Resources*

Hi all,
Anyone watching this one? Thought I'd post a chart of FAR. It has been trading in a solid rising channel since Oct last year. They own substantial parcels off the coast of Senegal, with the potential of over a billion barrels of recoverable oil. A JV deal with Shell will see a substantial re-rating.  I bought a huge package today based on possible avenues this company may venture in near future. Good-sized breakout today but this could be a drop in the bucket compared with the bigger picture potential. Next resistance appears to be around 10c in the short term. If that breaks then hold onto your horses...LOL.  Happy trading.


----------



## JnrTrader (30 June 2009)

*Re: FAR - First Australian Resources*



sagitar said:


> Hi all,
> Anyone watching this one? Thought I'd post a chart of FAR. It has been trading in a solid rising channel since Oct last year. They own substantial parcels off the coast of Senegal, with the potential of over a billion barrels of recoverable oil. A JV deal with Shell will see a substantial re-rating.  I bought a huge package today based on possible avenues this company may venture in near future. Good-sized breakout today but this could be a drop in the bucket compared with the bigger picture potential. Next resistance appears to be around 10c in the short term. If that breaks then hold onto your horses...LOL.  Happy trading.




well sagitar, their 10c target was reached, they got to 10.5c before coming back to 8.5, anyone keen to speculate on a huge increase in volume and an early 2c rise


----------



## sagitar (30 June 2009)

*Re: FAR - First Australian Resources*

Hi JnrTrader, FAR certainly reached its target although IMO I think we'll see some retracing of the share price before speculation (or a positive announcement) drives it up again.  Shell have 60 days left in which to decide on whether to proceed to the drilling stage, but that of course will depend upon completion of the CSEM analysis and interpretation of results.  If the predicted oil reserves are there and are recoverable I think Shell will proceed, although a decision one way or other may not be for awhile yet (IMHO). Let's see.


----------



## doctorj (30 June 2009)

*Re: FAR - First Australian Resources*

Based on the timelines in the Shell/FAR agreement, Shell have until, approximately, the end of August to exercise their option.  Obviously I don't know anything about the internal approval process for this sort of deal in Shell (board, exec committee, individual), but I'm strongly of the opinion that it is more likely to happen in July than August and certainly quite unlikely in the second half of August.  August summer holidays are a religion here and people like to get things done and dusted before then.


----------



## pops11 (1 July 2009)

*Re: FAR - First Australian Resources*

Holders like mid July to late for an ANN due to holidays etc happening over UK way but hey thats just quess work by all of us, good luck to holders.


----------



## Georgeb (18 July 2009)

*Re: FAR - First Australian Resources*

It will be interesting to see if Shell take up the offer..I suspect we will know in the next few weeks..


----------



## pops11 (19 July 2009)

*Re: FAR - First Australian Resources*

I bought in on Friday not a huge amount but decided with all the good news floating around that it may well be worth the gamble, i believe if Shell dont then someone else will, there was a good article in the AFR about USA looking to Africa for more oil, Senegal is looking like a big find and has got a good Governing body so should be no issues there but im sure others will have options and points to tell.


----------



## Annwn (19 July 2009)

*Re: FAR - First Australian Resources*

Update on chart

Broken upwards from Decending triangle,
not a convincing pattern with the close in the lowere half
of the price range for the last 5 days

Cheers


----------



## fodder-oz (29 July 2009)

*Re: FAR - First Australian Resources*

Good day on Monday for Far up 22% to 11.5cents. Retraced 0.5 cent on Tuesday, I guess profit takers selling.

A good quarterly income statement I think was the reason, plus all us holder are hanging on and preying that Shell takes the option to farm out senegal. From Hartleys I think they quote it's 50% chance but they are guessing I'd say.

Exciting times for this minnow stock, has seen stock price triple and more since march. I only wish I bought more at such low prices but was holding a loss. Oh well no one can predicy the future.

Anyone else have any news on the Shell deal, other then the August 30 deadline?

Whats peoples thoughts if this goes through on potential upside? 20 cents or more lets hope


----------



## fodder-oz (30 July 2009)

*Re: FAR - First Australian Resources*

Another good day so for FAR up 18% or 2c to 13c. Good thing volumes is increasing quite nicely and there are more buyers then sellers. This could become very interesting as anticipation grows about the Shell deal which is still 1 month away from the deadline.

So interested if anyone finds any further news regarding this agreement.

Cheers,
Ian


----------



## fodder-oz (30 July 2009)

*Re: FAR - First Australian Resources*

Up 22% today hit a yearly high of 14c at one point. Looks good hopefully from here, trend and volumes look fantastic. Lets hope the asx keeps going up for the ride into profits


----------



## sidious (30 July 2009)

*Re: FAR - First Australian Resources*

Well done for FAR holders. I remember trading this weeks ago but sold off at the high 90s. I was thinking of buying at 0.135 but felt like I'll be the buying at the top of the market. It's going to be quite a show when Shell decides not to take up the option.


----------



## fodder-oz (31 July 2009)

*Re: FAR - First Australian Resources*

whos optimistic that Shell will agree to the deal?

 I think its 50/50 but who really knows will benefit here. I am hoping it continues to go up, and hasn't hit its peak. That being said its tempting if goes higher to take some profit and keep some there if it goes well, therefore reducing risk and upside benefits. I guess i'll use the trend on what i decide to do.


----------



## doctorj (31 July 2009)

*Re: FAR - First Australian Resources*

I don't know what the probability of Shell exercising is, but you can start to mess about with Risk/Reward.  I think, realistic upside on a yes is about 25cps (based on historic S/R) and downside, probably 5cps.  R/R=1.4


----------



## pops11 (31 July 2009)

*Re: FAR - First Australian Resources*

I read 2 weeks back before i bought into FAR and in the AFR i think may have been The Australian but sentiment was 50% to 35% Shell is more likely to say yes than no.

Looking good right now but hey as always DYOR.


----------



## pan (31 July 2009)

*Re: FAR - First Australian Resources*

hopefully it closes above 15 cents. Been holding for a long time. Just want to see some success for this company


----------



## fodder-oz (31 July 2009)

*Re: FAR - First Australian Resources*

Reached 15c today but closed back at its close for previous day of 13.5c. Volume and more buyers then sellers looks good atm for us holders.


----------



## fodder-oz (31 July 2009)

*Re: FAR - First Australian Resources*

Just found this info from Hartleys who seem to be fairly good with advice so far.

http://www.hotcopper.com.au/post_single50.asp?fid=1&tid=936382&msgid=5214792

We believe that there is a better than 50/50 chance that the CSEM analysis will lead to a decision by Shell to drill at least one well, which could see FAR’s share price double or triple.

Lets hope it keeps heading north..


----------



## fodder-oz (31 July 2009)

*Re: FAR - First Australian Resources*

its weird but there isnt alot of talk about this stock here, which has the potential to be fantastic if shell goes ahead.

 so for the enthusiasts who want alot more chatter hotcopper is the site to view.


----------



## pops11 (1 August 2009)

*Re: FAR - First Australian Resources*

Yes alot of chat on HC site about FAR but heaps of ramping on all stocks both up and down on that site, so DYOR as always.


----------



## fodder-oz (7 August 2009)

*Re: FAR - First Australian Resources*

Closed the week at 14c, some big buyers before close. Looks good for next week before announcment. If you want a good speculation this is one to look at.


----------



## pops11 (8 August 2009)

*Re: FAR - First Australian Resources*

fodder-oz

I got in @ 9C so happy with that and yes some huge buying went on yesterday before close of market this could be a sign for next week as you said, very good read on HotCopper main page at the top, a post by MrMarket he makes so interesting points and makes some very good sence, all FAR holders now and in the very near future should read it.


----------



## Smallprofits (12 August 2009)

*Re: FAR - First Australian Resources*

I have held FAR for 6 months now and loved the ride. 

I am conviniced that Shell will excerise their option and who knows where the share price will be from there on in... 

do you think Shell would then look to buy the entire project?

Either way I am holding on for the long term and hoping for somthing BIG. Purchased some more this week to add to my exposure. 

Go Shell / Go Far


----------



## Real1ty (12 August 2009)

*Re: FAR - First Australian Resources*



Smallprofits said:


> I am conviniced that Shell will excerise their option and who knows where the share price will be from there on in...




What is it that has convinced you that Shell will exercise their option?

[This part here is so that i can avoid another infraction from that stuuuuuuupid 100 character minimum. Is this enough rubbish typed to avoid the filter?]


----------



## Smallprofits (12 August 2009)

*Re: FAR - First Australian Resources*



pops11 said:


> fodder-oz
> 
> I got in @ 9C so happy with that and yes some huge buying went on yesterday before close of market this could be a sign for next week as you said, very good read on HotCopper main page at the top, a post by MrMarket he makes so interesting points and makes some very good sence, all FAR holders now and in the very near future should read it.






Thanks pops11

thats an interesting article, was hoping to find an analysis such as this. 

fingers crossed


----------



## Smallprofits (12 August 2009)

*Re: FAR - First Australian Resources*



Real1ty said:


> What is it that has convinced you that Shell will exercise their option?
> 
> [This part here is so that i can avoid another infraction from that stuuuuuuupid 100 character minimum. Is this enough rubbish typed to avoid the filter?]





Can you please explain what your text in bracket means? I can't understand your wording

To answer your question, information is generally leaked to the market - there has been no annoucement as to SHELL's position yet in 6 weeks the stock has increased 250% - based on no news released... 

Surely if this was pure speculation then buying would have been done at $0.05 2 months ago. 

Certainly their must be more to it? dont you think?

anyway, time will tell


----------



## fodder-oz (12 August 2009)

*Re: FAR - First Australian Resources*

I tend to think that a decision would have been made if the CSEM didn't show anything, there is no point delaying it until the last day. I'd speculate the finer details of the deal are being ironed out before an announcement. It's not long now until a decision is made. However I think a punt on FAR and shell could be very beneficial in the short/medium term if the deal goes through.

Do you our own research of course.


----------



## doctorj (12 August 2009)

*Re: FAR - First Australian Resources*



Smallprofits said:


> Certainly their must be more to it? dont you think?



Highly doubt it.  If the fact that Shell was a sure thing had found its way to the market then it'd be much higher than these levels.  $60mln for a company with Shell in the bag on a prospect like Senegal wouldn't happen, even in this market. 

All this is is simple speculation.


----------



## fodder-oz (18 August 2009)

*Re: FAR - First Australian Resources*

Still no decision although I hear that Shell had a meeting yesterday so you would think the results will be out hopefully before 28th of August which is when its due. Only wish we could predict whats going to happen. It's either going to make us holders jump for joy or be sad.

No leakage either and share price has retraced the last week or so while those nervous retreat. Time will tell, hopefully its good time waiting.


----------



## Real1ty (24 August 2009)

*Re: FAR - First Australian Resources*



> Shell Exploration Company B.V. (Shell) has advised First Australian Resources (FAR) of its
> decision not to exercise an Option in respect of Sangomar Offshore, Rufisque Offshore and
> Sangomar deep Offshore Blocks (“Licences”) in Senegal, West Africa.
> The decision by Shell follows the completion of a Shell funded CSEM Data Acquisition and
> ...




You would have to think the reaction on the market to this news today will be pretty savage and could see the sp at very low levels for an extended period of time.


----------



## wtang89 (24 August 2009)

*Re: FAR - First Australian Resources*

Big blow to those FAR traders that were banking on SHell's excercise...SP dropped over 60% on opening.


----------



## zebop (24 August 2009)

*Re: FAR - First Australian Resources*

Well tried in vain to get some kind of news before today but couldn't find it and got caught  Now the stock resides in a drawer waiting for the results and to see whether its an option for another company..darn it.

Zebo


----------



## fodder-oz (6 October 2009)

*Re: FAR - First Australian Resources*

upward movement for FAR today up 1.2c from open or 31% with 30mill volume, buyers now outweigh sellers 2:1, which is a dramatic turnaround.

 ASX speeding ticket reply provided by FAR they know nothing. Someone knows something, why the increase. 

Good for us holders who still hold the stock and didnt sell before Shell pulled the plug.

Good for the day traders I guess as well, maybe price will head north for a bit who knows.

Either way undervalued stock with nearly 20 mill cash in the bank and no debts at these levels. Especially if another JV partner comes in and Senegal extension from govt gets approved.

Of course DYOR.


----------



## fodder-oz (12 November 2009)

*Re: FAR - First Australian Resources*

Good news today with FAR, lease extension granted so they now have lease extended for another year.

Talks with potential JV partners ongoing. This is a stock with a potential 1billion barrels of oil in deepsea Senegal. Over 15Mill cash in the bank as well.

Good value at current share price atm.. Potential to retest 16c highs for the year if JV is signed.

Rise of 20% today after announcment.

DYOR, of course.


----------



## JnrTrader (13 November 2009)

*Re: FAR - First Australian Resources*

huge fan and current holder with FAR fodder-oz....i believe too that they are undervalued....with 20m cash, the hard part was getting that lease extension....risk has been substantially reduced and thats why we saw huge volume today...i suspect some institutional and/or corporate activity, watch for the next top 20 SH release.....the JV will come, i think before Christmas, and it will be essential that the primary term for a partner being awarded interest on these blocks will be a drilling campaign....holes will be drilled sooner rather than later, and if they do strike oil, and its of economic quality...watch this stock go through the roof....with potential of i billion barrels, all they need to do is make a few successful drill holes and this one will be 30cps.....if they are aggressive in drilling might not be that far away.....could it be another Hardman resources???   my initial calc show a potential 600 m barrels x far's 20% interest (after selling some share of the blocks off to partner/s) = 120mboe...x $10 profit per barrel...and disc by 10% over 10 year production period with 660m shares on issue is around 460m MC and 72cps....so this is where we are working towards imho....it will take time, but the opportunity is there...successful drilling and anywhere near that target will see SP rise significantly....and imagine if the 1billion barrel estimate was accurate.....well its hardman all over.......hopefully the JV news is closer than we all expect, theres nothing else in the way for FAR......they can now create their own destiny....DRILL DRILL DRILL


----------



## Trader Paul (5 December 2009)

*Re: FAR - First Australian Resources*



Hi folks, 

FAR ..... figuring on a strong finish on 11122009, 
with 2 positive time cycles late in the week,
to focus the spotlight on FAR ..... 

have a great weekend

   paul



=====


----------



## rusq (4 May 2010)

*Re: FAR - First Australian Resources*

I don't have all the expertise and experience that most of you guys do, but thought this one was worth a bump as they've been moving strongly.  I bought in at March and getting close to doubling my investment now.

Recently there was this video interview with the head honcho that has some good info in it.  http://www.abnnewswire.net/multimedia/en/62705/First-Australian-Resources

Anybody got any thoughts on the current state of the company?  I don't understand all the numbers generally, but I look at the charts, look at their announcements, look at how much interest from other investors there is and make my best guess on wether to jump in or not...   
Most of the time it works.


----------



## beatle (22 November 2010)

There is virtually no coverage of FAR on Aussie Stock Forums, which surprises me, especially having some potentially super-sized oil/gas projects! 

With the closing of the SPP on friday 19th November now behind the company, I can see the share price begin to recover from its recent trading low (still above the SPP price of 5.8 cents) and likely to rebound, with increasing anticipation regarding its oil projects in W Africa, with a possible renewal of its Senegal project (and its potential farm-out of a portion of that license) and also a planned drilling in its recently acquired 10% equity of the Profound W Africa license area, as well as the recent announcement of an initial substantial shareholder notice of the Bluegold Global Fund (UK based).


----------



## Trevoru (1 February 2011)

Been a while between post on FAR - surprising after such a great performance over the past few months on back of good announcements and hopefully much more to come IMO.  More smiles here - TU


----------



## Agentm (9 March 2011)

*FAR- Far limited*

this one has been around a while, i first saw a presentation a few years ago at the oil and gas conference, and again i saw them present last week at the oil and gas conference in sydney.

*"The most impressive presentations and stories  so far have come from FAR Ltd, Texon, Norwest and unlisted explorer,  Finder Exploration. The most worrying presentation came from Petsec,  whose story sounded like an obituary at times, while Linc Energy remains  a huge worry to StockAnalysis."*

imho Peter Strachan is spot on, maybe missed one or two others, but pretty much on the money 

i am impressed with the prospects they have offshore west africa

one target gets drilled in a few weeks i am told, and its a target that ophir has been getting onto. Kora.  that well starts drilling offshore in a matter of a month i believe

Focus on Central Atlantic Margin of West Africa

FAR (10% WI) is partnering Ophir Energy plc in landmark West African “Kora” well (potential 453 million bbl potential) in AGC Profond Block 

Farm‐in with Ophir gives FAR largest foothold offshore Senegal and Guinea Bissau region, West Africa (6.6m, 15%, 31 Jan 2012, face value 45 cents convert at 1:10 basis)

"Kora” well focuses attention on FAR’s world class offshore Senegal Project (3 blocks, FAR 100% WI)

FAR’s Senegal project ‐ multiple prospects range from FAR s around 200 million to greater than 1 billion bbl potential

AGC Profond Block is immediately adjacent to FAR’s Guinea Bissau blocks (FAR 21.43% WI) that includes 240 MMBOE STOOIP oil discovery, “Sinapa”


FAR Offshore West Africa Summary

AGC Profond Block (FAR earning 10% WI1)

Ophir as operator to drill the “Kora” well in April 2011

Well is targeting a prospect with mean prospective oil resources of 453million bbl (100% basis)

16 prospects on block mapped, total un‐risked resource potential estimate at approx 1.7 billion Bboe

Senegal (FAR 100%WI –subject to Ophir Option)

3 Blocks. 2,086sqkm 3D seismic has been acquired. Several fans and a giant buried hills play

Multiple prospects ranging from 200 million bbl to greater than 1 billion bbl potential

Ophir earning the right to acquire a 25% interest in Senegal licence areas1

FAR is looking for a partner in Senegal (up to 50% available)

Guinea Bissau (FAR 21.43%WI)

3 Blocks (5,832 sq km) with Svenska as Operator

Licenses include the “Sinapa” oil discovery (30m of water, P50 STOOIP of 240million bbl)

Several large prospects including Sardinha prospect with un‐risked P50 STOOIP of 219 million bbl

Completed a 1,600 sqkm 3D seismic acquisition program late 2010. Appraisal drilling 2011/12


----------



## geelongfan (9 March 2011)

*Re: FAR- Far limited*

if the senegal project proves successful the sky is the limit for this stock imo.. with a 100% WI it's all or nothing (I remember reading that they were trying to get a partner in the project to take 50% WI though)..

i agree in that it has plenty of upside with a number of other projects in the pipeline (smaller partnership ventures).. but being off the coast of west africa does not come without social unrest/political concerns etc.

i got in today off the pullbacks from yesterday. do you hold currently agentm?


----------



## Agentm (9 March 2011)

*Re: FAR- Far limited*

yeah, i am a holder and i noticed the asf forum had no thread on it, i figured with peter giving the presentation and the company a huge wrap the other day, that it deserved to be posted on the forum

i think if you research ophir it gives a massive breakdown of what kora is


http://ophir-energy.com/Default.asp...fault&master_id=129&parent_id=129&page_id=320

[SIZE=+0]In July  2010 Ophir signed a one well contract with A.P. Moller-Maersk A/S to use  the newly built (June 2010) ultra deepwater semi Maersk Deliverer.   This rig will be used in conjunction with other operators as part of a  north-west African sequence to drill the ultra deepwater prospect Kora  in the JDZ between Senegal and Guinea Bissau the AGC.

[/SIZE]
	

		
			
		

		
	






AGC (SÃ©nÃ©gal/GuinÃ©a Bissau Common Zone)                       










[SIZE=+0] [/SIZE][SIZE=+0]AGC  is the ‘Agence de Gestion et de CoopÃ©ration entre le SÃ©nÃ©gal et la  GuinÃ©e-Bissau’ which is a joint commission set up by the governments of  Guinea-Bissau and Senegal to administer the maritime zone between the  two countries. The AGC Profond block consists of the deepwater portions  of two blocks previously known as Cheval Marin and Croix du Sud. The  block covers an area of 9,838km² and is located in water depths ranging  from approximately 50 to 3,500m. [/SIZE]
[SIZE=+0] [/SIZE][SIZE=+0][SIZE=+0]Interest[/SIZE][/SIZE]
[SIZE=+0] [/SIZE][SIZE=+0]The  Group has an 83% beneficial interest and 82.955%paying interest in the  block during exploration with the state owned entity Entreprise AGC  holding a 12% beneficial interest and having a right to back-in for a  further 5% beneficial interest following a declaration of commerciality;  Rocksource AGC (Profond) AS  has earned a 5% interest by funding a Controlled Source  Electro-Magnetic (CSEM) programme and their promoted contribution to the  first well will allow them to increase this to 15%. A further 10% will  be available should they elect to make a further promoted contribution  to a second exploration well.[/SIZE]
[SIZE=+0] [/SIZE][SIZE=+0][SIZE=+0]Exploration and appraisal[/SIZE][/SIZE]
[SIZE=+0] [/SIZE][SIZE=+0]The  first renewal period commenced on 19 September 2009, lasts for two  years and carries a commitment of one exploration well to a minimum  depth of 1,500m. A second renewal of a further two years is possible  with a further commitment to drill another exploration well, also to a  minimum depth of 1,500m. [/SIZE]
[SIZE=+0] [/SIZE][SIZE=+0]In  late 2008, a CSEM survey was conducted. The results were encouraging  and have high graded a number of prospects. The Joint Venture has  decided to drill the Kora Prospect in the northern part of the AGC  Profond area. The semi-submersible rig Maersk Deliverer has been  contracted to drill the Kora prospect early in 2011. For further details  please refer to Maersk Deliverer Press Release.[/SIZE]
 Licence Details:
*Licence Name*
  AGC Profond
*Basin*
  MSGBC Basin
*Gross Area*
  9,838km²
*Water Depths*
  50 to 3,500m


*Licensees*
*Interest*   Ophir (Operator)
 83%   l'Entreprise AGC S.A. (Partner) (*Entreprise*)
 *12%   Rocksource AGC (Profond) AS (JV Party)
 **5%_*Entreprise have an option to increase their 12%. beneficial interest by a maximum of 5%.
**Rocksource  AGC (Profond) AS have the ability to increase their equity to a maximum  of 25% by partially funding the first two exploration wells on the  Block._




click on images for better resolution


----------



## Trader Paul (1 May 2011)

Hi folks,

FAR ... expecting a couple of positive time cycles very late this week, that
may result in a stronger close ..... expecting some psoitive news, around
06-09052011 ..... 

Updated FAR chart below, shows a double-bottom at 50% retracement of last
upleg, starting in October 2010 ... last week closed with a strong hammer,
supported by heavy volume, close to a 100% fill of time for last upleg, as well ... 

have a great week all

paul



=====


----------



## Agentm (16 June 2011)

Leading the tipping comp with this one

they may announce some news on a pending arrival of the maersk deliverer, and then the drill of the Kora target offshore west africa

noble farmed in last week, and ophir is raising more capital. rocksource keeps talking it up.

this one may run a little.


----------



## Agentm (29 June 2011)

28 June 2011
ASX ANNOUNCEMENT AND MEDIA RELEASE

OFFSHORE WEST AFRICA – KORA-1 DRILLING COMMENCES

FAR is pleased to announce that the semi-submersible rig Maersk Deliverer has commenced drilling the Kora-1 well in the AGC Profond PSC.

The PSC is administered by the “Agence de Gestion et de CoopÃ©ration entre le SÃ©nÃ©gal et la GuinÃ©e-Bissau” (“AGC”) which is the joint commission set up by the Governments of Senegal and Guinea-Bissau to administer the maritime zone between the two jurisdictions. The Kora prospect is located approximately 280km SSW of Dakar in 2,700m of water.

*The Kora-1 well is targeting a prospect having mean prospective oil resources of 448 million barrels *(100% basis, Rocksource estimate). The planned minimum Total Depth for the Kora well is 4,251mSS (approx. 1,600m below the mudline) although consideration will be given to drilling deeper based on the geology encountered.

Further information concerning the AGC Profond and the Kora Prospect may be found in FAR’s previous releases to the ASX.


----------



## Trevoru (27 July 2011)

Trading Halt - now the wait.  No news from partners.
GLTA
TU


----------



## Trevoru (27 July 2011)

Trevoru said:


> Trading Halt - now the wait.  No news from partners.
> GLTA
> TU




From Rocksource
Kora 
The Kora-1 well in offshore Senegal and Guinea Bissau  
was on XX July announced as unsuccessful. The Kora  
prospect had an EM anomaly interpreted by Rocksource  
to be associated with hydrocarbons with an  
approximate 50 per cent chance of success. The  
prospect was found dry and the strong EM anomaly is  
believed to have been caused by a combination of  
lithologies (rock types) which have combined to  
produce unusually high resistivity. Although these  
lithologies were not specifically predicted pre- 
drill, given the lack of well control in this  
frontier area it was accounted for in Rocksource's  
prospect risking. Rocksource recently farmed down  
half of its interest in AGC Profond receiving as an  
initial consideration, USD 28 million in promoted  
contribution towards past expenditure and the costs  
of the Kora-1 well


----------



## moXJO (27 July 2011)

Ouch that's going to hurt a few investors, and damn it there goes my top hat and eye monocle money. Far looking at .02 in this current market. Might be a trade on the Senegal extension coming good.


----------



## dardyboys (28 July 2011)

looks like 2011 is all but over for far until early next year


----------



## Dang (10 February 2012)

Hmm in a trading halt pending Senegal announcement...
Up .004 prior to halt, looks like someone knows something....

Covered the dive in ARU for me today


----------



## mr. jeff (22 February 2012)

*FAR - First Australian Resources Ltd.*

FAR is an ASX listed oil and gas exploration company focussed on offshore West and East Africa with current projects in Senegal, the AGC, Guinea Bissau and Kenya. The Company’s mission is to reward shareholder investment with continued growth and exploration success.

Have been watching since they popped up on the radar from ASI newsletter or similar....





Don't mistake my additons to the current chart, and apologies for it not showing the situation a bit more clearly - have a look at the yearly for a better idea.

That 4c level is important and may be pushed through in the near term if sentiment stays strong - perhaps a decent announcement will be added to the mix to help it...


----------



## doctorj (23 February 2012)

*Re: FAR - First Australian Resources Ltd.*



mr. jeff said:


> FAR is an ASX listed oil and gas exploration company focussed on offshore West and East Africa with current projects in Senegal, the AGC, Guinea Bissau and Kenya. The Company’s mission is to reward shareholder investment with continued growth and exploration success.



I'd love to be proven wrong, but I have my doubts about the strength of management at this company. They seem to have gotten themselves into some promising positions over the years, but have habitually failed to deliver. I'm actually slightly surprised that shareholders have persisted with Michael Evans for as long as they have given the track record and the fact that he's put so little of his own cash into the business, but taken so much out in the form of wages.

The volume is interesting, so it may go on a run and make some coin for traders, who knows. The challenge is creating real sustained value for shareholders, rather than just stumbling from one capital raising to the next...


----------



## Trembling Hand (23 February 2012)

*Re: FAR - First Australian Resources Ltd.*



doctorj said:


> The volume is interesting, so it may go on a run and make some coin for traders, who knows. The challenge is creating real sustained value for shareholders, rather than just stumbling from one capital raising to the next...



The last 3 times high volume has shown up its ended in being distribution, that is the next move has been down. So I wouldn't be cheering high volume here at major resistance.

Then again it may be 4 times lucky, and a very good breakout sign. One to watch the reaction from the volume action.


----------



## Gringotts Bank (23 February 2012)

Volume seems to be slowing pretty fast, after a rapid first 1/2 hour.  Sell side fuller than earlier but no momentum either, so I reckon it will stay about where it is now without strong reversal.

I managed a 41-43 trade.


----------



## Trembling Hand (23 February 2012)

Gringotts Bank said:


> I managed a 41-43 trade.




Is that a usual trade - profit target? 2 ticks! How do you cover cost and losses?


----------



## Gringotts Bank (23 February 2012)

Losses need to be taken quickly, for a similar number of ticks.  If that can be done, then it's just a matter of having a highish win rate.  Brokerage is $30.  Volume was high enough to support a decent sized trade.  So I made a good profit this time.  

But you already know all this.  My question to you is why are you asking questions about things you already know the answer to?


----------



## Trembling Hand (23 February 2012)

Gringotts Bank said:


> But you already know all this.  My question to you is why are you asking questions about things you already know the answer to?




Hoping you would say this was a scratch trade.


----------



## Gringotts Bank (23 February 2012)

So you're looking for traders for your hedge fund eh?

Forget me, I'm _nowhere near_ good enough.  Maybe I could work on a salary, haha.  I'd need 200K.

Maybe ask skc, skyquake or tech/a.


----------



## Trembling Hand (23 February 2012)

Gringotts Bank said:


> So your looking for traders for your hedge fund eh?
> 
> Forget me, I'm _nowhere near_ good enough.
> 
> Maybe ask skc, skyquake or tech/a.




Now now don't get titchy. Was just going to say in light of your shorter timeframe thread that you have jumped out of the frypan into the volcano!

Why not look at instrument that are far far far more suited to flipping?

Why make something hard? Seems to me that no matter how good of a brick layer you are when you’re doing it atop of Mt Everest in spite of any improvement or added efficiency sooner or later you will be dead!


----------



## mr. jeff (23 February 2012)

Picture book follow up.
Candles drawn on were today properly drawn on. 




Not often that happens.


----------



## BESBS Player (19 June 2012)

*FAR Limited*

Tried to find an existing thread for FAR but browser didn't identify one. If one already exists, happy for administration to 'paste' comment across.

Finished buying in today. I'm seeing this as a potential multi-bagger.
At this price, I can't see too much downside.

* 3D seismic happening: good results will give this company a significant boost
* AP should be drilling Alhamdulillah soon. This target overlaps FAR's Senegal block to some degree (around 25% I believe). The drill is planned for Q4 2012. Once a rig and drill date are confirmed, this should give FAR SP a no-cost 'positive externality' ride in a northward direction. The target is big and keeps things interesting until FAR's own African drilling.
* African drilling to come, hopefully within 12 months.
* Given what we have seen with PCL, this one could be a real sleeper.
* Historically, the FAR SP has been 200%+ when drilling larger targets in the past than current SP.
* Plenty of leverege at these prices.

I have purchased with a 12 month (50% CGT discount in mind). I'll be happy with anything over 200% profit but time will tell.

As always, DYOR.

Bought in at 3.9c ave.


----------



## Vader (20 June 2012)

Anyone know why their administration costs are insanely high... $1.2m per quarter for admin is going to burn through their impressive cash reserves pretty quick (not to mention the exploration costs)... already 2.15 billion shares on issue... these guys obviously know how to do a good capital raising.


----------



## BESBS Player (8 August 2012)

*Re: FAR Limited*



BESBS Player said:


> Finished buying in today. I'm seeing this as a potential multi-bagger.
> At this price, I can't see too much downside.
> 
> * 3D seismic happening: good results will give this company a significant boost
> ...




Slowly starting to build as expected as we head toward neighbour drilling to the FAR Senegal block...
Happy to date.


----------



## mr. jeff (9 August 2012)

*Re: FAR Limited*



BESBS Player said:


> Slowly starting to build as expected as we head toward neighbour drilling to the FAR Senegal block...
> Happy to date.






Will it hold and continue?! With the upcoming action, my guess it will with these oil prices. With a stutter from overseas perhaps it will revisit that 5c level then head back up (7c level the next to look for) ? PCL looks to be the lower risk option, but both looking attractive with great upside. Watching only, looking for an entry.


----------



## BESBS Player (17 August 2012)

Hi Jeff,

You might well be right. In the case of FAR, I'm in for the longer ride until they drill in Africa. I'll have another look when I have been in 12 months (CGT 50% discount) and closer to drill action.


Holding at 3.9c ave


----------



## BESBS Player (6 September 2012)

PCL in trading halt. Looks like all the trader bets have come onto FAR today.
Monday (assuming that this is when PCL make their announcement) should be interesting. While a success for PCL would have a nice positive impact for FAR, remember that the odds are always stacked against it. 

Holding at 3.9c


----------



## BESBS Player (10 September 2012)

Well, well, well. 

Early days in the drill but we have elevated gas levels, enough to call a Trading Halt. Re-Open today was most pleasing. Now things should get interesting...will the traders wait for further results or will some start to take a punt? Will a few take a profit? 

Looking forward to seeing how it pans out in this market but given today's buying, it could run a bit further tomorrow. Time will tell...

Holding at 3.9c ave :


----------



## BESBS Player (11 September 2012)

BESBS Player said:


> Well, well, well.
> 
> Looking forward to seeing how it pans out in this market but given today's buying, it could run a bit further tomorrow. Time will tell...




Up another .004c today to .053c. Would love some more gas (or oil if it must be!) in the deeper targets for PCL.

Holding FAR @ .039c ave :


----------



## BESBS Player (12 September 2012)

Oh well...no gas at the bottom.

Not surprised that SP went back to pre-spud run on this news.

In the longer term, the fact that there was gas in the shallow levels (enough to almost double the PCL SP in a day) suggests that there will be enough hope in surrounding prospects to support a pre-spud run for FAR when they finally get around to drilling in 2013.

Add to this, Ap should be drilling at the end of the year and this latest SP crash is a BOBN (Buy On Bad News) opportunity. Be aware, the SP might still drop to .036-7c but we should be within 10% of the potential platform. 

Remember this is just my opinion but I bought a few extra today and hope to add in the next few days if we stay sub-4c.

WARNING: DYOR as I am simply a mug-speculator calling it as I see it (and it might be totally wrong!)

Holding FAR @ .039c ave


----------



## urgalzmine (12 September 2012)

Hi Besbs , 

I am surprised you didn't sell out .05 ? Huge gain and the chances PCL found something substantial was so remote. I am still puzzled why FAR increased so high


----------



## BESBS Player (14 September 2012)

Hi Urgalzmine,

Good question. Usually I would have but I have my mind set on FAR drilling its own well and snagging a 200%+ return (with a possibility of a 50 CGT free discount). As this was really an externality impact from PCL, I guess I was happy to watch from the side line. While I was up 25% (at the 5c SP), it was a long way from my target here. In the case of FAR, I'm happy to see through my plan unless we suddenly get a 50%+ SP rise when AP drill around the end of the year. At that level, depending upon what else is around, I might move out. That said, FAR have a history of mid-teen SP when drilling decent targets. Given what happened with PCL and a hint of gas, I'll hold for the while.

Cheers,
BESBS


----------



## BESBS Player (14 October 2012)

Just treading water at this time. Should be interesting to see how the market receives news of AP drilling Alhamdulillah when finally announced. This target overlaps FAR's Senegal block to some degree (around 25% I believe). The drill is planned for Q4 2012 so once a rig and drill date are confirmed, this should give FAR SP a no-cost 'positive externality' ride in a northward direction. The target is big and keeps things interesting until FAR's own African drilling. Given the way PCL hasn't totally collapsed, I suspect there might be a nice 20-30% SP run from these levels (at 3.4c). Watching with interest. 

Been good buying lately.

Holding at 3.7c ave


----------



## mr. jeff (22 October 2012)

BESBS Player said:


> Just treading water at this time. Should be interesting to see how the market receives news of AP drilling Alhamdulillah when finally announced. This target overlaps FAR's Senegal block to some degree (around 25% I believe). The drill is planned for Q4 2012 so once a rig and drill date are confirmed, this should give FAR SP a no-cost 'positive externality' ride in a northward direction. The target is big and keeps things interesting until FAR's own African drilling. Given the way PCL hasn't totally collapsed, I suspect there might be a nice 20-30% SP run from these levels (at 3.4c). Watching with interest.
> 
> Been good buying lately.
> 
> Holding at 3.7c ave




BESBS thanks for the faithful updates. I have entered in a small way to keep an eye on things. It seems that there may be a low risk entry on FAR at the moment. A lift from local work may be possible as you say. 




The reason I entered was that today was particularly weak and I thought getting in on that would be a good opportunity when it is so near to its mid term support level with the volume all but dried up. Their acreage remains promising and although PCL did not succeed on their first hole, it was not strictly a duster either. I think there is more to this story yet and hope to see FAR share some of the fun soon.

Watching.


----------



## BESBS Player (2 December 2012)

This is where the patient make big money. Accumulate while the SP is down around annual (and historical) low levels, be patient to wait 12 months if it takes that long to get African drilling lined up, then sell with a multi-bagger accompanied by a 50% CGT discount. This was the tale of PCL. I see big similarities here.

At around 3c, history would tell you that good money can be made here. AP should be drilling Alhamdulillah soon (I believe it commences in roughly 3 weeks) and success there would have knock-on impacts for FAR given the location of the drill.

I'm accumulating at these prices.

Holding FAR ar 3.4c


----------



## BESBS Player (10 January 2013)

Interesting to see SP activity today. Could be that someone knows something (or thinks that they do!) regarding L6. More likely an overdue (IMHO) run leading up/into to AP's current wells. Nothing like nearology and positive externalities to get the punters excited!
Either way, I'm happy and hoping that the run will continue into Q1 2013 


Happily Holding FAR at 3.4c ave


----------



## BESBS Player (15 January 2013)

Decided to sell out of FAR. Once FAR announced that the probable reason for SP spike was the AP drill, I started to sell. If AP drill is a success, FAR benefit from nearology. If AP drill is a dud, FAR might cop some negative extermality impact.
With no update on FAR drilling (and the ASX release did give management a chance to make a positive comment in this regard), I'm happy to take profits and move on. As a BESBS (Buy Early Sell Before Spud) player, the AP drill complicates things given we have no set dates for FAR's own drilling. As AP are now underway (and information is not easy to get), I'll sell as it becomes a pseudo-spud for FAR, as th drill will have some impact on FAR. Time to get set elsewhere...
When FAR announce a drill date, then I'll re-consider returning.

All the best for long-term holders. Like PCL, when drilling finally does occur, I'm sure that the SP will rise significantly (and I'll probably be back).

Bought at 3.4c ave
Sold at 4c ave
Profit: 17.5%


----------



## mysteriousbrad (13 February 2013)

Alot of trades today... something in the works?


----------



## bigdog (9 September 2013)

*FAR -  FAR LIMITED*

FAR is the largest holder of exploration licences of any ASX listed oil and gas entity in Africa and has first mover advantage.

FAR Limited (FAR) is an independent Australian Securities Exchange listed (ASX: FAR) oil and gas explorer with high impact assets in West and East Africa. The Company has a robust balance sheet to progress its assets, an experienced Board, and management with strong relationships in Africa. FAR is dedicated to being a leading African focussed exploration company.

FAR has a deep and diversified pipeline of projects that vary from entry level positions in blocks with strong farm-out potential to high impact drill ready projects. The Company is well funded to advance significant exploration programs and could potentially drill five wells in the next 18 months.

In West Africa, FAR is the broadest holder of licences of any ASX listed entity with drill ready prospects in Senegal, Guinea Bissau and the AGC Profond. FAR’s recent acquisition of Flow Energy has strengthened its African focus, gaining entry to the fast emerging oil and gas province of Kenya, East Africa. FAR also holds acreage surrounded by proven petroleum systems in Western Australia.

Incorporated in Western Australia in 1984 as First Australian Resources NL, the Company became a listed public entity in 1985. In recognition of its shift from its exploration roots in Australasia and the Gulf of Mexico, the Company changed its name to FAR Limited in 2010. In November 2011, FAR finalised its takeover of Flow Energy Limited.

Market Cap:	102,493,716
Issued Shares:	2,499,846,742

52-wk High	0.0530
52-wk Low	0.0240


----------



## bigdog (29 October 2013)

AR Limited (FAR) is an independent Australian Securities Exchange listed (ASX: FAR) oil and gas explorer with high impact assets in West and East Africa. The Company has a robust balance sheet to progress its assets, an experienced Board, and management with strong relationships in Africa. FAR is dedicated to being a leading African focussed exploration company.

http://www.far.com.au/wp-content/uploads/2013/10/20131016-StockAnalysis-Special-Edition-FAR.pdf
Originally Published
16 October 2013

*FAR Cranks Up For Drilling in 2014*

Recommendation:
FAR is approaching a period of drilling activity during 2014 that offers significant share price upside on any hint of success. The stock is well capitalised and funded, offering a speculative buy as it continues in a short downtrend to test likely support at 3.4 cents and then has a target of 8 cents during H1 2014, once resistance at 5.5 cents is overcome FAR is well capitalised, with cash of about $25 million and a further US$5 million due from Cairn Energy once government approvals are in from Senegal. The stock is well positioned to emulate the successes of Hardman Resources in the early 2000’s.

Final costing for two wells in waters offshore Senegal is in preparation. FAR is fully carried to AFE costing for both wells by funding of up to about US$190 million from ConocoPhillips and Cairn Energy, with a retained net revenue interest of 15%. This funding alone represents a look through value of about 1.3 cps for FAR.

The Senegal coast is still very much a frontier province with no commercial oil found so far. However the presence of world class, excellent source rocks and mid Cretaceous reservoirs (89 million years old) that have proven to be prolific from offshore Mauritania in the north to Ghana in the south, support a strong case for exploration success.

The first target is expected to be a deep water turbidite (clastics) play in a buried underwater canyon where up to 900 mmbbls of oil is in prospect, but StockAnalysis assesses success with 304 mmbbls of oil. Water depth is around 1,500 metres and the target is about 1,500 metres below mud line. The well will test known sand formations that are seen to outcrop onshore. Sands are known to be prolific and could potentially provide large reservoir volumes with expectations of good reservoir quality characteristics, overlain by sealing mudstone. The target has high amplitude seismic anomalism typical of hydrocarbons in sediments.

The second well, estimated to cost about US$80 million to drill, will target the Lupalupa prospect also in deep water, but slightly shallower at around 900 metres. StockAnalysis evaluates a 154 mmbbl target but around 200 mmbbls is possible. This prospect occurs in a tilted fault block where carbonates are the main targeted reservoir, with seismic data indicating porosity is present, but effective seal is a risk.

StockAnalysis assesses a net present value for success at both Senegal wells at just over $1 billion for FAR, which compares favourably with its current market capitalisation of $93 million. Discovery value per share takes into consideration the impact of dilution resulting from additional equity required to assess and appraise any hydrocarbons.

Any success offshore Senegal would high grade several additional prospects for drilling. A programme of appraisal drilling would follow on, which might involve further low risk farm out funding by FAR or additional equity issues at a much more favourable share price.

In Kenya, FAR is seeking farm in support to test the Kifaru carbonate prospect in ~300 metres of water, close to the Kenyan coast. In this region, FAR identifies three possible source rocks with the deepest having produced gas in the Mbawa discovery. Nearer the coast, the chances of finding oil from less mature source rocks are thought to be higher.

The Kifaru prospect has a primary carbonate target at about 1,800 metres but a deeper sedimentary target at about 3,100 metres which could be tested in the event of encouragement from shallower sediments while drilling.
The Kenyan prosects are assessed with a 19% chance of finding hydrocarbons and then a 50/50 chance of either gas or oil.

Underlying value for FAR is limited as the company relies on its risked exploration upside.

StockAnalysis sees an undiluted risked value of about 6 cents per share for Senegal and 1.7 cps for the Kenyan acreage with other projects adding a further 8.6 cents to lift total target risked value to 17.5 cents.


----------



## bigdog (30 October 2013)

http://www.proactiveinvestors.com.a...fshore-senegal-oil-well-in-1q-2014-49603.html

*FAR Limited, Cairn Energy to spud first offshore Senegal oil well in 1Q 2014*
Tuesday, October 29, 2013 by Proactive Investors

FAR Limited (ASX: FAR) and Cairn Energy (LON:CNE) expect to spud in the middle of the first quarter of 2014 the first of their two wells offshore Senegal that target 1.1 billion barrels of prospective oil resources.

Notably, Cairn is funding FAR’s costs for the first of the two wells an investment cap of US$80 million while ConocoPhillips (NYSE: COP) is farming into a 10% stake in the blocks by providing FAR with a full carry on the second well.

After completion of the two farm-in deals with ConocoPhillips and Cairn, FAR will have secured full funding for its share of two exploration wells totalling US$190 million and net surplus cash of about US$10 million.

FAR retains a 15% working interest in the permits. ConocoPhillips and Cairn will hold 35% and 40% respectively.

Petrosen, the Senegal National oil company, has a 10% carried interest through the exploration phase.

The company has identified a number of play types including the “fan” and “shelf” plays and has mapped 11 potentially drillable prospects as well as numerous other leads on its three contiguous blocks - Rufisque, Sangomar and Sangomar Deep, which cover 7,490 square kilometres.

3822


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## bigdog (31 January 2014)

ASX ANN today
*01 October - 31 December 2013 Q4 Report*
http://www.asx.com.au/asxpdf/20140131/pdf/42mfvxq25vvlp0.pdf

*Highlights*

ConocoPhillips and Cairn Energy farm-ins to FAR’s Senegal exploration permits concluded
Full funding secured for two offshore Senegal exploration wells, an investment of approximately US$200 million (100% basis, FAR estimate)
Two Senegal wells to test combined prospective resources of approximately 1.5* billion barrels of oil, 225* million net to FAR (Reference ASX release 27 February 2013)
Rig mobilised, first Senegal well to test a deep water fan play expected to spud in Q1 2014
Planning for Guinea-Bissau exploration well scheduled to spud late 2014
Strong cash position of AU$23.5 million with no debt and further US$5million to be received from Cairn Energy Q1 2014


4582


----------



## bigdog (5 February 2014)

http://www.proactiveinvestors.com.a...hree-offshore-guinea-bissau-blocks-52544.html

*FAR Limited identifies oil and gas resources in three offshore Guinea-Bissau blocks*
Wednesday, February 05, 2014 by Proactive Investors	

FAR Limited (ASX: FAR) has identified hydrocarbon resources for its three offshore oil and gas blocks in Guinea-Bissau that highlights their prospectivity.

The existing East Sinapa oil discovery hosts Best Estimate Contingent Resource of 13.4 million barrels of oil along with Prospective Resources of 7.5 million barrels.

The West Sinapa prospect that is expected to be drilled by the joint venture in late 2014 is estimated to contain Prospective Resources of 64.7 million.

Total combined Prospective Resources for the three blocks are estimated to contain 954 million barrels of oil. An immediate follow up well is planned in 2014 in the event of success on the West Sinapa well.

FAR has a 15% interest in Sinapa Block 2 and Esperanca Blocks 4A/5A. Petroguin, the National Oil Company, has a 30% participating interest which is non-paying during the exploration phase.

Svenska Petroleum Exploration holds the remaining participating interest and is operator of the permits.


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## bigdog (6 February 2014)

http://far.live.irmau.com/irm/Company/ShowPage.aspx/PDFs/1843-29330502/InvestorPresentation

*FAR’s African story is unfolding*
Investor presentation
February 2014

*Investment highlights*
Highly prospective world class acreage, blue-chip partners, free-carry wells

• Board with significant E&P experience
• Diversified asset base with 9 licences in 3 countries : West and East Africa
• 7+ billion barrel prospect inventory
• 3 farm out deals concluded with global players – Cairn Energy, ConocoPhillips, Milio International
• 5 wells to be drilled in next 18 months – two commence March 2014
• $24m in cash + $5m in Q1
• Potential to build significant shareholder value

FAR $0.044 $+0.002 (+4.76%)
Thu 06 Feb 2014 2:31 PM (Sydney time
Volume 12,895,532

4791


----------



## bigdog (11 February 2014)

SP doing well today

*FAR     $0.050    $+0.008 +19.05%  volume 28,946,935 	@ Tue 11 Feb 2014 10:29 AM *

No doubt the day traders have jumped on this today and question is how long will it last!

*Article today*
http://resourcesrisingstars.com.au/

Why top analysts are gushing about oil explorer FAR Limited

This junior is about to drill two wells which could send its share price soaring by up to 800%, say brokers

Shares in FAR Ltd, the junior ASX-listed oil explorer, could jump from their current level of 4.5c to as much as 35c thanks to two potentially lucrative wells the company is about to drill, according to two prominent London broking firms.

Their forecasts are based on the immense potential of the wells which will start being drilled next month in the oil exploration hot spot of Senegal.

FAR has close to $30 million cash in the bank. But it won’t need to spend any of this to take full advantage of these exploration opportunities because all the costs of the wells are being paid by global petroleum giants ConocoPhillips and Cairn Energy.

FAR also has farm-out agreements covering wells set to be drilled early next year in Kenya.

Broker GMP Securities has valued the blue sky in FAR upwards of 35c, describing the company in its latest research note as “the best-funded small-cap explorer in our coverage universe ahead of two fully-carried, high-impact exploration wells”.

“Both relative to peers and in an absolute sense, FAR is in a very strong position ahead of its high-impact exploration drilling in Senegal,” said Tao Ly, GMP’s Head of Oil & Gas Research (Europe).

“The two wells offer blue-sky upside of 35c a share.”

GMP’s view is supported by another London broker, RFC Ambrian, which said it believes FAR shares are worth more than double their current price.

Jonathon Williams, RFC Ambrian oil analyst and commentator, said FAR is currently worth 9.8 cents a share and potentially a lot more if the two imminent offshore oil exploration wells come in.

Last year FAR farmed out interests in two offshore exploration permits in Senegal in West Africa.

ConocoPhillips of the US and Cairn Energy of the UK bought into the permits, leaving FAR with more than $30 million in cash in the bank and a free-carried interest through the two wells up to a maximum cost of $190 million, leaving Far with a 15 per cent working interest in the permits.

In his latest research note, Jon Williams said: “The first Senegalese well will test a 900 million barrel (MMbbl) prospect. The second well will test a ~400MMbbl prospect.

“The first of these two Senegalese wells should spud in the next month. We reiterate our Speculative Buy rating on the stock and fair value estimate of A ¢9.8/share.”

In a separate commentary issued to RFC Ambrian clients, Mr Williams went further. “Our analyst, Stuart Amor, met with FAR’s managing director Cath Norman recently and he remains very enthusiastic about its projects. In fact, he tells me that it is one of the most exciting stories out there right now, so take note.

But the FAR story is not restricted to Senegal and Kenya. It also holds exploration acreage in Guinea Bissau to the south of Senegal.

RFC Ambrian likes what it sees in Guinea Bissau.

Jon Williams noted: “FAR is also planning an exploration well for late 2014 in Guinea-Bissau, which I find interesting.”


I hold FAR

This could place me ahead in the February ASF share tipping competition!

5012


----------



## bigdog (11 February 2014)

FAR did very well today

*FAR     $0.059     $+0.017 +40.48%*
FAR LTD FPO (ORDINARY FULLY PAID)
Tue 11 Feb 2014 4:31 PM (Sydney time)
Incredible volume:  182,254,939 shares

Speeding ticket was issued today

Looks like many day traders in and out; what will happen tomorrow?

*This is another report in the Australian today.*

http://www.theaustralian.com.au/bus...til-iron-settles/story-fnciil7d-1226822947898

FAR

INVESTORS in African oil and gas exploration specialist FAR Ltd (FAR) are best advised to hold on to their seats as they are in for one hell of a ride in the next 12-18 months.

The Melbourne-based group, headed by Cathy Norman of volley ball-spiking fame, is set to be involved in five high-impact exploration wells in Senegal and Kenya by the end of the first quarter of next year, with the cost of at least three of the wells to be picked up by big-brother partners that FAR has introduced into the frontier hunts.

This is what oil and gas exploration by juniors is all about. It is about being fleet of foot, moving early into new and unfolding oil and gas plays, then following up with enough desktop studies and the occasional bit of seismic survey work to entice a big brother with deep pockets to come in and drill high-cost wells on big targets, leaving the junior with a free-carried interest on a shot for the big time.

That is exactly the position that FAR, drawing on Norman’s 20 years of industry experience in the dark continent, has achieved, meaning that this year and the early part of next year are set to be as exciting as it gets for a junior oil and gas company.

Mind you, FAR is not all that small. Its shares were last trading at 4.3c but it has 2.5 billion bits of paper out there, giving it a market capitalisation of $107m, and an enterprise value of $77m after its cash holding of about $30m is taken into account.

Still, success in any one of the upcoming wells - particularly either one or both of the first two offshore wells off Senegal - would see FAR’s market cap become a multiple of what it is today.

In a research note by GMP Securities circulating in London last week, FAR was described as the “best funded small cap explorer in our coverage universe ahead of two fully carried, high-impact exploration wells (in Senegal)”.

“FAR, partnered with ConocoPhillips and Cairn Energy, has exposure to two (free) carried exploration wells offshore Senegal targeting 1.5 billion barrels of oil equivalent of gross resources with further follow up potential,” GMP said.

“The two wells offer blue sky upside of 35c a share or around 9 times FAR’s current share price. The keenly awaited first well will target the deep water slope fan play, targeting mean prospective resources of 900m barrels.”

It is not a long wait either. The drilling rig is expected to move from a Cairn-operated exploration program off Morocco to the site of the first Senegal wells in March.

FAR has held on to 15 per cent of the action. Needless to say, its leverage to success is extreme, while damage from failure will be mitigated by what could come from wells to be drilled later onshore/offshore Kenya, and offshore Guinea-Bissau.

I hold FAR

5084


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## BullsihBear (14 February 2014)

This thread is hilarious, I find it fun some of you guys are ridding this P&D and it takes me back to the 90s. 

Solid companies do not and never will pay for stock promotions. This companies product is mainly their own stock, sure you can make money on it but at least know the game you are in.

Still learning the Aussie market but thanks for the laugh by trying to pump it and make it seem legitimate, you're awesome.


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## bigdog (19 March 2014)

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01502272

19 March 2014
*Shareholder update*

Drilling offshore Senegal to commence in April
Positive news from Sunbird - 1 well offshore Kenya
Strong cash position of $28.4M

*Senegal update*
Drilling of two potentially high impact offshore oil exploration wells in FAR Limited’s (“FAR”) Senegal acreage in west Africa will begin in April after receiving advice from joint venture partner Cairn Energy PLC (“Cairn”) of the UK.

Cairn yesterday advised that, “The two well exploration programme offshore Senegal (Cairn 40% WI, Operator) will start in April after drilling operations are completed in Morocco.

In a release to the London Stock Exchange Cairn provided an update on the schedule for the Cajun Express drilling rig which is completing Cairn’s Moroccan exploration well and which will be moving to Senegal to drill the two FAR wells.

The first exploration well will be located on the North Fan prospect in 1,500m water depth. This well will be immediately followed by a second exploration well targeting a Shelf Edge Prospect in 1,100m of water. These will be the first deep water (>1,000m) wells drilled in Senegal and only the second and third deep water wells along the central Atlantic margin of West Africa.

The two exploration wells will test combined prospective resources of approximately 1.5 billion barrels of unrisked prospective resources* (Reference: FAR ASX release of 27/2/2013) and FAR retains a 15% working interest in the blocks.

FAR has successfully secured funding of approximately US$190 million (100% basis, FAR estimate) for these two exploration wells in farm out deals completed with Cairn and ConocoPhillips.

“It has been a terrific year for FAR in that we have now completed three farm-out deals and as a consequence we are funded through two high impact exploration wells in Senegal spudding in the next month as well as being fully funded through a seismic and drilling program in Kenya Block L6 due to be commencing in Q2. The recent announcement by Pancontinental updating the status of the Sunbird-1 well is highly encouraging for offshore Kenya, especially the reef play that extends through both Blocks L6 and L9 in which FAR has an interest.” 

Cath Norman
Managing Director

6378


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## bigdog (17 April 2014)

The share price has tumbled in April 2014!! Share price has not been moved following today's announcement at FAR $0.048 $0.000 (0.00%)

*Announcement today*

*FAR 	17/04/2014 	9:47:19 AM 	 		Drilling commences offshore Senegal*

http://far.live.irmau.com/irm/Compa...853-89401159/DrillingcommencesoffshoreSenegal

*Drilling commences offshore Senegal*

 Drilling has commenced on the offshore exploration well, FAN-1, offshore Senegal in which FAR Ltd (ASX:FAR) holds a 15% interest (Cairn Energy PLC (“Cairn”) 40%, ConocoPhillips 35%, Petrosen 10%). 

The well will test a stacked fan structure with the potential to contain approximately 900 million barrels of oil (mmbbls)* with approximately 135mmbbls net to FAR*. (Reference: FAR ASX release of 27/2/2013). 

The well will be drilled using the fifth generation rig, the Cajun Express, which arrived on site Saturday 12th April. 

FAN-1 is the first exploration well in a two well programme, offshore Senegal with the wells to be drilled back to back. The first well will be located on the North Fan prospect in 1,500m water depth. This well will be immediately followed by a second exploration well targeting a shelf edge prospect in 1,100m of water (See figure 1). 
These will be the first deep water (>1,000m) wells drilled in Senegalese waters and the first offshore wells to be drilled for over 20 years. The two exploration wells will test combined prospective resources of approximately 1.5 billion barrels of unrisked prospective resources* (225 mmbbls net to FAR*) and FAR retains a 15% working interest in the blocks. (Reference: FAR ASX release of 27/2/2013). 

In accordance with the terms of farm out deals completed with Capricorn Senegal Limited (a 100% subsidiary of Cairn) and ConocoPhillips, FAR has successfully secured its share of funding for these two exploration wells. Based on current well cost estimates, the carry funding and cash payments that FAR has or will receive under the farm out agreements are expected to be in excess of FAR’s share of the combined well costs for the two wells. 

“Our shareholders and the FAR team have been eagerly awaiting the spud of this first Senegalese well and I am delighted to make this announcement. We have high hopes for these two wells which have the potential to be company makers for FAR. The next year is going to be very exciting for our company with five potentially high-impact wells to be drilled in our West and East African exploration permits.” 

“Of course exploration has its risks but we are confident that FAR can maximise the value from these two exploration wells. Success in either of these wells opens the door to a large play fairway of follow on drill targets which are very significant for FAR.” 

Cath Norman Managing Director

The FAN-1 well is a pure exploration well and, even if successful, will not be completed as a commercial production well. In the event of a success, the Joint Venture may decide to conduct further drilling and evaluation activities.

As FAR is not the operator of the Senegal wells the information flow it receives is dependent on reports provided by the operator Capricorn Senegal Limited. Operations on the FAN-1 well are expected to last approximately two months, and FAR will release reports in collaboration with the Joint Venture partners.

6922


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## bigdog (16 May 2014)

15 May 2014
*Shareholder update : Senegal drilling*

http://far.live.irmau.com/irm/Compa...866-38042189/ShareholderupdateSenegaldrilling

Cairn Energy PLC, the operator of FAR’s two well drilling campaign offshore Senegal has released the following statement to the media in conjunction with their annual reporting to shareholders. 

Cairn’s planned two well exploration programme offshore Senegal began in April using the ‘Cajun Express,’ a 5th generation semi - submersible drilling unit.

Operations continue on the FAN-1 well, located on the North Fan Prospect in 1,427m water depth in the Sangomar Deep block approximately 100km offshore Senegal. This well is targeting multiple stacked deepwater fans interpreted as potentially thick, high quality clastic reservoirs.

In light of required rig maintenance and to optimise the rig schedule, the top hole section has also been drilled on the second exploration well SNE-1, located on the Shelf Edge Prospect in 1,100m of water.  The rig has returned to FAN-1 to continue drilling the deeper sections.

After drilling operations on FAN-1 are complete the rig will then return to the SNE-1 location. This dual objective  prospect targets stacked Cretaceous clastics and a deeper target of karstified and fractured Lower Cretaceous shelf carbonates. There are several other shelf edge anomalies that provide follow-up potential in the success case.

Cairn (Operator) has a 40% WI in the three blocks offshore Senegal (Sangomar Deep, Sangomar Offshore, Rufisque Offshore) and is working with JV partners: ConocoPhillips 35% WI; FAR Ltd 15% WI and Petrosen, the Senegal National Oil Company, retaining a 10% WI in the exploration phase. In the event of a commercial success, ConocoPhillips will have the option to operate the future development of the resource.

“FAR is in an enviable position as we continue our drilling program in Senegal. The company has two strong partners, retains a high equity in any discovery made and is well funded to meet its commitments in these wells.

Success in either of these two wells offshore Senegal will be significant and open the door to a large inventory of follow on drill targets creating sizeable upside for the company and its partners. It is a fantastic milestone for the company and one that we aim to reproduce in Kenya where we are currently progressing a farm-out initiative. We expect that the success of the recent Sunbird-1 well will change the exploration landscape offshore Kenya where FAR is well positioned with a strong acreage position. It is wonderful that FAR has a deep African portfolio of opportunities for our shareholders.”

Cath Norman
Managing Director

8593


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## bigdog (2 June 2014)

http://far.live.irmau.com/irm/Company/ShowPage.aspx/PDFs/1871-19267559/EquityRaisingof80million

*Equity raising of $8 MILLION *
FAR Ltd ("FAR" ASX: FAR) is pleased to announce an equity raising placement which is expected to raise $8 million before expenses. The placement was arranged by Bell Potter Securities Limited (“Bell Potter”) as Lead Manager. 

The placement is being undertaken to fund further exploration in offshore Kenya potentially including accelerating the evaluation of the Miocene reef oil play offshore Kenya in which the company has a significant  acreage position and for general working capital purposes.

The placement of a total of 200,000,000 new ordinary shares in the Company (“Ordinary Shares”) will raise $8 million before expenses. 

The price per new share offered under the Placement of A$0.04 per new share represents a 15% discount to the Company’s current market price on the ASX and a 10% discount to the 30-day volume weighted average price on the ASX. 

FAR’s Managing Director, Ms Cath Norman, said, “FAR is pleased to have raised money to allow the company to move forward our key position in Kenya in the short term. Building our portfolio of opportunities for our shareholders is key to our strategy and we aim to deliver a high impact drilling program in Kenya following on from the current drilling program offshore Senegal.” 

Upon completion of the Placement, the Placement Shares will represent approximately 7.4% of the enlarged share capital of the Company and the Company will have 2,699,846,742 Ordinary Shares on issue. The Placement Shares will, when issued, rank equally in all respects with the existing Ordinary Shares. 

Application will be made to the ASX for the Placement Shares to be admitted to be quoted on the ASX. Settlement of the Placement Shares are expected to occur Friday 6 June 2014 with normal trading to occur Tuesday 10 June 2014. 

The presentation used for capital raising purposes was the same as the Annual General Meeting Presentation released on 28 May 014. 

The trading halt in the Company’s new shares can now be lifted.

8906


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## bigdog (27 August 2014)

ASX ANN FAR

*FAR $0.056 $+0.009 +19.15% @ Wed 27 Aug 2014 10:41 AM 
-- high of 0.062 earlier*

27/08/2014 	10:09:54 AM 			*Oil samples recovered in FAN-1 exploration well Senegal*
http://www.asx.com.au/asxpdf/20140827/pdf/42rsbq49srxm19.pdf

Oil samples have been recovered in the FAN-1 exploration well being drilled offshore Senegal by FAR Ltd (ASX:FAR) and its joint venture partners Cairn Energy PLC (Operator), ConocoPhillips and Petrosen - the Senegalese national oil company.

Elevated gas and fluorescence were encountered in a shallow secondary target and the presence of oil was confirmed by an intermediate logging program. Oil samples from a thin sand were collected by an MDT wireline formation tester for further analysis. This well data confirms the existence of a working petroleum system.

The FAN-1 well has reached a depth of 4402 metres where intermediate casing has now been set. The well will be deepened to planned Total Depth (“TD”) of approximately 5000 metres. Conclusive results for this well will not be available until drilling operations are completed and all of the well data is fully assessed. The Operator anticipates that drilling of the FAN-1 well will be completed during the next month after which time the rig will be moved to the SNE-1 well location, the second well of the two well program offshore Senegal.

FAR Managing Director, Cath Norman said, ”The presence of oil In the secondary target is important in helping our geological understanding of the margin and is significant because it confirms the existence of a working petroleum generating system. It is very pleasing that the building blocks of a working petroleum system are present and we look forward to drilling ahead to deeper objectives in FAN-1 and completing the SNE-1 well.”

As previously announced, the drilling program has been designated as “tight” by the Operator and hence no information related to depth or formation will be provided during the drilling beyond what is required to meet ASX continuous disclosure obligations.

This release in relation to the matter referred to in the Company’s trading halt announcement of 25 August 2014.

*Pre-drill estimates*
The FAN-1 well is designed to test a stacked fan structure with the potential to contain approximately 900 million barrels of oil (mmbbls) (unrisked prospective resources)* with approximately 135mmbbls net to FAR* which owns a 15% working interest. FAN-1 will be followed immediately by the SNE-1 well to be drilled on the shelf targeting approximately 600mmbbls of oil (unrisked prospective resources)* with approximately 90mmbbls net to FAR* (reference: FAR ASX release of 27 February 2013).

*About the drilling offshore Senegal*
FAN-1 is the first exploration well in a two well program, offshore Senegal with the wells to be drilled back to back. The first well will be located on the North Fan prospect in 1,500m water depth. This well will be immediately followed by a second exploration well targeting a shelf edge prospect in 1,100m of water (See figures 1, 2 and 3).

These will be the first deep water (>1,000m) wells drilled in Senegalese waters and the first offshore wells to be drilled for over 20 years. The two exploration wells will test combined prospective resources of approximately 1.5 billion barrels of unrisked prospective resources* (225 mmbbls net to FAR*) and FAR retains a 15% working interest in the blocks. (Reference: FAR ASX release of 27/2/2013).

The FAN-1 well is a pure exploration well and, even if successful, will not be completed as a commercial production well. In the event of a success, the Joint Venture may decide to conduct further drilling and evaluation activities.

88


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## bigdog (16 September 2014)

*FAR     $0.082    $+0.004 +5.13% FAR LTD FPO (ORDINARY FULLY PAID) Tue 16 Sep 2014 9:00 PM (Sydney time)*
*volume 81,946,193 	from 997 trades with value $6,740,389 		
high 0.086 	and low of 0.080*

*SHARE PRICE HAS BEEN MOVING UP*
Date_____	Close	 _Volume
16/09/2014 0.082 81,946,193  with high of 0.086
15/09/2014	0.078	35,447,796
12/09/2014	0.069	31,878,887
11/09/2014	0.070 	43,989,651
10/09/2014	0.071	62,939,854
09/09/2014	0.065	94,250,347
08/09/2014	0.055	9,218,045
05/09/2014	0.054	7,639,842




*Two speeding tickets in past week*
FAR 	16/09/2014 	12:38:40 PM  		Response to ASX Price Query 
FAR 	9/09/2014 	1:13:12 PM 			Response to ASX Price Query 

*RESPONSE FROM FAR INCLUDED:*
The Entity notes speculation on investor websites in relation to the FAN-1 well currently being drilled offshore Senegal and believes the increase in share price and volume may relate to this speculation. 

The FAN-1 well remains in an active operational phase. As reported in our announcement entitled ‘Oil samples recovered in FAN-1 exploration well offshore Senegal’ released on 27 August 2014 and ‘Half Year Report’ released on 12 September 2014, we anticipate completion of drilling on the FAN-1 well by the end of this month. 

The well has been declared a ‘tight hole’ by the Operator and as such no information related to depth or formation will be provided during the drilling beyond what is required to meet ASX continuous disclosure obligations. 

FAR is reliant on the Operator (Cairn Energy of the UK) to provide information on the status of the well and any evaluation work. 

We note that the Operator has made no recent announcement on the well. In these circumstances share market participants should exercise care before contemplating transacting in FAR shares until such time as FAR provides formal advice from the Operator received in this regard.

*info:  TIGHT HOLE *- A drilling well about which all information - depth, formations encountered, drilling rate, logs - is kept secret by the operator. (CAIRN ENERGY CNE)

*FAR was leading ASX stock sold today in volume*
FAR Limited 	ASX:FAR 	$0.082 	+5.128% 	81,946,193 shares



*PRIOR ASX ANNOUNCEMENT*
*27/08/2014 10:09:54 AM Oil samples recovered in FAN-1 exploration well Senegal*
http://www.asx.com.au/asxpdf/20140827/pdf/42rsbq49srxm19.pdf

Oil samples have been recovered in the FAN-1 exploration well being drilled offshore Senegal by FAR Ltd (ASX:FAR) and its joint venture partners Cairn Energy PLC (Operator), ConocoPhillips and Petrosen - the Senegalese national oil company.

Elevated gas and fluorescence were encountered in a shallow secondary target and the presence of oil was confirmed by an intermediate logging program. Oil samples from a thin sand were collected by an MDT wireline formation tester for further analysis. This well data confirms the existence of a working petroleum system.

The FAN-1 well has reached a depth of 4402 metres where intermediate casing has now been set. The well will be deepened to planned Total Depth (“TD”) of approximately 5000 metres. Conclusive results for this well will not be available until drilling operations are completed and all of the well data is fully assessed. The Operator anticipates that drilling of the FAN-1 well will be completed during the next month after which time the rig will be moved to the SNE-1 well location, the second well of the two well program offshore Senegal.

FAR Managing Director, Cath Norman said, ”The presence of oil In the secondary target is important in helping our geological understanding of the margin and is significant because it confirms the existence of a working petroleum generating system. It is very pleasing that the building blocks of a working petroleum system are present and we look forward to drilling ahead to deeper objectives in FAN-1 and completing the SNE-1 well.”

As previously announced, the drilling program has been designated as “tight” by the Operator and hence no information related to depth or formation will be provided during the drilling beyond what is required to meet ASX continuous disclosure obligations.

This release in relation to the matter referred to in the Company’s trading halt announcement of 25 August 2014.

Pre-drill estimates
The FAN-1 well is designed to test a stacked fan structure with the potential to contain approximately 900 million barrels of oil (mmbbls) (unrisked prospective resources)* with approximately 135mmbbls net to FAR* which owns a 15% working interest. FAN-1 will be followed immediately by the SNE-1 well to be drilled on the shelf targeting approximately 600mmbbls of oil (unrisked prospective resources)* with approximately 90mmbbls net to FAR* (reference: FAR ASX release of 27 February 2013).

I HOLD

426


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## bigdog (18 September 2014)

*SP down a little today!!*

*FAR     $0.078    $-0.002 -2.50% FAR LTD FPO (ORDINARY FULLY PAID) Thu 18 Sep 2014 8:20 PM (Sydney time)
high 0.080 & low	0.075; volume	14,138,178; 	trades 248; 	$1,101,129*

ASX ANN - 
*FAR 	18/09/2014 	4:05:30 PM 			Becoming a substantial holder*
http://www.asx.com.au/asxpdf/20140918/pdf/42s9d6ptzs4s0t.pdf

The substantial buyer was FARJOY PTY LTD (MD Timonthy Frank Robertson) who now  owns 5.04% of the shares who have been buying shares since June 2014 and the majority of shares during the past 12 days.

Farjoy  posted the following on Hot Copper today about their purchases.
http://******************/threads/b...2362169/page-40?post_id=13995848#.VBq0SxZ1OSo


1. There has been speculation on HotCopper about recent trading in FAR, and after our market announcement today that we hold more than 5%, about Farjoy’s investment in FAR.

2. This note is to set the record straight.

3. I am the Managing Director of Farjoy and am responsible for its decisions.

4. Farjoy is a long term investor. It has been investing in oil and gas now for 50 years. It is a significant or substantial shareholder in numerous public companies, positions it has held in some cases for many years.

5. Farjoy’s investments are also strategic, in the sense that it will take positions in industries which it foresees will prosper in the medium term. It takes account of geopolitical concerns and has regard to long-range forecasting. It is also an investor in African enterprises, some public and others private.

6. We have been invested in FAR for some years, in a modest way, and participated in the recent capital raise for the Kenyan prospects, on the strength of the miocene reefs and our knowledge of Rift geology.

7. We then examined the West African prospects. We noted that Cairn had published its opinion of the odds of a commercial strike, and concluded that there was a reasonable (one in five) chance of success. Once the August announcement was made (working petroleum system and oil in the upper northern fan), we decided that the chance of success was one in two.

8. Our decisions to increase our exposure were made on the basis of published information and research, and our view about the strength of management - nothing else. We have not sold FAR, as our notice discloses.

9. There are two papers published in the grey literature, one a joint Hunt/FAR discussion of the 3D of the Fan systems and the 1970s drilling program on the Rufisque dome, and the other a USGS analysis of petroleum systems of Senegal and neighbouring States. There are numerous published papers on the Rio Muni basin, which has strikingly similar geology. Cairn has published a list of its contractors on the Senegal play. Cairn and FAR have made announcements on prospects, and FAR on drilling.

10. FAR is drilling into the best prospect off the upper West coast, and its 3D shows that all the characteristics of a successful oilfield are present, bar the oil. There are numerous stacked fans (old river deltas with good porosity), and 3 fan systems (north central and south), and the 1970s drilling found oil in the Dome, and a kitchen at work. It produces Types 1 and 2 kerogen, with extremely high organic content, as the graph in the FAR presentation to the Good Oil conference shows. FAR has announced that there is oil in the upper northern fan. So long as they are sealed, there should also be oil in the lower fans, as oil migrates upwards under pressure. The strike would also derisk the second hole (already partly drilled) because of its proximity to the north fans, as well as the middle and south fans, which would be drilled for appraisal if there is a commercial strike at the northern fans. It is probable that the reservoirs identified in the 3D would be filled from the same source kitchen. The Senonian unconformity introduces fascinating parallels with the Rio Muni and Levantine basins. Against this is the possibility that the field is uncommercial because of poor seals, oil quality etc.

11. There are numerous risks which attend commercialisation, especially off West Africa. These are balanced by
a. the desperation of host countries to relieve poverty, which sometimes translates into sensible policy decisions within legal frameworks protected by ICSID based investor protection treaties (with which we are familiar through litigation and our experience in Mauritius, Tanzania and Malawi),
b. increasing instability in Iraq and Libya,
c. sanctioned production in Iran and Russia, and
d. expected enhancements to supply security in the EU.

12. The Netherlands, which is the leading EU crude oil consumer, imports 40% from Russia, and 7% from Africa. I think that it would prefer the reverse, and may be prepared to fund appraisal or production drilling by forward sales, if Senegal proves a large enough commercial field.

13. I am not a geologist and do not give investment advice. You should not rely on my opinion to make investment decisions.

0525


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## bigdog (6 October 2014)

*The moment FAR shareholders have been waiting for is not far away!!!*

FAR 	6/10/2014 	9:23:17 AM 			Trading Halt 
http://www.asx.com.au/asxpdf/20141006/pdf/42spry9djwyvl4.pdf

*Request for Trading Halt*
FAR Ltd (ASX: FAR) requests a trading halt in its securities effective immediately pending an announcement by FAR Ltd in relation to an update on the Senegal FAN-1 well results:

*In accordance with Listing Rule 17.1, FAR advises that it:*
(a) is seeking the trading halt pending an announcement in relation to the Senegal FAN-1 well results;

(b) wishes the trading halt to last until the earlier of the time when the announcement is released or FAR Ltd requests the trading halt to cease, subject to the limit imposed by ASX Listing Rules and in any event no later than the commencement of trading on Wednesday, 8 October 2014; and

(c) is not aware of any reason why the trading halt should not be granted.

If you have any queries in relation to the above, please do not hesitate to contact me.
Yours sincerely
Cath Norman

I Hold FAR and is my share tip for Oct Comp

852


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## bigdog (7 October 2014)

NO ASX ANNOUNCEMENT YET.

However, CAIRN ENERGY made announcement in UK minutes ago!!

http://www.cairnenergy.com/index.asp?pageid=27&newsid=460

*News*
*Oil discovered offshore Senegal*

7 October, 2014

Cairn together with its joint venture partners is pleased to announce that the FAN-1 exploration well, offshore Senegal, has discovered oil.

The well, located in 1,427 metres (m) water depth and approximately 100 kilometres offshore in the Sangomar Deep block, has reached a Target Depth (TD) of 4,927 m and was targeting multiple stacked deepwater fans. 

Preliminary analysis indicates:

    29m of net oil bearing reservoir in Cretaceous sandstones  
    No water contact was encountered in a gross oil bearing interval of more than 500m
    Distinct oils types ranging from 28 ° API up to 41 ° API  indicated so far from a number of oil samples recovered to surface
    Initial gross STOIIP estimates for the FAN-1 well range from P90, 250 mmbbls, P50, 950 mmbbls to P10, 2,500 mmbbls and are broadly in line with pre-drill STOIIP estimates

As stated prior to the commencement of operations there are no plans for immediate well testing. Further evaluation will now be required to calibrate the well with the existing 3D seismic in order to determine future plans and optimal follow up locations to determine the extent of the discovered resource. 

Once operations are completed on the FAN-1 well, the rig will move to complete the second well, SNE-1 where the top hole has been drilled pending re-entry. This Shelf Edge Prospect targeting a dual objective in 1,100m water depth is in the Sangomar Deep block.

The FAN-1 well was drilled using the semi-submersible drilling unit "Cajun Express".  It is the third well in Cairn's North West Africa programme and first in Senegal. 

Cairn has a 40% Working Interest (WI) in three blocks offshore Senegal (Sangomar Deep, Sangomar Offshore and Rusifique) ConocoPhillips has 35% WI, FAR Ltd 15% WI and Petrosen, the national oil company of Senegal 10% WI. The three blocks cover 7,490 km².

Simon Thomson CEO Cairn Energy PLC said;

"The oil discovered in the FAN-1 prospect is an important event for Senegal and the Joint Venture. 

We have encountered a very substantial oil bearing interval which may have significant potential as a standalone discovery. Furthermore, this result materially upgrades the prospectivity of the block with a proven petroleum system and a number of deep fan and shelf prospects established.

Work is already underway with the Joint Venture partners to determine follow up activity which is targeted for 2015 onwards.

Cairn looks forward to working with the Government of Senegal and our partners to realise the full potential from this large acreage position off the West coast of Senegal."

950


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## bigdog (7 October 2014)

http://www.asx.com.au/asxpdf/20141007/pdf/42sqwsg4h21knx.pdf
*FAR 	7/10/2014 	5:52:47 PM 	 		Significant oil discovery offshore Senegal *

*The ASX announcement included "A significant oil discovery" compared to Cairn Announcement * 

7 October 2014
*Significant oil discovery offshore Senegal*

A significant oil discovery has been made in the FAN-1 exploration well by FAR Ltd (ASX: FAR) offshore Senegal in West Africa.
Preliminary analysis indicates:

29 metres of net oil bearing reservoir in Cretaceous age sandstones,
 A gross oil bearing interval of more than 500 metres,
 No oil/water contacts were encountered,
 Distinct oil types ranging from 28 ° API up to 41 ° API from a number of oil samples recovered to surface.

The key pre-drill well objectives have been met with preliminary well results indicating a significant resource volume. FAR has also identified potential net oil bearing reservoirs in addition to those included in the preliminary analysis.

As intended pre-spud, there are no plans for immediate well testing. Further analysis of the oil samples, core data and wireline logs is being completed to evaluate the net oil bearing reservoirs and the possible additional pay intervals in order to assess the full potential of the resource.

Consideration is now being given to formulating a follow up appraisal and exploration program. Calibration of the FAN-1 well with the existing 3D seismic will be undertaken to fully understand the discovery, determine future plans and optimal drilling locations.

Cath Norman FAR managing director said:
“The FAN-1 oil discovery is an important event for Senegal and the Joint Venture and could be transformational for FAR.
We have encountered a very substantial oil bearing interval which has potential to be a significant standalone development. Confirmation of a proven hydrocarbon system materially upgrades the potential of the multiple deep fan and shelf edge prospects that FAR has identified in the blocks.

FAR looks forward to working with the Government of Senegal and our joint venture partners in determining follow up appraisal and exploration drilling plans.

I thank shareholders for their support during this exciting time and look forward to providing further information on the FAN-1 well and continuing the current drilling program with the second exploration well, SNE-1. The FAR Board is committed to protecting and realising the full value of its Senegal blocks for the benefit of its shareholders.”

Drilled in 1,427 metres of water to a total depth of 4,927 metres, the FAN-1 well is located 100km offshore in the Sangomar Deep block and targeted a series of stacked deep water fans. The well was drilled using the semi-submersible drilling unit “Cajun Express”. The FAN-1 well has been drilled to TD and logged and the rig will shortly move to complete the second well SNE-1. This shelf edge prospect is targeting a dual objective in 1,100 metres water depth in the Sangomar Deep block evaluating prospective resources of 600 million barrels of oil (unrisked best estimate, 100% basis, reference ASX release of 27 February 2013*).

The participating interests in FAR’s three blocks offshore Senegal (Sangomar Deep, Sangomar Offshore and Rusifique) are: FAR 15%, Cairn Energy (Operator) 40%, ConocoPhillips 35% and Petrosen, the national oil company of Senegal 10%. The three blocks cover 7,490km².

This release is in relation to the matter referred to in the Company’s trading halt announcement of 6 October 2014.

A copy of Cairn Energy PLC release can be found at www.cairnenergy.com

*About FAR in Senegal*
FAR identified a number of play types and oil prospects from 3D seismic data in the Senegal Blocks – Sangomar Deep, Sangomar Offshore and Rusifique. Eleven prospects identified ranged in potential size from 58 to 632 million barrels (mmbbls) of prospective oil resource (un-risked, best estimate, 100% basis*). In combination, the blocks were assessed to have prospective resources of 3.585 billion barrels of oil (unrisked best estimate, 100% basis, reference FAR ASX release 27/2/2013*).

In 2014 FAR completed two farm-in agreements on its offshore Senegal blocks thus securing funding for the current 2 well drilling campaign. These agreements were with Cairn Energy PLC (“Cairn”) and ConocoPhillips.

On 17 April 2014, drilling commenced on the first of the two wells FAN-1. FAN-1 is the first exploration well in a two well program, offshore Senegal with the wells to be drilled back to back. The FAN-1 well is located in 1,427m water depth and is designed to evaluate two overlapping prospects – North Canyon and Beer (reference FAR ASX release 27/2/2013). This well will be immediately followed by a second exploration well targeting a shelf edge prospect in 1,100m of water (See figures 1 and 2).

These two wells are the first deep water (>1,000m) wells drilled in Senegalese waters and the first offshore wells to be drilled for over 20 years. The two exploration wells were planned to evaluate a combined prospective resources of approximately 1.5 billion barrels of unrisked prospective resources*(225 mmbbls net to FAR, reference FAR ASX release 27/2/2013*). FAR retains a 15% working interest in the blocks.

*Location of the two Senegalese wells in the FAR 3D seismic area, offshore Senegal:*


----------



## bigdog (8 October 2014)

*The market liked the announcement yesterday!!

FAR $0.137 $+0.037 +37.00% @ Wed 08 Oct 2014 11:14 AM

High today of  	$0.157 	current volume 107,926,682 	trades 1,794 	value $15,076,125 	previous close $0.100*

041


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## bigdog (9 October 2014)

*FAR closed yesterday at 0.145 after high of 0.157 with volume of 200,727,961 shares*

*Date_____	Close	Volume*
08/10/2014	0.145	200,727,961
07/10/2014	0.100	0 trading halt
06/10/2014	0.100	0 trading halt
03/10/2014	0.100	45,621,201
02/10/2014	0.099	67,440,238
01/10/2014	0.084	16,777,315
30/09/2014	0.083	15,495,503
29/09/2014	0.082	37,880,734

"Farjoy buying another 53 million shares in FAR on Wednesday morning" -- now holds 10% of FAR





http://www.theage.com.au/business/m...l-offshore-oil-discovery-20141008-10rpyq.html

*Explorer FAR's shares soar after Senegal offshore oil discovery*
Date     October 8, 2014 - 5:37PM 
Angela Macdonald-Smith

Investors in junior oil explorer FAR have welcomed a 45 per cent surge in the value of their company thanks to an oil discovery off Senegal that has triggered comparisons with the billion-barrel-plus Jubilee find off Ghana.

The discovery by the FAN-1 well, revealed by venture operator Cairn Energy in London, was described as  "transformational" for FAR by managing director Cathy Norman, who spent much of Tuesday afternoon at a celebration lunch in Melbourne.

London-listed Cairn has given potential oil-in-place numbers at FAN-1 as 250 million barrels in the 90 per cent case and 2.5 billion barrels in the 10 per cent case, with the most likely number 950 million barrels.

Estimates of potential recoverable volumes range from 15 to 18 per cent of that from more cautious analysts to 30 to 40 per cent by others.
Advertisement

Ms Norman signalled FAR was assuming the upper end of that range, given positive results so far.

Melbourne-based UBS oil and gas banker Gordon Ramsay, a petroleum geophysicist by training, drew a comparison between the find made by the FAN-1 well and the Jubilee oil discovery made by Tullow Oil and *Kosmos Energy off Ghana in 2007 – the largest oil find off west Africa.

"Jubilee looks like a very interesting analogy to this," Mr Ramsay said. "It is highly likely this is a multi-hundred-million-barrel oil discovery."

Ms Norman said the comparison with Jubilee was "fair, maybe not in terms of size because we haven't proven that, but certainly in terms of significance".

"It's probably going to open up a whole new area for exploration – that's the significance more than anything," she said.

Ms Norman said the find would open up exploration in the Senegal, Guinea-Bissau and Guinea area just as Jubilee did around the Ghana, Sierra Leone and Liberia part of west Africa.

FAR shares jumped as much as 60 per cent before closing at 14.5 ¢, adding $120 million to the junior's market cap.

Some believe it has much further to go, with NSW silk Timothy Robertson's family company Farjoy buying another 53 million shares in FAR on Wednesday morning at an average of 14.13 ¢.

Mr Robertson, whose company now owns 10 per cent of FAR, took to the day trader website HotCopper to explain his confidence in the Senegal play, describing it as "the best prospect off the upper west coast" of Africa.

He pointed to several other "fan system" structures that could also be filled with oil from the same "source kitchen".

Many risks still remain, however.

US energy consultant Tudor, Pickering, Holt & Co said it was "good to see a play-opening oil discovery", but raised questions over whether the discovery could be* *commercially developed.

The quality of the reservoir would be key, as that has caused a number of finds on the west African margin to be non-commercial, the consultant said.

Ms Norman said stating commerciality of the find now would be "foolish".

But she said at a conservative estimate of 350 million barrels of oil, the find cleared the hurdle to be commercial, which was 150 million to 200 million barrels.

"It's clear that what we've got at the moment could be a stand-alone development, which is fantastic news," she said. "And we're only just scratching the surface, there is still a lot more to come."

US major ConocoPhillips, which owns a 35 per cent stake in the find, said preliminary results from the drilling were "encouraging" but noted further evaluation was needed "in order to determine commerciality".

Cairn owns 40 per cent, while Senegal's national oil *company Petrosen owns the remaining 10 per cent


----------



## bigdog (11 October 2014)

FAR closed Friday at     $0.120    $0.000 (0.00%)




Date_____	__High	_Close	Volume
10/10/2014	 0.120	  _0.120	38,477,828
09/10/2014	 0.140	 _0.120	40,448,103
08/10/2014 	0.157	 _0.145	200,727,961
07/10/2014	 0.000	 _0.100	0 trading halt
06/10/2014	 0.000	 _0.100	0  trading halt

"RCF Ambrian analyst Stuart Amor wrote: “We reiterate our speculative buy rating. We now estimate the stock’s fair value to be A21.1c, up from our previous A13.5c estimate"

http://resourcesrisingstars.com.au/infopage/5446

Ten Bagger, Friday 10th October
*FAR out: rich oil find makes big profits for small punters*

Junior oil explorer FAR Ltd (ASX: FAR) made the small punters’ dreams come true this week when it unveiled a major oil discovery off the West African coast.

FAR shares were just 3c when the company started drilling the FAN-1 well off the coast of Senegal in July. The stock rose to 10c last week in anticipation of the drilling results and hit a high of 16c on this week’s news of the find.

The well hit 29m of net oil bearing reservoir out of a gross oil bearing interval of more than 500m and, importantly, that no oil/water contacts were encountered.

The announcement prompted analysts around the world to set price targets of up to 21c for FAR, still well above the stock’s price this morning of xxc.

Bell Potter Managing Director of Institutional Equities, Angus Aitken, was enthusiastic about the discovery. “FAR announced they had made a major oil discovery off Senegal. Its black oil – minimal water and clearly this has the potential to be a 750 million to 1 billion barrel-plus structure that could lead to a 300m barrel contingent resource and hence at its current market cap of $270m, FAR`s 15 per cent interest is going to be worth an awful lot of money over time.

“This is not a one trick pony, they are putting down another well 20km from this well that is drilling as we speak and should see newsflow in November and that could add 300m barrels to the 300m contingent resource I talk about above. Fifteen per cent of a 600m barrel contingent resource with 15 per cent net to FAR is worth a lot more than the current stock price even if you put in $10 bucks per barrel.”

RCF Ambrian analyst Stuart Amor wrote: “We reiterate our speculative buy rating. We now estimate the stock’s fair value to be A21.1c, up from our previous A13.5c estimate.

“This oil discovery is fantastic (not a word we’ve been able to use to describe a well result in the last two years!) for FAR, albeit that the discovery is smaller than Cairn’s pre-drill estimate (817MMbbl).”

SBG Securities, a division of the Standard Bank Group, noted in a special report: “We have adjusted our valuation in light of the recent drilling results. Our risked equity value is up to A17c from A7c.

“Our estimate of the corresponding unrisked upside potential is A59c. At this stage, the stock has little core value support until a more robust independent assessment of the FAN-1 discovery is published. We maintain our buy rating with a revised target price of A15c up from A5c previously.”

1226


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## bigdog (16 October 2014)

*Share price between 12 and 13 cents for past five days*
*Date____	Close	Volume*
15/10/2014	0.130	22,473,636
14/10/2014	0.130	27,446,173
13/10/2014	0.120	29,783,472
10/10/2014	0.120	38,477,828
09/10/2014	0.120	40,448,103

The large trades in previous weeks was when FARJOY was buying large parcels and has now accumulated 10% of FAR.

The CAJUN EXPRESS oil platform remains in the same location which is encouraging IMHO!


http://www.reuters.com/article/2014/10/15/senegal-oil-blocks-idUSL6N0SA3IM20141015
*
UPDATE 1-Senegal to award two offshore oil licences by year-end -Petrosen*
Wed Oct 15, 2014 10:04am EDT

Oct 15 (Reuters) - Senegal will award exploration licences for two offshore oil blocks by the end of the year, the head of state-run hydrocarbons corporation Petrosen said on Wednesday.

The announcement comes days after Cairn Energy announced it had made an offshore oil discovery that Petrosen said was one of the biggest in Senegal's history.

"We already have proposals. We are evaluating the best for the state of Senegal," Petrosen Director General Mamadou Faye said of the two new northern offshore blocks.

Faye would not give the names of the firms who had shown interest in the new licences. He said Petrosen will look for funds to explore a third block for itself.

Firms have explored for oil offshore and onshore in Senegal for decades but none of the finds have been commercially viable.

Last week, Petrosen signed a $400 million "farm-in" agreement with Kosmos Energy for a 60 percent stake in the Cayar and St. Louis offshore blocks.

Cairn owns a 40 percent interest in three-block joint venture in which ConocoPhillips has 35 percent, FAR Ltd 15 percent and Petrosen 10 percent.

Speaking of Cairn's announcement last week, Faye said. "This is a real discovery. It is not fiction. It is one of the biggest oil finds ever in Senegal."

Cairn and Petrosen estimate the deep Sangomar offshore holds 250 million proven barrels and 2.5 billion probable barrels.

"Evaluations of the discovery are ongoing with the objective of determining the extent of deposit and elaborating a development plan for production," Faye said. (Reporting by Diadie Ba; Writing by Bate Felix; Editing by David Lewis and David Evans)

1442


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## bigdog (16 October 2014)

*Closed today     FAR    $0.135   $+0.005 +3.85% volume 24,757,679; trades 	565 	$3,257,206 and up 62.65% for the month*

http://www.reuters.com/article/2014/10/15/senegal-oil-blocks-idUSL6N0SA3IM20141015

*UPDATE 1-Senegal to award two offshore oil licences by year-end -Petrosen*

Oct 15 (Reuters) - Senegal will award exploration licences for two offshore oil blocks by the end of the year, the head of state-run hydrocarbons corporation Petrosen said on Wednesday.

The announcement comes days after Cairn Energy announced it had made an offshore oil discovery that Petrosen said was one of the biggest in Senegal's history.

"We already have proposals. We are evaluating the best for the state of Senegal," Petrosen Director General Mamadou Faye said of the two new northern offshore blocks.

Faye would not give the names of the firms who had shown interest in the new licences. He said Petrosen will look for funds to explore a third block for itself.

Firms have explored for oil offshore and onshore in Senegal for decades but none of the finds have been commercially viable.

Last week, Petrosen signed a $400 million "farm-in" agreement with Kosmos Energy for a 60 percent stake in the Cayar and St. Louis offshore blocks.

Cairn owns a 40 percent interest in three-block joint venture in which ConocoPhillips has 35 percent, FAR Ltd 15 percent and Petrosen 10 percent.

Speaking of Cairn's announcement last week, Faye said. "This is a real discovery. It is not fiction. It is one of the biggest oil finds ever in Senegal."

Cairn and Petrosen estimate the deep Sangomar offshore holds 250 million proven barrels and 2.5 billion probable barrels.

"Evaluations of the discovery are ongoing with the objective of determining the extent of deposit and elaborating a development plan for production," Faye said. (Reporting by Diadie Ba; Writing by Bate Felix; Editing by David Lewis and David Evans)

I hold and will not be selling yet!!



1498


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## bigdog (17 October 2014)

*ASX ANN Potential Capital Raising*

FAR 	9:21 AM 		*Trading Halt*
http://www.asx.com.au/asxpdf/20141017/pdf/42syx2z9pwpvh9.pdf

*Request for Trading Halt*
FAR Ltd (ASX: FAR) requests a trading halt in its securities effective immediately pending an announcement by FAR Ltd in relation to a potential equity raising:

In accordance with Listing Rule 17.1, FAR advises that it:
(a) is seeking the trading halt pending an announcement in relation to a potential equity raising;

(b) wishes the trading halt to last until the earlier of the time when the announcement is released or FAR Ltd requests the trading halt to cease, subject to the limit imposed by ASX Listing Rules; and

(c) is not aware of any reason why the trading halt should not be granted.

The securities of FAR Limited (the “Company”) will be placed in Trading Halt Session State at the request of the Company, pending the release of an announcement by the Company. Unless ASX decides otherwise, the securities will remain in Trading Halt Session State until the earlier of the commencement of normal trading on Tuesday, 21 October 2014 or when the announcement is released to the market.


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## bigdog (20 October 2014)

*Previous Close $0.135 and The trading halt can now be lifted after Capital Raising*

*	FAR $0.125 $-0.010 -7.41% @ Mon 20 Oct 2014 10:03 AM

FAR $0.130 $-0.005 -3.70% @ Mon 20 Oct 2014 10:08 AM 	 	 	 	 	 		*

ASX ANN
FAR 	9:27 AM 		*FAR strengthens cash position with $46.7m capital raising*
http://www.asx.com.au/asxpdf/20141020/pdf/42t0cn6c3g6vgs.pdf

20 October 2014
*FAR strengthens cash position with $46.7 million capital raising*
FAR Ltd (ASX: FAR) has completed a placement to institutional and sophisticated investors to raise $46.7 million before expenses by issuing 424,961,685 shares.


Oversubscribed placement to institutional and sophisticated investors
Cash fund Senegal drilling, working capital and new ventures
Cajun Express drill rig has mobilised to second well location, offshore Senegal

The capital raising follows the significant oil discovery in FAN-1, offshore Senegal with its partners Cairn Energy plc, ConocoPhillips and Petrosen.

The semi-submersible drilling unit "Cajun Express” used to drill the FAN-1 well has now mobilised to complete the second exploration well in the Senegalese drilling program, SNE-1.

Cath Norman FAR managing director said, “We won very strong support for this capital raising. Given the state of the market we are very pleased to have been oversubscribed with particularly strong support from Australian institutions and our existing shareholders.”

“The discovery of oil in FAN-1 and an extended period of unscheduled maintenance have resulted in an increase to the forecast cost of the Senegal drilling program that exceeds our funding cap for both wells. The additional funds raised will now allow us to complete this very exciting drilling program.”

“The discovery of oil in FAN-1 has gone some way to increasing the chance of success in the SNE-1 well so we eagerly await the results from this next well and hope to repeat the success of FAN-1. FAR also looks forward to advancing our other exploration ventures in Kenya, Guinea Bissau and Australia and embarking on new ventures.”

This capital raising leaves FAR with approximately A$85 million of cash and in a very strong position from which to complete our near term corporate objectives.”

The placement was arranged by Bell Potter Securities Limited as Sole Lead Manager.

The price per new share of 11 cents under the placement represents an 18.5% discount to the company’s latest market price on the ASX and a 10.3% discount to the 10 day volume weighted average price on the ASX.

Upon completion of the placement, the placement shares will represent approximately 13.6% of the enlarged share capital of the company, which will have 3,126,808,427 ordinary shares on issue. The placement shares, when issued, will rank equally in all respects with the existing ordinary shares. Application will be made to the ASX for the placement shares to be admitted to be quoted on the ASX. Settlement of the placement shares is expected to occur on Friday 24 October 2014 with normal trading to occur on Monday 27 October 2014.

The presentation used for capital raising purposes was the same as the October Investor Presentation released to the ASX on 14 October 2014.

This release is in relation to the matter referred to in the Company’s trading halt announcement of 17 October 2014. The trading halt can now be lifted.

1655


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## bigdog (31 October 2014)

*There have unusual share price transactions with lots of non retail trades with a decline in the SP during the week!*

http://files.the-group.net/library/cairnenergy/news_pdf/301014IMSFINAL.pdf

*30 October 2014
CAIRN ENERGY PLC (“Cairn” or “Company” or “Group”)
Interim Management Statement

refer page 3:

Operations

Exploration - Atlantic Margin - North West Africa

Senegal*
The recently completed basin opening FAN-1 well discovered oil offshore Senegal. Cairn has now re-entered the second well in the Senegal exploration programme, SNE-1, where the top hole had already been drilled. This second well targets the Shelf Edge Prospect which is a dual objective of stacked Cretaceous clastics and deeper karstified and fractured Lower Cretaceous shelf carbonates, in 1,100m water depth. The upper clastic objective is of similar age to oil bearing sands found in FAN-1. The two objectives in SNE-1 are estimated by Cairn to have a gross mean unrisked prospective resource of 182mmbbls and 256mmbbls respectively, and the well is anticipated to complete before the end of the year.

The first well FAN-1, drilled using the Cajun Express, discovered high quality, light oil in multiple stacked deepwater fans. Evaluation is now under way to calibrate the well with the existing 3D seismic in order to decide future activities and potential optimal follow up locations to determine the extent of the discovered resource and additional activity which is targeted for 2015 onwards.

*Preliminary analysis indicates:*

Ã˜ 29m of net oil bearing reservoir in Cretaceous sandstones
Ã˜ No water contact was encountered in a gross oil bearing interval of more than 500m
Ã˜ Distinct oils types ranging from 28 ° API up to 41 ° API indicated so far from a number of oil samples recovered to surface
Ã˜ Initial gross STOIIP estimates for the FAN-1 well range from P90: 250 mmbbls, P50: 950 mmbbls to P10: 2,500 mmbbls, broadly in line with pre-drill STOIIP estimates

1929


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## bigdog (7 November 2014)

*FAR 	9:33 AM	Trading Halt*
http://www.asx.com.au/asxpdf/20141107/pdf/42tkgpkkp0w295.pdf
The securities of FAR Limited (the “Company”) will be placed in Trading Halt Session State at the request of the Company, pending the release of an announcement by the Company.. 


*Request for Trading Halt
FAR Ltd (ASX: FAR) requests a trading halt in its securities effective immediately pending an announcement in relation to an update on the Senegal SNE-1 well results:*

In accordance with Listing Rule 17.1, FAR advises that it:
(a) is seeking the trading halt pending an announcement in relation to the Senegal SNE-1 well results;

(b) wishes the trading halt to last until the earlier of the time when the announcement is released or FAR Ltd requests the trading halt to cease, subject to the limit imposed by ASX Listing Rules and in any event no later than the commencement of trading on Tuesday, 11 November 2014; and

(c) is not aware of any reason why the trading halt should not be granted.

If you have any queries in relation to the above, please do not hesitate to contact me.

I hold and have tipped FAR

2159


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## Purd2 (7 November 2014)

BullsihBear said:


> This thread is hilarious, I find it fun some of you guys are ridding this P&D and it takes me back to the 90s.
> 
> Solid companies do not and never will pay for stock promotions. This companies product is mainly their own stock, sure you can make money on it but at least know the game you are in.
> 
> Still learning the Aussie market but thanks for the laugh by trying to pump it and make it seem legitimate, you're awesome.



Are you still laughing? Alot of my friends are....all the way to the bank.


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## bigdog (10 November 2014)

News many FAR holders have been waiting for!!

The market liked the ANN!!

* FAR     $0.135     $+0.036 +36.36% @ Mon 10 Nov 2014 10:03 AM*

*FAR 	9:29 AM 	Second signficant oil discovery offshore Senegal*
http://www.asx.com.au/asxpdf/20141110/pdf/42tlp7z7551tg5.pdf

10 November 2014 
*Second significant oil discovery offshore Senegal *
• Excellent quality reservoir sands with net oil pay of 36 metres 
• 95 metre gross oil bearing column with a gas cap 
• Oil of 32 ° API from samples of gas, oil and water recovered to surface 
• Preliminary estimates of the contingent resource* range from P90: 150 million barrels, P50: 330 million barrels and P10: 670 million barrels (mmbbls) 
• Preparing to drill ahead on SNE-1 well to the deeper Aptian carbonate target 

FAR Ltd (ASX: FAR) has made a second oil discovery offshore Senegal in West Africa in the SNE-1 well. 

The SNE-1 well has discovered a 95 metre gross oil bearing column with net oil pay zone thickness of 36 metres in Albian aged sandstones which display excellent reservoir potential. High quality 32 ° API oil has been recovered to the surface. 

The SNE-1 well is located in 1,100 metres (m) water depth, approximately 100 kilometres offshore in the Sangomar block with a target total depth of ~3,000 m. 

Notices of Discovery for the SNE-1 well and FAN-1 well have been issued to the Government of Senegal. 

FAR managing director, Cath Norman, said, 
“This is another very significant oil find for FAR and Senegal. Based on preliminary estimates it is highly likely to be a commercial discovery.” 

“The SNE-1 discovery is a company making event for FAR following our earlier oil discovery in the FAN-1 well. The SNE-1 discovery has potential to lead to a large stand-alone development and is an important step forward in establishing an entirely new petroleum province which would be transformational for Senegal.” 

“It is incredible that FAR has made two very important oil discoveries with its first two Senegal wells. We expect to resume drilling on the SNE-1 well shortly to evaluate the deeper Aptian carbonate objective.” 

“The FAN-1 well intersected a significant gross 500m oil-bearing section which indicates the presence of a prolific oil generating province. The SNE-1 well proves hydrocarbons have migrated up onto the shelf area which bodes well for the extensive suite of prospects yet to be drilled in our Senegal blocks.” 

“FAR looks forward to working with the Government of Senegal and our joint venture partners in finalising follow up appraisal and exploration drilling plans.“
Initial analysis of the SNE-1 well data indicates: 
• 95m gross oil bearing column with a gas cap 
• Excellent Albian reservoir sands with net oil pay of 36m 
• High quality oil of 32 ° API from samples of gas, oil and water recovered to surface 
• Operator’s preliminary estimates of the gross contingent resource* range from P90, 150 mmbbls, P50, 330 mmbbls and P10, 670 mmbbls (net to FAR; P90, 23 mmbbls, P50, 50 mmbbls, P10, 101 mmbbls)*. 

Further evaluation of this Albian objective is continuing. The deeper target of karstified and fractured Lower Cretaceous (Aptian age) shelf carbonates is yet to be reached. A further announcement will be issued once operations are completed on SNE-1 anticipated in late November. 

The first well FAN-1, drilled using the Cajun Express, discovered high quality, light oil in multiple stacked clastic reservoirs. 

The results of the FAN-1 well and the final analysis from the SNE-1 will be used to decide optimal follow up drilling locations to determine the extent of discovered accumulations and to evaluate the wider potential identified within the Joint Venture’s Senegal blocks. This additional activity is targeted to start in 2015.

2322


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## pixel (14 November 2014)

*By Request*
Special delivery from a little cat to a Big Dog 

Net Buying and Selling Brokers during the period 14 August to 14 November 2014.


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## pixel (18 November 2014)

Update for the month 13 Oct to 13 Nov

onliners bought




Multis sold


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## bigdog (18 November 2014)

pixel said:


> Update for the month 13 Oct to 13 Nov
> 
> onliners bought
> 
> Multis sold





What is the difference between the two files?

1. onliners bought

2. Multis sold


Many thanks Pixel
John


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## pixel (18 November 2014)

bigdog said:


> What is the difference between the two files?
> 
> 1. onliners bought
> 
> ...




The sort order: first snapshot has been sorted by Net Value *DE*scending, second one same but *AS*cending


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## bigdog (19 November 2014)

Not good news!!

http://www.cairnenergy.com/index.asp?pageid=27&newsid=465

*Senegal drilling programme completed*

19 November, 2014

Cairn and its Joint Venture (JV) partners have completed operations on the SNE-1 well in Senegal and plans are now underway to appraise the discovery next year.

Having discovered oil in the upper clastic target, no hydrocarbons were subsequently encountered in the deeper target of karstified and fractured Lower Cretaceous shelf carbonates.  Following completion of logging operations the well will be plugged and abandoned.

The SNE-1 well located in 1,100 metres (m) water depth and approximately 100 kilometres (km) offshore in the Sangomar Offshore block was drilled to a total depth of ~3,000m.

Cairn has a 40% Working Interest (WI) in three blocks offshore Senegal (Sangomar Deep, Sangomar Offshore and Rufisque) ConocoPhillips has 35% WI, FAR Ltd 15% WI and Petrosen, the national oil company of Senegal 10%.  The three blocks cover 7,490 km².


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## vxleather (19 November 2014)

Bigdog... really!!!

Have you forgotten about the last 2 (TWO) ann: Oil discovered in not one but 2 holes... If they found oil at the bottom that was just a extra... the money has been found, now we just need to hear the final results and the words   (100% Commercial)


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## bigdog (20 November 2014)

vxleather said:


> Bigdog... really!!!
> 
> Have you forgotten about the last 2 (TWO) ann: Oil discovered in not one but 2 holes... If they found oil at the bottom that was just a extra... the money has been found, now we just need to hear the final results and the words   (100% Commercial)




VX - yes I agree with your statement


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## bigdog (20 November 2014)

*"Both the FAN-1 and SNE-1 wells have made discoveries, each of which has the potential to be a large, stand-alone commercial development."*


FAR 	9:05 AM 		*Successful Senegal drilling program completed*
http://www.asx.com.au/asxpdf/20141120/pdf/42tv8mhhbylz7r.pdf

20 November 2014 
*Successful Senegal drilling program completed *
• Two significant oil discoveries in the drilling program 
• Both wells declared oil discoveries 
• Preparing to plug SNE-1 well prior to rig being released 
• Following the significant oil discovery in shallower Albian objective of SNE-1, no hydrocarbons encountered in deeper carbonate target 
• Planning for an appraisal program to evaluate the two discoveries is underway 

FAR Ltd (ASX: FAR) and its Joint Venture (JV) partners have completed drilling operations on the SNE-1 well in Senegal and plans are now underway to appraise the discovery. 

Having discovered oil in the upper Albian sandstone target, no hydrocarbons were subsequently encountered in the deeper target of karstified and fractured Lower Cretaceous shelf carbonates. Following completion of logging operations the well will be plugged and abandoned as planned. 

FAR Managing Director, Cath Norman, said, 

_“We have now completed drilling in what has been a monumental drilling campaign for FAR. Both the FAN-1 and SNE-1 wells have made discoveries, each of which has the potential to be a large, stand-alone commercial development. These oil discoveries are an important step forward in establishing an entirely new petroleum province which will be transformational for Senegal.” 

“The enormous success of the upper sandstone objective in the SNE-1 well is substantially in excess of our pre-drill volume expectations and has more than compensated for the lack of hydrocarbons in the lower, carbonate target. Further, the excellent reservoir properties in the Albian sandstones bode well for an appraisal program and progressing towards a commercial development project.” 

“FAR looks forward to working with the Government of Senegal and our joint venture partners in finalising follow up appraisal and exploration drilling plans.“ _

The SNE-1 well located in 1,100 metres (m) water depth and approximately 100 kilometres (km) offshore in the Sangomar Offshore block was drilled to a total depth of ~3,000m. 

The SNE-1 well has discovered a 95m gross oil bearing column with net oil pay zone thickness of 36m in Albian aged sandstones which display excellent reservoir potential. High quality 32o API oil has been recovered to the surface. Operator’s preliminary estimates of the contingent resources* range from P90: 150 million barrels (mmbbls), P50: 330mmbbls and P10: 670mmbbls. 

This well followed the FAN-1 well which was also a discovery well, encountering a 500m gross oil interval with a net pay of 29m of oil. Oil samples ranged from 28o to 42o API were also recovered to surface.

*About the drilling program in Senegal *
The FAN-1 and SNE-1 wells are the first deep water (>1,000m) wells drilled in Senegalese waters and the first offshore wells to be drilled for over 20 years. 

Both FAN-1 and SNE-1 have significant follow-up drilling potential in the event of a discovery. FAR’s three contiguous Senegalese blocks – Rufisque Offshore, Sangomar Offshore and Sangomar Offshore Profond – cover 7,490km². 

From 2,050km² of modern 3D seismic data acquired in the blocks, FAR has mapped 11 potentially drillable prospects as well as numerous other leads, many supported by associated seismic amplitude responses in plays including the ‘fan’ and ‘shelf’. 

In February 2013 FAR assessed its Senegal blocks to have prospective resources of 3.585 billion barrels of oil (538 million net to FAR)* (reference: ASX release 27/02/2013). 

FAR retains a 15% working interest in the permits and Cairn Energy, ConocoPhillips and Petrosen (the Senegalese National Oil Company) hold 40%, 35% and 10% respectively. Petrosen’s interest is carried interest through this exploration phase.

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## Wysiwyg (6 March 2015)

The always-on-time BD would have noted that FAR will be an addition to the S&P/ASX 300 as of 20th March? Apart from a multiplication of share price, FAR must have done something right to be rated by the agency.


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## bigdog (11 March 2015)

Great news for FAR holders

FAR to be included in ASX 300 effective after closing March 20 2015


http://www.theafricareport.com/West-Africa/senegal-cairn-increases-oil-exploration-budget.html

* Senegal: Cairn increases oil exploration budget*
By Karolin Schaps

Oil explorer Cairn Energy has bucked the industry trend by announcing an increase to its exploration budget for this year to drill more wells in Senegal where it made some promising discoveries last year.

Oil companies have slashed exploration budgets this year to focus on projects that offer more immediate returns as a steep fall in oil prices since mid-2014 has tightened profit margins.

We all recognise that (the Senegal) discoveries, in the longer term, are potentially transformational for Senegal as a country

Yet Cairn announced a $75 million increase to its 2015 exploration budget set at $185 million, $135 million of which will go to its West African projects.

"We all recognise that (the Senegal) discoveries, in the longer term, are potentially transformational for Senegal as a country, as well as for Cairn," said Chief Executive Simon Thomson in a statement.

The company said it planned to drill at least three more wells offshore Senegal this year.

"The key value driver in 2015 will be the $95 million to be spent on a 3-well follow-up campaign offshore Senegal to begin in 2015," said analysts at Jefferies who rate Cairn a "buy".

The company, which currently has no revenue as it focuses purely on exploration, managed to reduce losses after tax in 2014 to $381 million from a loss of $556 million a year earlier.

Cairn said its net cash balance stood at $869 million at the end of 2014, putting it in a solid financial position ahead of expected first oil sales from its Kraken and Catcher North Sea projects in 2017.

Cairn has been unable to sell a 10 percent share it holds in Cairn India which was worth around $703 million at the end of last year. 


*CNE website*
Atlantic Margin - Senegal

    FAN-1 discovered high quality, light oil in multiple stacked deepwater fans, SNE-1 discovered high quality oil in the upper clastic target of the Shelf Edge prospect; Senegal evaluation plan to be submitted by Joint Venture (JV), Cairn Operator 40% Working Interest (WI), Q2 2015

    Preliminary estimates of the gross Contingent Resource for SNE-1: P50, 330 mmbbls recoverable. Initial gross STOIIP estimates for the FAN-1 well: P50, 950 mmbbls. Resource estimates confirmed by ERC Equipoise Ltd audit

    Based on early evaluation, a programme of three firm and three optional exploration and appraisal wells is envisaged to begin in 2015

    Capital Markets Day on Senegal on 11 May 2015

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## bigdog (11 May 2015)

*ASX issued after todays close!!*
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01624247
*FAR 	4:58 PM 	 	Senegal project update released by Cairn Energy*


*Cairn Share Price @ 10:23:02 today   190.50 pence		Change: +3.10 (+1.65%)*

http://files.the-group.net/library/cairnenergy/news_pdf/110515CapitalMarketsDayfinal.pdf

*Cairn Announcement*
11 May 2015 
*CAIRN ENERGY PLC (“Cairn” or “the Company”) 
Cairn Capital Markets Day to outline evaluation plan submitted to Government of Senegal *

Cairn and its joint venture partners have submitted a three year evaluation work plan to the Government of Senegal including an initial programme of three firm and three optional exploration and appraisal wells, with drilling starting in Q4 2015 in Cairn’s new basin play offshore Senegal focused on the acreage around the SNE-1 discovery well. Cairn estimates that the existing two discoveries and the currently identified prospects and leads have an estimated mean risked resource base of more than a billion barrels. 

The Ocean Rig Athena, a 7th generation dual activity drillship has been selected for the drilling programme. The rig is currently contracted to ConocoPhillips in Angola. Cairn is in the final stages of working with its joint venture partners to finalise the rig contract and associated support services, which are being tendered to secure current market pricing. 

The firm three well programme is currently planned to include two appraisal wells of the SNE-1 discovery which will core and test the reservoir, as well as one shelf exploration well. There will also be a 2,000km² 3D seismic data acquisition campaign over the Sangomar and Rufisque blocks to help fully map the prospectivity of the contract area. 

A work programme and budget for the three optional wells will be presented to joint venture partners in Q3 2015. Targets for these wells will be drawn from a combination of further evaluation of the SNE-1 discovery, additional exploration in the shelf region, and exploration in the acreage around FAN-1. Drilling plans for these wells will be subject to ongoing FAN studies and the results of the first three firm wells. 

Cairn believes there is substantial prospectivity across all three of its blocks and to date at least five prospects and eighteen leads have been identified and continue to be matured to drillable status. 
Cairn is hosting a Capital Markets Day presentation on its operations in Senegal today in London for sell-side analysts and institutional shareholders. 

*Simon Thomson, Chief Executive of Cairn Energy PLC said:*
“Cairn made two significant discoveries offshore Senegal in 2014 proving a hydrocarbon system in a new and emerging Atlantic Margin Basin. We are excited about the exploration and appraisal opportunity of this world class asset. We have now submitted a three year evaluation work plan to the Government of Senegal which is designed to lay the foundation for a long term multi-field, multi phase exploitation plan.
Our focus will be to add value in Senegal within a balanced, well funded company. We are well placed to take advantage of this exciting opportunity as we build on the success of last year.”

The Production Sharing Contract in place with the Government of Senegal covers an area of ~7000km² and consists of three blocks in Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore. The JV consists of Cairn as Operator (40% Working interest (WI)), ConocoPhillips (35% WI), FAR (15% WI) and Petrosen (10% WI).

Cairn Energy PLC (”Cairn”) is one of Europe's leading independent oil and gas exploration and development companies and is listed on the London Stock Exchange. Cairn has discovered and developed oil and gas reserves in a variety of locations around the world.

Cairn’s business operations are now focused on frontier exploration acreage in North West Europe, North West Africa, North Atlantic and Mediterranean, underpinned by interests in development assets in the North Sea. Cairn has its headquarters in Edinburgh, Scotland supported by operational offices in London, Norway and Senegal.

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## bigdog (12 May 2015)

*The market did not like yesterdays ASX Announcement re 	Senegal project update released by Cairn Energy*

*    FAR     $0.098     $-0.007 -6.67% @ Tue 12 May 2015 10:45 AM*


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## bigdog (17 August 2015)

The share price had been very disappointing for paste few months - refer chart
-- hoping for better news with new wells to be drilled by Cairn Energy commencing shortly

*Week Ahead: Cairn Energy second half could be transformational*

06:29 16 Aug 2015
Deutsche Bank said the timing and drilling locations for three wells in Senegal could be unveiled. While they are in deep waters off the coast of west Africa, they aren’t technically challenging. 

Cairn energy is in the spotlight...

Deutsche Bank previewed next Tuesday’s interims from Cairn Energy (LON:CNE) – though the numbers are likely to play second-fiddle to an update on its exploration plans.

As Deutsche points out, the second-half-weighted programme could be transformational.

It said the timing and drilling locations for three wells in Senegal could be unveiled. While they are in deep waters off the coast of west Africa, they aren’t technically challenging, the broker says.

In fact each could be drilled in as little as 40 days. The work will help give a more accurate resource estimate. Currently, experts say the discovery could contain anywhere from 155-670mln barrels of oil.

Deutsche is also expecting a little more ‘visibility’ on the £1bn (US$1.6bn) tax dispute with Indian authorities that continues to rumble on in the background.

Financially, the bank’s analysts reckons Cairn has been in cash preservation mode, and estimates it has around £750mln on the balance sheet – the equivalent to half its current market capitalisation.

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## bigdog (19 August 2015)

http://www.bbc.com/news/uk-scotland-scotland-business-33973913

*Cairn Energy cleared to start Senegal drilling operations*

    18 August 2015
    From the section Scotland business 


Oil and gas explorer Cairn Energy has been given the green light to press ahead with a major drilling programme off Senegal in West Africa.

The company said it had been cleared by government officials in Senegal to launch an evaluation plan.

Cairn, which made two discoveries in the area last year, estimated fields there could contain more than a billion barrels of oil.

Its evaluation plan will start shortly with a 3D seismic survey.

Later this year it aims to launch a multi-well exploration and appraisal programme.

Edinburgh-based Cairn has a 40% interest in three blocks offshore Senegal (Sangomar Deep, Sangomar Offshore, Rufisque Offshore).

Its partners include ConocoPhillips (35%) and FAR Ltd (15%), with Petrosen, the Senegal National Oil Company, retaining a 10% interest in the exploration phase.

*Tax row*

In its latest half-yearly report, Cairn also said that it had started international arbitration proceedings with the government of India over a tax row.

Cairn has been prevented by Indian authorities from accessing the value of its 10% residual shareholding in Cairn India Limited (CIL).

In March, the company received a tax bill for $1.6bn plus interest and penalties, covering the tax year 2006-07, when it was preparing to float Cairn India on the Mumbai stock exchange.

Cairn has contested the bill and plans to seek restitution for losses resulting from the falling value of its stake in CIL.

Due to the lower oil price, its value has dropped from $1bn in December 2013 to $526m, as at 30 June this year.

The lower valuation saw Cairn book a $177.1m impairment loss in its first half, as it reported a post-tax loss of $230m - up from $62m a year ago.

The company generates no revenue because its focus is exploration work.

However, at the end of the first half, Cairn reported a cash balance of $725m.

Cairn's share price was down by about 5% on Tuesday morning.

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## bigdog (9 October 2015)

* Senegal Drilling Video*

In this video update FAR Limited Managing Director, Catherine Norman, explains the company’s upcoming appraisal/exploration drilling program in its offshore Senegal permits.

FAR and its joint venture partners in Senegal is expecting to start appraisal drilling on the world class SNE discovery in the coming weeks. The three wells in the firm drilling program will be drilled using the ConocoPhillips contracted drillship Ocean Rig Athena.

Two wells will be drilled to appraise the SNE field and are aimed at proving the threshold economic field size which the Operator announced is >= 200 mmbbls for a foundation project.

This video can be viewed on the company’s website

Published on Oct 7, 2015
FAR Ltd to begin drilling offshore Senegal.
https://youtu.be/U7QwQsdBN3I?list=PL1hLTMLSBRaIrrT2ilkCUpc6oPIHlUox4

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## bigdog (14 October 2015)

ASX Announcement today

*FAR 	14/10/2015 	1:04:42 PM 	Ocean Rig Athena drilling contracts executed for Senegal *
http://www.asx.com.au/asxpdf/20151014/pdf/43225l164pc0s8.pdf

Ocean Rig Athena drilling contracts executed for offshore Senegal
● Drill rig contracts executed for Senegal evaluation program
● ConocoPhillips managing drilling operations
● Drilling expected to commence late October

FAR Limited (‘FAR’) and its Senegal joint venture partners have executed contracts for the use of the Ocean Rig Athena drillship for a drilling program in FAR’s highly prospective offshore Senegal Blocks starting in the coming weeks. The Ocean Rig Athena is under long term contract with ConocoPhillips and the ConocoPhillips drilling organisation will play a key role in project managing the drilling program.
The drillship is currently in Angola and FAR expects it will commence mobilisation to Senegal in the next few days.

The firm drilling program includes three wells including two appraisal wells on the world class SNE-1 oil discovery that will include a coring and testing program, plus one shelf exploration well to further evaluate the shelf area prospectivity. This drilling, logging, coring and testing program is expected to be completed by mid-2016.

The first two wells (SNE-2 and SNE-3 and as shown in Figure 2) will be drilled to appraise the SNE field and are aimed at progressing towards proving the threshold economic field size which FAR estimates is in the order of 200 mmbbls for a foundation project.

The third well in the drilling program will be the first exploration well to be drilled in the blocks following the discoveries in the FAN-1 and SNE-1 wells. This well will be aimed at building the resource base within tie-back range of a possible future hub development over the SNE field. It will be drilled into the Bellatrix Prospect which has been mapped by FAR to contain 168 mmbbls* of oil on a gross, unrisked, prospective resource basis (refer ASX release 13 April 2015) with 25 mmbbls net to FAR. 

Following the discovery of the SNE field on the shelf, FAR has applied a 49% chance of geological success to the Bellatrix prospect and notes that the Operator has applied an 80% chance of geological success to the prospect (see Cairn Energy release 12 May 2015). FAR is encouraged by the presence of a strong seismic amplitude anomaly over the Bellatrix prospect that exists over the SNE field which is a strong indicator of the presence of hydrocarbons.

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## bigdog (23 October 2015)

*23/10/2015 	Placement and Underwritten Entitlement Offer to raise $40m *
http://www.asx.com.au/asxpdf/20151023/pdf/4329y8hxgbh9bx.pdf

* 23 October 2015 
Placement and Underwritten Entitlement Offer to raise $40 million *

*Overview *
• FAR is raising approximately $40 million through an Equity Raising comprising a: 
o Placement of fully paid ordinary shares to raise approximately $25 million, and 
o 1 for 17 underwritten pro-rata non-renounceable entitlement offer of fully paid ordinary shares to existing eligible shareholders to raise approximately $15 million. 
• Offer price of $0.08 (8 cents) per share represents an 11.1% discount to the last traded price of FAR shares and a 9.8% discount to the theoretical ex-rights price (TERP). 
• Funds raised will be primarily used to support FAR’s capital expenditure on its large Senegalese oil discovery including: 
o 2 appraisal wells on the SNE field, and 
o 1 exploration well at Bellatrix that also overlies the SNE field. 

FAR Limited (ASX: FAR) (FAR) has announced that it is raising approximately $40 million through a placement of fully paid ordinary shares to investors (Placement) and a pro-rata non-renounceable 1 for 17 entitlement offer of fully paid ordinary shares (New Shares) in FAR to existing eligible shareholders (Entitlement Offer) (together, the Equity Raising). 

The Equity Raising is joint lead managed by Royal Bank of Canada (trading as RBC Capital Markets) and Bell Potter Securities Limited (Joint Lead Managers). The Joint Lead Managers have also agreed to underwrite the Entitlement Offer. 

Funds raised from the Equity Raising (after costs) will be primarily used to fund FAR’s capital expenditure on its large Senegalese oil discovery including 2 appraisal wells on its SNE discovery in Senegal and a shelf exploration well in Senegal (Bellatrix). 

*About the Placement *
FAR has successfully made a placement of new ordinary shares to certain institutional investors at the issue price of A$0.08 (8 cents) per share to raise approximately A$25 million. It is expected that approximately 312,500,000 fully paid ordinary shares will be issued as part of the Placement. 
Shareholders will not be eligible to participate in the Entitlement Offer in respect of any shares issued to them under the Placement. 

*About the Entitlement Offer *
The offer price for the Entitlement Offer is $0.08 (8 cents) per New Share (Offer Price). Under the Entitlement Offer, eligible shareholders will be able to subscribe for 1 New Share for every 17 existing fully paid ordinary shares held at 7.00 pm (Melbourne time) on Thursday, 29 October 2015 (Record Date) at the Offer Price.

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## bigdog (19 January 2016)

*8:56 AM 	 	Senegal Drilling Update - SNE-3 starts drilling*
http://www.asx.com.au/asxpdf/20160119/pdf/434g2fw074l8kh.pdf

19 January 2016
*Senegal Drilling Update: SNE -3 starts drilling*

The second appraisal well to be drilled on the SNE oil field, 100km offshore Senegal, has been re-entered and will now be drilled to planned total depth. The SNE-3 well, located approximately 3km south of the initial SNE-1 discovery well, will further evaluate the potential of the world-class SNE oil field.

The SNE-3 well follows the successful first appraisal well at SNE-2 (refer ASX announcement 4 January 2016). SNE-2 successfully flowed oil at 8,000 bbls per day constrained and estimated at over 10,000 bbls per day on an unconstrained basis. SNE-2 appears to have the same high quality 32 degree API oil seen in SNE-1.

The oil flows from the SNE-2 drill stem testing (DST) were important in demonstrating that the SNE field is a world class oil discovery with the ability to flow oil at commercially viable rates as well as highlighting the potential of the upper "heterolithic" reservoir units to make a material contribution to SNE resource and production volumes. This positive result has helped confirm the overall scale and extent of the SNE resource base and is expected to support a future revision of the SNE resource estimates.

The SNE-3 well will be drilled in approximately 1,180m of water to a total vertical depth sub-sea (TVDSS) of approximately 2,782m and is expected to include an extensive evaluation program involving coring, logging and flow testing.

SNE-3 was previously drilled to a depth of 1,755 metres by the Ocean Rig Athena prior to the spud of SNE-2 (refer ASX announcement 2 November 2015). FAR expects SNE-3 to reach TD after re-commencement of drilling and after the completion of coring in the latter part of next month. It is expected wireline logs will then be run followed by a drill stem testing (DST) program.

A key aim of the SNE appraisal program is to progress towards proving a minimum economic field size for the SNE discovery, which FAR estimates to be approximately 200 million barrels of recoverable oil as well as determining flow rates for the planning of a future development. In addition, the BEL-1 well, which will evaluate the untested Buried Hills play to test the Bellatrix exploration prospect, will also appraise the northern portion of the SNE oil field (refer Figures 1, 2). BEL-1 will be drilled after completion of SNE-3.

Senegal JV partners: Cairn Energy PLC (Operator) 40%, ConocoPhillips 35%, FAR 15% and Petrosen 10%.

----------------------------------------------------------------------------------------------
With the low price for oil, the FAR share price has been disappointing!!

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## bigdog (11 February 2016)

*Oil price, Tullow, Circle, Sound, Far Limited, Sundry-Chesapeake- And finally...*

http://www.oilvoice.com/n/Oil-price...undryChesapeake-And-finally/3ae0fe2a5894.aspx

Extract article related to FAR LImited

Malcolm Graham-Wood
from Malcy's Blog
Wednesday, February 10, 2016
*
Far Limited*

I had the opportunity yesterday to catch up with Cath Norman and Gordon Ramsay of Far Limited, appropriately after their recent announcement. That stated that they had increased 2C contingent resources in Senegal by 42% to 468m barrels and that is not including the current appraisal programme. The programme should almost certainly deliver more good news as SNE-2 had a successful flow test that was choked back and might have been more, indeed the thin sands above the reservoir may be crucial to confirming deliverability. The JV is currently preparing for a DST of SNE-3 which bodes well for the process and a good flow rate here would be further good news. Even better is that at present, the drilling programme is 28 days ahead of schedule and one couldnt rule out that at $1m a day there may be an opportunity for an effective 'free' 4th well. After that it remains to wait for the declaration of commerciality which can't be far away.

Far is funded for all this and whilst one wouldnt want to jump the gun there is enough optimism in the already released figures to make a confident prediction that Senegal will deliver what IHS/CERA described as a 'world class discovery' and is likely the biggest oil find in recent years. Whilst some are playing Senegal through Cairn I have always been tempted to use Far as the vehicle, if you compare the existing finds and the estimated upside potential, it dwarfs the market cap of around A$250m, this is as close to a no-brainer as it is possible to get and is a lock away in my view even in current market conditions.

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## bigdog (9 March 2016)

FAR 	6:23 PM 	Senegal Drilling Update - Successful SNE-3 flow test results
http://www.asx.com.au/asxpdf/20160309/pdf/435qbchd8qt08k.pdf

FAR share price has been on the rise during the past week!

9 March 2016 
*Senegal Drilling Update: Successful SNE-3 flow test results *
Successful completion of the SNE-3 appraisal well has demonstrated the ability of SNE field upper reservoir units to flow at commercially viable rates and make a material contribution to oil volumes. 

Two drill stem tests (DST) have confirmed the deliverability of the upper reservoir units: 
• A gross 15m zone flowed at a maximum rate of 5,400 barrels of oil per day (bopd) and a stabilised main flow rate of 4,000 bopd (56/64” choke). 

• An additional 5.5m zone was added to the first flow and produced at a combined stabilised flow rate of 4,500 bopd (56/64” choke). 

The SNE-3 appraisal well offshore Senegal has been successfully tested and operations have been safely completed following drilling, coring, logging and drill-stem testing (DST). 

Flow rates recorded were equipment constrained and exceeded FAR pre-drill expectations. 
The tests have confirmed excellent reservoir quality and correlation between SNE-1, SNE-2 and SNE-3. 

The SNE-3 results are expected to support a further upgrade of SNE field resource estimates. 
The well has been completed ahead of schedule and analysis of the extensive dataset collected is continuing with initial results as follows: 
• Two drill stem tests (DST) were conducted within the upper reservoirs, confirming the deliverability of these units. The first DST, from a 15m zone, flowed at a maximum rate of 5,400 bopd and delivered a stabilised flow of 4,000 bopd over a 24 hour period. For the second DST, an additional zone of 5.5m was opened up and combined with the 15m zone to deliver a stabilised flow rate of 4,500 bopd over a six hour period. Both flow tests used a 56/64” choke. 
• Confirmation of excellent reservoir quality and good correlation of the principal reservoir units between SNE-1, SNE-2 and SNE-3. 
• 144m of continuous core was taken across the entire reservoir interval with 100% recovery. 
• Gross oil column thickness at SNE-3 confirmed at 101m gross, showing a similar oil-down-to and oil–up-to depth as seen at SNE-2 of 103m gross and at SNE-1 of 96m gross. 
• Initial data confirms the same 32 degree API oil quality as seen in SNE-1 and SNE-2. 
• Reservoir units were intersected shallower to prognosis (higher than expected on the structure) suggesting the southern flank of the oil field is more extensive than initially prognosed and will extend further to the south than previously mapped. 

This positive result from the SNE-3 well has further confirmed the overall scale and extent of the SNE field resource and demonstrated the ability of the upper reservoir units to flow at commercially viable rates and make a material contribution to SNE oil resource volumes. The SNE-3 results are also expected to support a future revision of the SNE resource estimates.

SNE-3 flow tested a limited zone within the extensive upper reservoir units and SNE-2 included a flow test of the thicker, lower reservoir unit

SNE-3 is the second SNE oil field appraisal well to be drilled in this three well campaign. It is located in the Senegal  Sangomar  Deep Offshore Block approximately 3km south of the initial SNE-1 discovery well.

SNE-3 was initially “top hole” drilled to a depth of 1,755 metres by the Ocean Rig Athena prior to the spud of the SNE-2 well (Refer: ASX announcement 2 November 2015). After completion of SNE-2, the Ocean Rig Athena returned to the SNE-3 location and began re-drilling the well on 18 January 2016. SNE-3 began its coring program on 26 January 2016 and reached its planned total depth of 2,807m TVD on 31 January 2016. 

A key aim of the SNE appraisal drilling program is to progress towards proving a minimum economic field size for the SNE discovery, which FAR estimates to be approximately 200 million barrels of recoverable oil, as well as determining flow rates and connectivity of the reservoirs across the field for the planning of a future development. Flow test results at both SNE-2 and SNE-3 have demonstrated that multiple reservoirs within the SNE field are capable of flowing at commercially viable flow rates and hence, in FAR’s view, this objective of the current three well appraisal drilling program has been met. 

Gauges have been set in the SNE-3 well so that the well may be used for interference testing in the future. The well has now been plugged and abandoned as planned before the rig mobilises to the BEL-1 location. BEL-1 will be the third well in the firm three well program and will be drilled to evaluate the untested Buried Hills play by drilling the Bellatrix exploration prospect that lies above the SNE field. The BEL-1 well will also be deepened to appraise the northern flank of the SNE oil field Senegal PSC partners: Cairn Energy plc (Operator) 40%, ConocoPhillips 35%, FAR 15%, Petrosen 10%.

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## bigdog (13 April 2016)

*FAR 	9:04 AM 	 	Trading Halt*
http://www.asx.com.au/asxpdf/20160413/pdf/436h0rzf2pvpgd.pdf

*The FAR management do not treat their shareholders well and usually offload the new shares at VG discount to institutional and sophisticated investors*


ASX Compliance Pty Ltd 
Level 4, North Tower, 
525 Collins Street 
Melbourne VIC 3000 
Dear Kobe, 
*Request for Trading Halt *
FAR Ltd (ASX: FAR) requests a trading halt in its securities effective immediately pending an announcement by FAR Ltd in relation to a proposed equity raising In accordance with Listing Rule 17.1, FAR advises that it: 

(a) is seeking the trading halt pending an announcement in relation to a proposed equity raising; 
(b) wishes the trading halt to last until the earlier of the commencement of trading on Friday 15 April 2016 or the time when the announcement is released; and 
(c) is not aware of any reason why the trading halt should not be granted.


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## PZ99 (27 April 2018)

This stock is doing stratospheric things at 9.5c - well above its yearly highs.

Just touched 9.9c for a sec... NAB has a target of 12c +


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## bigdog (8 May 2018)

FAR
$0.099
+$0.003 (3.13%)
Tue 08 May 2018 3:32 PM (Sydney time


*Motley fool reports*
Another small cap worth keeping an eye on is *FAR Ltd* (ASX: FAR). This is one of Credit Suisse’s favourite picks in the oil and gas sector as FAR is closing in on its next catalyst.

The field evaluation report for its SNE project is expected to be handed into the Senegal government by the end of June, which will pave the way for FAR to achieve a number of other value-adding milestones over the next 12-months as it advances its joint-venture oil project in that country.

“We expect the Evaluation Report should see alignment from the JV on scale (assumedly ~100kbbl/d plateau rate), capex, resource size, etc., with FAR indicating capex may ultimately be 25% lower than previous estimates,” said Credit Suisse.

FAR should have a good pipeline of positive news and is also leveraged to the bullish outlook for oil prices. The broker has an “outperform” rating on the stock with a price target of $0.14 a share.

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## greggles (14 June 2018)

FAR is looking like a potential breakout to me at this point. 10c has been an important level of resistance for a number of years and FAR is attacking it again today. It has reached a high of 10.5c but the move north needs a little more conviction as there are a lot of sellers between 10.5c-12c.

One to watch.


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## bigdog (29 June 2018)

*BELL POTTER REPORT TODAY*

ANALYST STOCK PICKS FOR FY19.
13

RESOURCES
. Peter Arden

FAR (FAR)

FAR currently has a 15% interest in several major oil discoveries it has made in offshore Senegal that are economically attractive and now about to enter the development phase. With 2C Resources of 641 million barrels (Mbbls) (recoverable), the SNE field is still one of the largest oil discoveries in the last four years and along with the nearby FAN discovery (with 2C Resources of 198Mbbls) is nearing a development decision in early 2019.

FAR has also been very active in the adjoining areas, where it is Operator and is farming down to a 40% interest in Blocks A2 and A5 in The Gambia, close to and in the same geological play as the SNE field. FAR has identified the Samo Prospect in these blocks containing P50 Prospective
Resources (best estimate) of 825Mbbls that will be drilled by a well in late 2018 under a favourable farm-out arrangement with global oil major, PETRONAS.

*Speculative Buy, Valuation $0.26/sh.

https://www.livewiremarkets.com/wires/bell-potter-analyst-outlook-top-stock-picks-for-fy19*

*3386*


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## greggles (20 July 2018)

Breakout for FAR? 

At 12.5c FAR is at highs not seen since 2014. No apparent catalyst for today's move but it's on high volume and after approximately a month of consolidation in a tight range between 10.5c and 11.5c.


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## barney (20 July 2018)

greggles said:


> FAR is *looking like a potential breakout* to me at this point.
> One to watch.
> 
> View attachment 87811




Good call again back in mid June Greg …… Hope you had a little on it


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## greggles (20 July 2018)

barney said:


> Good call again back in mid June Greg …… Hope you had a little on it



Sadly I didn't barney. I wish I had enough capital for each potential trade I see. Although you do have to be careful. As they say, hindsight is 20/20 and what looks like a good trading opportunity at the time may not necessarily turn out to be so.

In this case it did, but I've had a lot of other potentials go the wrong way.


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## Wyatt (23 October 2018)

FAR is at an interesting juncture right now. Announcement today about spud of the new exploration well Samo1 with a large potential OIIP and 50% chance of success, from memory the recent nearby wells all found oil and who doesn't like a risky oil play when the bourse may be on the fritz.
Some may say a reasonable looking chart. We'll find out by years end.


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## barney (24 October 2018)

Wyatt said:


> FAR is at an interesting juncture right now. Announcement today about spud of the new exploration well Samo1 with a large potential OIIP and 50% chance of success, from memory the recent nearby wells all found oil and who doesn't like a risky oil play when the bourse may be on the fritz.




SNE has had 100% strike rate and looks huge … but with the phased development, no oil and gas production till 2022 unfortunately.

Samo also looks to have great potential …. FAR have just under $50 million in the bank so plenty of cash to keep things together ..... 

Only mild negative is the POO looks to be forming a ranging top over the last few months …. maybe "Oilers" in general might tread water for a while until that resolves one way or another??


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## Miner (25 October 2018)

FAR is ready to fly
https://www.asx.com.au/asxpdf/20181023/pdf/43zj284s57bdnt.pdf
It is ticking all the boxes as already sounded by Barney, Greg and Wyatt .
My gut feeling is some operators are manipulating the stock to depress and buying slowly .
I have put my tip for November with a hope by end of November /early December FAR holders will very happy (me too )


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## Wyatt (1 November 2018)

FAR getting a bit of interest today. A bit of extra info in link.


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## barney (1 November 2018)

High Volume day today as well ….. If the Volume continues and it breaks the recent 14 cent high it could be game on … especially considering the POO is still treading water and looks ripe for a turn off the current lows ….


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## Miner (2 November 2018)

barney said:


> High Volume day today as well ….. If the Volume continues and it breaks the recent 14 cent high it could be game on … especially considering the POO is still treading water and looks ripe for a turn off the current lows ….



Hi Barney
Probably ASX will send a speeding ticket in the morning as share volume is far and beyond the normal level. One reputed expert through his newsletter has been batting for  FAR for sometimes so maybe there is some truth on that. I do hold and not complaining at all


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## bigdog (9 November 2018)

Bad ASX Announcement for FAR holders





*9/11/2018 9:15:55 AM  Samo-1 well unsuccessful






5633*


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## Miner (9 November 2018)

Far broken


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## PZ99 (9 November 2018)

Condolences to holders. It's tempting to re-enter on the back of this duster, need to do more research on the likelihood of a CR prior to the SNE deal.


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## Miner (9 November 2018)

PZ99 said:


> Condolences to holders. It's tempting to re-enter on the back of this duster, need to do more research on the likelihood of a CR prior to the SNE deal.



PZ 99
Your condolence is well received..
I have probably put another nail on my coffin and bought few more FAR at .082 . My tip has gone down any way but who knows? There are still 20 calendar days left for my tip in November ??


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## Wyatt (9 November 2018)

Bummer for holders on this oil punt. They sure got thru the drilling in quick time. 
Good luck to those hanging on for the longer term prospects in FAR


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## Ann (9 November 2018)

Miner said:


> I have probably put another nail on my coffin and bought few more FAR at .082 . My tip has gone down any way but who knows? There are still 20 calendar days left for my tip in November ??




You never know it may well head on up again if the POO rises as I feel it may. Nil desperandum Miner!


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## Miner (10 November 2018)

Ann said:


> You never know it may well head on up again if the POO rises as I feel it may. Nil desperandum Miner!



Thanks, Ann for very inspiring advice.  It is very encouraging too with a hope lady luck to smile on me and many others .


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## Ann (10 November 2018)

Miner said:


> Thanks, Ann for very inspiring advice.  It is very encouraging too with a hope lady luck to smile on me and many others .



The chart suggests around 60 was a good support Miner. It held on the last trading session. I don't think anything higher, at best, than 76 to 78 may be the last high POO ever sees. My normal disclaimer, I could be wrong.


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## Miner (11 November 2018)

Ann said:


> The chart suggests around 60 was a good support, Miner. It held on the last trading session. I don't think anything higher, at best, than 76 to 78 may be the last high POO ever sees. My normal disclaimer, I could be wrong.



Thanks, Ann. If all ducks are going to be in a row, by mid next year there will be another drilling. I read the CEO's statement again for a maiden venture in the Gambia there has always been a risk.  
Big Rock - any comments from you?


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## Ann (11 November 2018)

This chart will show new people to charting what is known as a "Falling Knife". This is a brilliant example. The saying that goes with a falling knife chart pattern is...."never try to catch a falling knife, it will cut your hand open".

If anyone is contemplating this stock, my best advice is..... perhaps there is better value elsewhere.


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## Miner (11 November 2018)

Ann said:


> This chart will show new people to charting what is known as a "Falling Knife". This is a brilliant example. The saying that goes with a falling knife chart pattern is...."never try to catch a falling knife, it will cut your hand open".
> 
> If anyone is contemplating this stock, my best advice is..... perhaps there is better value elsewhere.
> 
> View attachment 90220



Thks Ann for a very good and direct message.
I will take it on board. Honestly I can read charts as required for my day job but have a little or no skill understanding falling knife etc.
But charts are science and probably I have been carried out by my conviction / emotion and comments from an investment specialist who reportedly put his skin on FAR at 11.5 cents and later 8.2 cents. But he was wrong at 11.5 cents so probably could be wrong again.
Let me go back to basic and watch market on Monday.
Many thks again.


----------



## Ann (11 November 2018)

Miner said:


> Thks Ann for a very good and direct message.
> I will take it on board. Honestly I can read charts as required for my day job but have a little or no skill understanding falling knife etc.
> But charts are science and probably I have been carried out by my conviction / emotion and comments from an investment specialist who reportedly put his skin on FAR at 11.5 cents and later 8.2 cents. But he was wrong at 11.5 cents so probably could be wrong again.
> Let me go back to basic and watch market on Monday.
> Many thks again.




Miner, you said "charts are science".  This is absolutely false. It is purely what is in the eye of the beholder. It is almost a dark art. There is an art if one focuses and works with charts for long enough. This is the problem when people who have a limited knowledge of charting try to simplify charts to a basic formula and impose it onto some sort of program. It is destined to fail and will never ever work.


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## Miner (11 November 2018)

Ann said:


> Miner, you said "charts are science".  This is absolutely false. It is purely what is in the eye of the beholder. It is almost a dark art. There is an art if one focuses and works with charts for long enough. This is the problem when people who have a limited knowledge of charting try to simplify charts to a basic formula and impose it onto some sort of program. It is destined to fail and will never ever work.



Hello Ann
I understand your comments, but as I said, my skill base is really limited on charting techniques. So do not take my comments as a qualified one but an uneducated one on this matter.  Sorry.
This discussion, however, opens up an interesting topic if a chart is a science or dark art. Probably I will stretch beyond FAR topic.
Hopefully, chartists like Tech/A, So Cynical, SKC, Gregg, and others could make comments on FAR and its double knife chart interpretation.


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## Ann (12 November 2018)

Miner said:


> Hello Ann
> I understand your comments, but as I said, my skill base is really limited on charting techniques. So do not take my comments as a qualified one but an uneducated one on this matter.  Sorry.
> This discussion, however, opens up an interesting topic if a chart is a science or dark art. Probably I will stretch beyond FAR topic.
> Hopefully, other chartists like Tech/A, So Cynical, SKC, Gregg, and others could make comments on FAR and its double knife chart interpretation.




Not double knife, it is a "falling knife" Miner. I would love to see others offering a chart with differing views. I had the great good fortune with this sort of debate on another site with traders who were genuine chartists many years ago. I met many of them in person. It is a quick and easy way to see who can and can't chart, many are disinclined to expose their abilities or lack of them. Often you will see a chart with no explanation which is less than helpful. I come to charting as though I am speaking with folks who are either highly skeptical or have no knowledge of charts. My focus is trying to show people the amazing information a chart can expose. It may be a black art but not one which can't be aquired with work and proper tutelage.


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## Skate (12 November 2018)

@Ann made this comment: *Hopefully, other chartists like Tech/A, So Cynical, SKC, Gregg, and others could make comments on FAR and its double knife chart interpretation.

Footnote* - @captain black should be included in the list above as his knowledge is invaluable.

*My apologies in advance* 
I hate long winded posts & this is my second long post in a week - I get exhausted reading them let alone writing them. I'll chunk the post as usual to encourage you to keep reading and finally get to my chart of (FAR) for analysis explanation.

*From my Perspective – as a recent owner of (FAR)*
My views are from a technical perspective about the position I recently held in the company (FAR) a position exited with profit.

The typical trend follower would have been all over (FAR) jumping on board once the move was on (that’s the easy part) but knowing when to jump off is the tricky part of the equation. Knowing when to sell is where the money is to be made.

I made a post in another thread about inside information & those comments can go a long way in explaining the sudden movement about the company in question (FAR)

https://www.aussiestockforums.com/t...ion-how-to-get-some.34332/page-2#post-1001452

@joe requested more trading information so I'll explain how I handled my position in (FAR) and I’ll even show you a chart of my actual trade.
*
First Off*
I want to give some background information for educational purposes explaining the feature of a (ROC) indicator - an indicator that would have protected most position holders of (FAR) using this technical indicator just as I had.
*
What’s a ROC ?*
A (ROC) is a Rate of Change indicator, it's simply a Momentum Indicator that measures the percent change in price from one period to the next.
*
Investment success depends on two basic things:*
1. Picking good stocks that increase in price, and
2. Effectively managing the stocks after you buy them.

Effective management means having a plan for either cutting losses or taking gains & @peter2 is the master at this game.

Managing your stocks after you buy them is what determines your level of success. Great investing results are a product of shrewd selling rather than smart buying.

*Lousy picks*
All investors will buy their fair share of both good and bad stocks. Even the best investor has plenty of lousy picks along the way, but it is the manner in which you handle those investments after their purchase that ultimately determines your level of success. If you sell your good stocks too early and hold on to your bad stocks too long, it doesn’t much matter how good your stock selection might be.

*Selling*
Successful investing is largely the art of selling. Buying a stock is easy. It is determining when to cut your losses or when to take your profits is the hard bit. Because it is so hard to determine when it is the right time to sell, many just don’t do it.

*Irrational people*
Trying to guess what an irrational person might do is sometimes futile. The market illustrates that point quite often with movements that defy explanation. Just like the recent movement of (FAR)

*Psychology*
Many people make the mistake of thinking that what move the market are financial statements, economic reports, and news. Those things may all have some impact, but ultimately the market is primarily an exercise in psychology. Unfortunately, even the best psychologists have a hard time predicting exactly how someone might behave.

*The market is not logical or reasonable*
The simple truth is that the market is not logical or reasonable. It is emotional and unstable. A market is nothing more than a crowd of people that has absolutely no regard for what any one person may think and most times rational people make irrational decisions.

*Irrational and moody*
One of the key advantages we have is knowing that the stock market is irrational and moody and prone to doing unexpected things.

*The market is fascinating*
One of the reasons that the market is so fascinating is that it combines elements of psychology, business, mathematics, and numerous other disciplines and sciences. Its value lies in its ability to help you understand behavioural trends in individual stocks as well as the broad market.

*Reading a Bar Chart*
It takes a bit of practice to get used to reading a bar chart, especially when the price is moving very quickly and @tech/a has proven to be the master of it.

Below I have uploaded a chart from my weekly trend trading strategy – it shows the entry & the exit signals.

I’ve attached the (ROC) indicator at the bottom of my chart for your reference - the exit signal was generated by the ROC indicator because it moved below the 0% line and lower.

On Friday the 28th September the (ROC) indicator dropped below the 0% line and the momentum of (FAR) was dropping. There was a small rally preceding this date only to fall greater the second time.
*
Study the Chart
*





*Selling is a valuable tactical tool*
Selling a stock is by far the most valuable tactical tool that the individual investor has at their disposal. Selling is cheap and easy and can be undone in the blink of an eye.

Too many seem to think that if they sell a stock, they are somehow prevented from buying it back again. Not so. For most investors, the biggest stumbling blocks to selling are mental.

If the momentum of (FAR) re-rallied there is nothing stopping you from buying it again, that the secret of trading.
*
Wimps*
In fact, I’ll go so far as to claim that a smart wimp who runs and hides when the going gets tough generally produces better results than brave souls who are proud of their ability to suffer great monetary pains while they wait for their convictions to be rewarded.

*Being macho*
The problem with the “macho” approach to the markets is that the consequences of being wrong are so onerous. The stronger your convictions and beliefs, the more invested and braver you are, and the greater the chance for a backbreaking loss. The wimpy investor knows that the key to success is staying in the game for the very long term.
*
Bravery*
Bravery can pay off nicely at times, but it can also cause you some grave injuries. Don’t be too fast to discount your feelings and emotions. Good investing requires a healthy emotional state.
*
In Conclusion*
@tech/a, @peter2 & @captain black are more qualified to express an opinion on the technical aspect of trading & it would be enlightening to get their views through that experience.

Skate


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## tech/a (12 November 2018)

Some good stuff there.
But your answer came on 9/11
Im happy to comment on the chart and it is interesting particularly in lower timeframes.
But


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## barney (12 November 2018)

tech/a said:


> Im happy to comment on the chart and *it is interesting particularly in lower timeframes*.




I had a quick glance at that as well …… 

Weighing up my previous readings on the Company; their current successes and now failure (only one, but an expensive one)

The short term price action indicates the heavy selling is being absorbed …… but who in their right mind catches a "falling knife" ….

"Deep pockets" with either intent … or "Time" on their hands ….. 

I don't trade Oilers any more, but if I did, I'd be happy to start accumulating this now …. Sell into the first bounce (even if its a dead cat) … then accumulate on the next dip/dips.


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## Ann (12 November 2018)

Skate said:


> @Ann made this comment: *Hopefully, other chartists like Tech/A, So Cynical, SKC, Gregg, and others could make comments on FAR and its double knife chart interpretation.
> 
> Footnote* - @captain black should be included in the list above as his knowledge is invaluable.
> 
> ...




What a sterling job you did with this post Skate. It is enormously helpful! I have looked at the ROC but in the auto setting on IC it rides the line quite differently. I clearly need to do some work on the ROC settings. Looking at your chart the ROC gave you an entry signal as well as an exit signal. 
I will even forgive you for verballing me!  It was miner who was calling for charts from others not me, however, I do love to see other peoples charts.


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## tech/a (12 November 2018)

Unfortunately ROC follows price
As a predictive tool it will be wrong as often as right
It’s when you have a striking disparity like this chart you tend to take notice
It is rarely a sound indicator.
There is a buy signal straight after Skates sell signal he points out!


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## Ann (12 November 2018)

tech/a said:


> Unfortunately ROC follows price
> As a predictive tool it will be wrong as often as right
> It’s when you have a striking disparity like this chart you tend to take notice
> It is rarely a sound indicator.




That is how I have always seen it tech/a, but seeing it in a different position on the line on Skate's chart is interesting. I want to see if I can reproduce a similar position on my chart by fiddling with the settings. Just a chart challenge which I enjoy. Not looking for the holy grail!


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## tech/a (13 November 2018)

Not looking for the holy grail

You should be!


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## Miner (13 November 2018)

Good morning folks
A big thank you for your recent value added interactions responding to my posting. I am just overwhelmed and blessed with comments without sugar coating. They have been educational and helpful for my future moves. 
I also noticed one director bought some 200000 at 8.2 cents. Just being a director he may not be right otherwise the market would have reacted positively. My solace could be  he also joined the grave with me. .


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## barney (13 November 2018)

Miner said:


> Good morning folks
> A big thank you for your recent value added interactions responding to my posting. I am just overwhelmed and blessed with comments without sugar coating. They have been educational and helpful for my future moves.
> I also noticed one director bought some 200000 at 8.2 cents. Just being a director he may not be right otherwise the market would have reacted positively. My solace could be  he also joined the grave with me. .




@Miner  …. FWIW ..... I think this Co will be fine over the longer term …. Oilers are notoriously volatile as we all know …….. Lets see how it fares over the next few months after the dust settles …. or perhaps we should say "water" ….   good luck with it.


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## Miner (13 November 2018)

Thanks Barney.


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## Ann (14 November 2018)

tech/a said:


> Not looking for the holy grail
> 
> You should be!




The Wise men say the Holy Grail is only a fool's errand instigated by the gods' for their own amusement.
The chalice is merely an empty vessel formed from pyrite and shone to a high gleam in order to make it appear more desirable.

Good luck with your quest tech/a.


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## tech/a (14 November 2018)

I have found the grail
Many years ago

Amazing Marriage
Great kids 
Enough $ for this lifetime 
Currently Healthy 

Holy grail right there Ann


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## Ann (14 November 2018)

tech/a said:


> I have found the grail
> Many years ago
> 
> Amazing Marriage
> ...




Well then it is all a moot point isn't it tech/a?


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## Miner (14 November 2018)

Ann said:


> The Wise men say the Holy Grail is only a fool's errand instigated by the gods' for their own amusement.
> The chalice is merely an empty vessel formed from pyrite and shone to a high gleam in order to make it appear more desirable.
> 
> Good luck with your quest tech/a.






tech/a said:


> I have found the grail
> Many years ago
> 
> Amazing Marriage
> ...



Dear Tech/A and Ann
I should confess, after reading Holy Grail's reference I have searched Internet to get all kinds of definitions for it.
The bottom line came it is some kind of achievement that can not be physically measured but gives you ultimate satisfaction. 
So if I return to Maslow's hierarchy  - to me it is attaining the level of self actualisation (after achieving food for survival, security, love, self esteem steps).
With my FAR I am at Survival stage


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## Ann (14 November 2018)

Miner said:


> So if I return to Maslow's hierarchy  - to me it is attaining the level of self actualisation (after achieving food for survival, security, love, self esteem steps).
> With my FAR I am at Survival stage




You are tougher than me Miner, I would have cut and run by now! Not giving you any advice of course, the POO might rise and lift FAR along with it.


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## barney (14 November 2018)

Miner said:


> So if I return to Maslow's hierarchy  -
> With my FAR I am at Survival stage




I understand your frustration Miner ….. I have a few Stocks giving me grief at the moment as well ….. The old rule of thumb is, if nothing material has changed your original reason for buying a Stock, then you should likely hold until it does …… (Of course if the share price is being belted unceremoniously, the psychology of hanging on/in is a bit more difficult to deal with.)

FAR's recent failure was costly and the market has responded ….. Is it terminal to the Company's future …. I doubt it, but that doesn't mean there wont be some short/medium term pain ….. Specs and Oilers are hard work!!


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## Ann (15 November 2018)

G'day Miner, our oilers may be saved yet!  The natural gas price just speared upward with traders trying to cover their shorts as they have just announced a particularly cold winter this year for the Northern Hemisphere. I would imagine that heating oil will fly upward dragging Brent and WTI with it. I see a big volume spike oneach of the natural gas, the heating oil and the WTI on the 5 minute charts at around 2.30 pm New York time.


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## Miner (15 November 2018)

Ann said:


> G'day Miner, our oilers may be saved yet!  The natural gas price just speared upward with traders trying to cover their shorts as they have just announced a particularly cold winter this year for the Northern Hemisphere. I would imagine that heating oil will fly upward dragging Brent and WTI with it. I see a big volume spike oneach of the natural gas, the heating oil and the WTI on the 5 minute charts at around 2.30 pm New York time.



Thks Ann
After much deliberation and speaking with the 'expert writer' I have found holy grail. Disposed 90% of FAR today taking $7000 loss. Good lesson to be low and humble for me. He reckons unless miracle happens far is to seek capital meaning further price reduction.
It is part of investment  game as I got 300% benefit from CVN so lady luck will not bless always. Honestly my blood pressure has calm down significantly now. 
Cheers.


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## Ann (16 November 2018)

Miner said:


> Thks Ann
> After much deliberation and speaking with the 'expert writer' I have found holy grail. Disposed 90% of FAR today taking $7000 loss. Good lesson to be low and humble for me. He reckons unless miracle happens far is to seek capital meaning further price reduction.
> It is part of investment  game as I got 300% benefit from CVN so lady luck will not bless always. Honestly my blood pressure has calm down significantly now.
> Cheers.




Aah well Miner, I guess massive loss is a potential flip side of massive profits when playing with penny dreadfuls. Too much like gambling for my tastes!


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## Skate (17 November 2018)

Miner said:


> Thks Ann
> After much deliberation and speaking with the 'expert writer' I have found holy grail. Disposed 90% of FAR today taking $7000 loss. Good lesson to be low and humble for me. He reckons unless miracle happens far is to seek capital meaning further price reduction.
> It is part of investment  game as I got 300% benefit from CVN so lady luck will not bless always. Honestly my blood pressure has calm down significantly now.
> Cheers.




Hi @Miner

Investors frequently wrestle with whether they should dump a weak position or wait it out and hope for a rebound

*Have you ever told yourself this story..*

“I’ve held on to this stock for this long, so I might as well continue to hold.”

Ultimately, that logic leads to giving back big gains and incurring big losses. Investors are often paralysed into inaction by concluding that it is too late to sell a stock that is already down substantially. This thinking keeps you emotionally and financially tied to under performing stocks and can cost you substantially while you wait and hope for a recovery.

*It’s never too late*

It is almost never too late to sell a stock in which you have a large loss. You should consider that something has probably changed. If you bought for technical reasons, you probably were undisciplined and let a loss get out of hand.

If the purchase of FAR was a discretionary decision it's the manner in which you handle those investments after their purchase that ultimately determines your level of success - IMHO that's the Holy Grail.

Its pleasing to read that you have finally 'bitten the bullet' and sold 90% of FAR taking a $7000 loss and moved on. One of the big benefits of selling a stock in which you have a large loss is that it often frees you up mentally and allows you to gain a fresh perspective.

*Misery*

When the misery of that big loss is suddenly removed you will feel a surge of energy or as you put it *"my blood pressure has calm down significantly now"* you might be surprised at how readily you can find other opportunities that will help you make up your loss. 

Cutting losses quickly and protecting capital is the key to outperforming the market over the long run. The market will always offer us opportunities in which to profit, so we need to make sure we always have capital handy and that it isn’t tied up in under performing stocks.

We all know that draw downs and losses are part of the trading process, so take it on the chin and be the ‘best loser’ you can possible be.

Skate.


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## Miner (18 November 2018)

Skate said:


> Hi @Miner
> 
> Investors frequently wrestle with whether they should dump a weak position or wait it out and hope for a rebound
> 
> ...



Dear Skate
What should I say? I have read your posting a few times and felt extremely privileged to be part of ASF  and knowing some of the honourable personalities here. It has been always a healthy discussion and interaction and that is a great strength of ASF (I wish Joe would capitalise the ASF community's strength and quality to lift ASF over some of the cowboys in the industry).  I am very moved and felt encouraged with your wisdom. Yes, once I have made the decision to sell I am only looking forward. A decision is a decision and it is normally the time of decision often comes out right or wrong than the actual decision material. Thanks a lot. 
I also liked Ann's candidness and writing separately to her posting. Thanks, Ann.


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## Miner (18 November 2018)

Ann said:


> Aah well Miner, I guess massive loss is a potential flip side of massive profits when playing with penny dreadfuls. Too much like gambling for my tastes!



Dear Ann

Many thanks for taking your time and being forthright with suggestions, comments and sharing your thoughts. All good and I have taken your views on board with respect.

However, I disagree with your observation that what I did was a gambling,  even I recognise you and others are entitled to have their own observations and that is fine. It is always often a perception to see half glass empty or full scenario.

First of all, I do not feel that I have gambled and I am a person who has never bet on a horse excepting joining Melbourne Cup sweep at workplace more to be seen as a social animal (to be aligned with Aristotle).

My 'investment' on FAR was a high-risk investment but I researched well and then took the risk. It was colossal and yes, on paper I have probably accepted but did not prepare myself to face the failure or taken a withdrawal to avoid the failure. That was the mistake on my part but it was not same as betting on Melbourne Cup, Casino or System 20 Lotto. The same philosophy and risk profile any explorer probably takes let it be a geologist, Columbus, Sherpa Tenzing / Edmund Hillary, Fah I Yen (https://en.wikipedia.org/wiki/Faxian) or Vasco De Gama. For FAR a director bought some 2 million shares at 8.2 cents. I was never near him. Was he gambling? Don't know and would have assumed, being a director he has good knowledge to take the risk. But if every director is smart and then no company would have failed.

America would not have discovered if Columbus did not take the risk and the monarchy of Spain did not support him.

No medicine Phase I, II or III stage would have been done if people are afraid of failures and thought them as a gamble. In mining or any industry, we take decisions with risk mitigation plans and some of them are of very high risk. N*o research to cure cancer, diabetes and other health issues, would have been done if we always thought spending money without a definitive success,  is a gambling.*

BHP took the decision on Magma Copper and selling some good assets. For commoners like  Mary and John, it could be a gambling but probably BHP did not feel that way. It was a risk they took. same with Rio to buy Alcan assets at a wrong time. It was always the time being wrong.

Of course, not everyone is willing to commit themselves to do a research or have the tenacity to do a Ph D. That includes me when I commenced my Ph D in Melbourne. But I did not continue and returned to do digging the mine instead,  for quick money.  I still regret that decision. Now at least try to do research as much as I can and still realise how little really I know of the vast knowledge world. But doing Ph D and spending 3-4 years and for some  not getting the degree is not a gambling.

Returning to the bottom line: I never thought I was gambling by sticking to FAR and any suggestion would be stretching that decision making intent too* 'far' 
*
Have a nice weekend my friend,  and keep helping me and others on ASF with your thoughtful research, educative comments and analysis. 
Thanks again.


----------



## Ann (18 November 2018)

Miner said:


> However, I disagree with your observation that what I did was a gambling,  even I recognise you and others are entitled to have their own observations and that is fine. It is always often a perception to see half glass empty or full scenario.
> 
> First of all, I do not feel that I have gambled and I am a person who has never bet on a horse excepting joining Melbourne Cup sweep at workplace more to be seen as a social animal (to be aligned with Aristotle).
> 
> Returning to the bottom line: I never thought I was gambling by sticking to FAR and any suggestion would be stretching that decision making intent too* 'far' *




Goodness Miner, I deeply appologize for any offence I may have caused you. I had never intended to imply or suggest you were gambling or being a gambler by saying I felt buying and selling penny dreadfuls was too much of a gamble for *me*.  I was merely reflecting my own tolerances in the stockmarket. 

I am not in the least surprised you had done an enormous amount of research prior to your investment, particularly as you had invested that amount of money into it. My response comes from years of chart observation as to the behavour of penny dreadfuls. They are what is generally called "pump and dumps".  I have an exceedingly low opinion of the ethics associated with these sort of stocks (not meaning FAR in particular) as once profits have been taken then everyone steps back leaving many seriously out of pocket. Sadly they generally come with a great story attached to them as bait.

My first view of any stock at any price is the longest back view I can see. It becomes immediately obvious if a particular stock has been subjected to pumping and dumping by looking out for periodic unnatural price spikes, where it has been pumped up with a great story only to fall away. FAR has far too many spikes for my liking, but far be it from me to tell people to stay far away from it! Sorry I couldn't resist, the pun was one of the reasons I wanted it for the comp plus as it was an oiler I thought it might go far for me. 

Appologies again Miner, please forgive? 

This is FAR's chart from 1992. It appears it takes a break for two years between spikes and begins pumping oil again. As you can see it has made a very few people a lot of money over the years.


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## Miner (18 November 2018)

Ann said:


> Goodness Miner, I deeply appologize for any offence I may have caused you. I had never intended to imply or suggest you were gambling or being a gambler by saying I felt buying and selling penny dreadfuls was too much of a gamble for *me*.  I was merely reflecting my own tolerances in the stockmarket.
> 
> I am not in the least surprised you had done an enormous amount of research prior to your investment, particularly as you had invested that amount of money into it. My response comes from years of chart observation as to the behavour of penny dreadfuls. They are what is generally called "pump and dumps".  I have an exceedingly low opinion of the ethics associated with these sort of stocks (not meaning FAR in particular) as once profits have been taken then everyone steps back leaving many seriously out of pocket. Sadly they generally come with a great story attached to them as bait.
> 
> ...



Hey Ann. Nothing to apologize here. You expressed your observation being a chart specialist which I am not. I was not offended but tried to clear my basis (defending sort of).
I need to up skill my chart knowledge. No end in learning . We all have good intentions here and that would mean we would look things differently. 
So all good and let us move on. Life is too short to worry for such little ripples on our swim across financial river.  
Cheers.


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## bigdog (24 November 2018)

Bad news was duster reported November 9 "Samo-1 well unsuccessful"

Keep your eyes on the 6th Dec OPEC decision - significant production cuts could be agreed to boost the oil price; potential for a positive impact on FAR's SP.

Nothing moves without oil 

The sell off has been well overdone, IMHO

I have been surprised by amount of SP fall from one duster!


----------



## PZ99 (17 January 2019)

Things are looking a bit crook on the FAR side. Down 14% in a week.


----------



## bigdog (23 January 2019)

Cairn Energy issued update yesterday
https://www.cairnenergy.com/news-media/news/2019/operational-update/#Tabundefined=1

*22 Jan 2019*
*Operational Update*

Includes update for Senegal

*Developments*

In Senegal, the SNE Field Development (Cairn 40% WI) is on track with the Final Investment Decision targeted for mid-2019. The phased Field Development and Exploitation Plan has been submitted to the Government of Senegal with first production targeted in 2022. Woodside has assumed the role of development operator as planned and the project finance process has been successfully launched.
Cairn also provided a 2019 Capex guidance of USD135mil, which includes pre-FID costs for Senegal (alongwith 3 other projects).



Today's share price is almost the 12 month low of $0.06 (high was $0.14)


----------



## PZ99 (23 January 2019)

That support at 6c has been broken so now it's at 5.8c and in freefall. 

Me tipping it in February will probably make it worse


----------



## PZ99 (24 January 2019)

Latest ann:> FAR Limited (ASX: FAR) advises that the seismic acquisition across permit, WA-458-P has safely and successful been completed. 

Late last quarter FAR concluded stakeholder engagements with CGG to join in the much anticipated Davros Extension Multiclient 3D Survey. FAR received a Notice of Start of Acquisition from CGG in mid-December as the MV Geo Coral began its mobilisation from southeast Asia. After a brief port call in Broome, the vessel commenced deployment of in-water equipment whilst on route to the survey area. 

Post end of the quarter, seismic acquisition across permit WA-458-P began. The survey was safely and securely completed in mid-January and FAR anticipates receiving the final processed data in H2 2019. FAR is pleased to have completed this survey, to enable a full evaluation of WA-458-P, which lies within the prolific Dampier sub-basin. 

This new data will be used for detailed mapping of the prospects which have been identified, leading to selection of potential candidates for drilling. FAR intends to farm down its high interest in WA-458-P after completing its evaluation of the permit using this new seismic data. 

FAR managing director, Cath Norman, said, “It is great to finally complete the seismic over the WA-458- P permit. Offshore Western Australia has seen a resurgence of activity following the Dorado discovery and FAR looks forward to completing this work on the block, aimed at identifying a drillable prospect, and then bringing in a partner for the drilling.”

Pump it here


----------



## bigdog (25 January 2019)

Found this FAR January 23 2019 youtube video (10 minutes) on FAR website

Published on Jan 22, 2019 
23/01/2019 - FAR Limited (ASX:FAR) Managing Director Cath Norman talks about FAR's 2018 operations, what will be happening this year for the SNE development project and future prospectivity of the Gambian blocks.

*Q&A with Cath Norman - January 2019*


----------



## PZ99 (14 February 2019)

Support building and resistance depleting... fingers crossed 







Traded volume 6700,000 so far...


----------



## Miner (14 February 2019)

PZ99 said:


> Support building and resistance depleting... fingers crossed
> 
> View attachment 92176
> 
> ...



@PZ99  Are you sniffing petrol  ???


----------



## PZ99 (14 February 2019)

Miner said:


> @PZ99  Are you sniffing petrol  ???



The good oil Miner


----------



## PZ99 (14 February 2019)

6.1c , 13% up  and 120 million shares traded.

What do we reckon people ?


----------



## Skate (14 February 2019)

PZ99 said:


> 6.1c , 13% up  and 120 million shares traded.
> 
> What do we reckon people ?




PZ99, as you have asked...

*"One swallow doesn't make a summer"*

What's the meaning of the phrase 'One swallow doesn't make a summer'?
A single instance of something is just that; it doesn't indicate a trend.

Skate.

*1. Daily Buy & Sell pressure *(14th Feb 2019)





*
2. Weekly Buy & Sell pressure*






*Sorry it's still unloved*


----------



## PZ99 (14 February 2019)

Thanks for that @Skate 

So I'm making a meal out of a swallow then 

Was happy to offload some overstocked parcels though...


----------



## Miner (14 February 2019)

PZ99 said:


> 6.1c , 13% up  and 120 million shares traded.
> 
> What do we reckon people ?



At the close of trading it was 256 million shares transacted. There must be something which charts may not be able to trace down. Closing price was only 5.6% compared to 13%  up


----------



## Miner (14 February 2019)

Skate said:


> PZ99, as you have asked...
> 
> *"One swallow doesn't make a summer"*
> 
> ...




Hi Skate
Pardon me for my comments as I just envious on those who can draw lovely charts
Yes, one swallow does not make a summer. But to win a lotto you need one swallow only  
So 256 million shares transactions must have a story line. 
Regards


----------



## Miner (15 February 2019)

Miner said:


> Hi Skate
> Pardon me for my comments as I just envious on those who can draw lovely charts
> Yes, one swallow does not make a summer. But to win a lotto you need one swallow only
> So 256 million shares transactions must have a story line.
> Regards



Within 17 minutes of opening of market today, FAR volume exceeded 1.1 millions. Yesterday was 256 millions. Day before yesterday was 2.7 millions.  Probably Monday, ASX would provide who was/were  the interested buyer/s on Valentine's  Day  and possibly today 15th Feb. Lots of love happening probably


----------



## Miner (15 February 2019)

The volume of transaction has exceeded 5 millions today. As at 3.41 PM AEST, there are now 101  sellers against 65  buyers which must depress the price further .
Could it be a short sell ?  How that can be detected if short sellers are manipulating the market yesterday and today with no news? Why ASX has not sent PLEASE EXPLAIN note to FAR either ?
Interesting manipulation as well as my speculation


----------



## PZ99 (15 February 2019)

You can check shorts with the daily shorts report for yesterday.

There's also the Shortman site for shorts history

Far shorts > https://www.shortman.com.au/stock?q=far


----------



## Miner (15 February 2019)

PZ99 said:


> You can check shorts with the daily shorts report for yesterday.
> 
> There's also the Shortman site for shorts history
> 
> Far shorts > https://www.shortman.com.au/stock?q=far



Many thanks @PZ99 . So what I saw, yesterday's massive sales was not even a normal short. Hmm. Wait and see what is coming. I will keep the link saved as well.


----------



## barney (15 February 2019)

The fact that it traded and closed above yesterday's ultra high Volume day is interesting. Lots of possibilities at this stage but definitely worth watching on that alone.


----------



## PZ99 (30 April 2019)

Trading Halt after closing for a equity raise 



Spoiler



FAR Ltd (ASX: FAR) requests a trading halt in its securities effective immediately pending an announcement by FAR Ltd in relation to a proposed equity raising. 

In accordance with Listing Rule 17.1, FAR advises that it: 
(a) is seeking the trading halt pending an announcement in relation to a proposed equity raising; 

(b) wishes the trading halt to last until the earlier of the commencement of trading on Friday, 3 May 2019 or the time when the announcement is released; and 

(c) is not aware of any reason why the trading halt should not be granted.


----------



## Miner (1 May 2019)

PZ99 said:


> Trading Halt after closing for a equity raise
> 
> 
> 
> ...



Thanks, PZ99
Somehow it missed my attention.
Stockline Peter Strahan has predicted previously that to survive FAR, it will be asking for equity.
Not knowing the price for SPP, I suspect the opening market price will be subdued - giving the opportunity to buy from the market as my guess SPP could be less attractive for the existing holders.
Let's see what happens after the trading halt withdrawn.
After losing on downslide price, I sold off my holding but when it went further down, bought some small parcel. So time will dictate if I should do nothing, sell out existing or closing the eyes buy SPP. Currently, the volume of shares (5.4 Billion ?)  in the market is considerably high. Could there be a consolidation of shares after capital raise - we all know by the end of this week. Unfortunately, I will be at mines and can see market only if Telstra phone works


----------



## Miner (1 May 2019)

Hello @Joe Blow  and @bigdog 
Just curious !
I got an email  but could not find @bigdog mail. May be it was deleted and technology did not catch up .
As I said , was curious as I do need to learn others views on FAR equity raising plan
Miner, bigdog replied to a thread you are watching at Aussie Stock Forums.

*FAR - FAR Limited*


----------



## bigdog (1 May 2019)

Miner I was posting to report 5.4 billion shares plus other info 3+ hours ago.

On checking and because you had reported the same before my, I deleted my posting


----------



## Joe Blow (1 May 2019)

Miner said:


> Hello @Joe Blow  and @bigdog
> Just curious !
> I got an email  but could not find @bigdog mail. May be it was deleted and technology did not catch up




@bigdog posted in this thread just before 9am but subsequently deleted his post. You must have gotten an email alert that he had posted in the thread but didn't get here until after it had been deleted.


----------



## Miner (1 May 2019)

Joe Blow said:


> @bigdog posted in this thread just before 9am but subsequently deleted his post. You must have gotten an email alert that he had posted in the thread but didn't get here until after it had been deleted.



Thanks Joe


----------



## PZ99 (2 May 2019)

Trading reopens at 10:37 

Successful completion of AU$45 million capital raising

Not for release in the United States



Spoiler



• Placement to institutional and sophisticated investors
• Proceeds to fund FAR’s ongoing interest in the SNE Field development, preparatory work for the proposed 2020 drilling program, Australian seismic and processing costs, and general corporate purposes FAR Limited (ASX: FAR) is pleased to announce a placement to institutional and sophisticated investors to raise approximately AU$45 million before expenses by issuing 818,854,544 million shares (“Placement”). The proceeds from the Placement (after costs) will be used to fund FAR’s ongoing interest in the SNE Field development, preparatory work for the proposed 2020 drilling program, Australian seismic and processing costs, and general corporate purposes. *The Placement price of 5.5 cents per share represents a 1.8% discount to FAR’s last closing share price on 30th April 2019 of 5.6 cents and a 4.9% discount to the volume weighted average share price for the 30 trading days ended 30th April 2019.* Upon completion of the Placement, the Placement shares will represent approximately 13% of the enlarged share capital of the company, which will have 6,280,387,002 ordinary shares on issue. The Placement shares, when issued, will rank equally in all respects with the existing ordinary shares. Application will be made to the ASX for the Placement Shares to be admitted to be quoted on the ASX. Settlement of the Placement shares is expected to occur in two tranches with the first tranche settling on Tuesday, 7 th May 2019 of AU$38.9 million with normal trading to occur on Wednesday, 8 th May 2019. We will inform the market once settlement of the second tranche of AU$6.1 million has been completed. FAR thanks Bell Potter Securities Limited for their management and bookrunning services


----------



## bigdog (2 May 2019)

The Placement price of 5.5 cent sper share represents a 1.8% discount to FAR’s last closing share price on 30th April 2019 of 5.6 cents and a 4.9% discount to the volume weighted average share price for the 30 trading days ended 30th April 2019

issuing 818,854,544 million shares (“Placement”)

which will have 6,280,387,002 ordinary shares on issue (6.3 billion)







Plus $45 million raised + cash and term deposits end of quarter

Looks like they will have a lot of cash

*SP after reopening at 10:37 this morning*






*Details of announcement are:
  2/05/2019 10:16:06 AM  Successful completion of AU$45 million capital raising *

Successful completion of AU$45 million capital raising
Not for release in the United States

•Placement to institutional and sophisticated investors

•Proceeds to fund FAR’s ongoing interest in the SNE Field development, preparatory work for the proposed 2020 drilling program, Australian seismic and processing costs, and general corporate purposes

FAR Limited (ASX: FAR) is pleased to announce a placement to institutional and sophisticated investors to raise approximately AU$45 million before expenses by issuing 818,854,544 million shares (“Placement”).

The proceeds from the Placement (after costs) will be used to fund FAR’s ongoing interest in the SNE Field development, preparatory work for the proposed 2020 drilling program, Australian seismic and processing costs, and general corporate purposes.

The Placement price of 5.5 cents per share represents a 1.8% discount to FAR’s last closing share price on 30th April 2019 of 5.6 cents and a 4.9% discount to the volume weighted average share price for the 30 trading days ended 30th April 2019.

Upon completion of the Placement, the Placement shares will represent approximately 13% of the enlarged share capital of the company, which will have 6,280,387,002 ordinary shares on issue. The Placement shares, when issued, will rank equally in all respects with the existing ordinary shares.

Application will be made to the ASX for the Placement Shares to be admitted to be quoted on the ASX.

Settlement of the Placement shares is expected to occur in two tranches with the first tranche settling on Tuesday, 7th May 2019 of  AU$38.9 million with normal trading to occur on Wednesday, 8th May 2019. We will inform the market once settlement of the second tranche of AU$6.1 million has been completed.

FAR thanks Bell Potter Securities Limited for their management and book running services

Shareholder approval for the shares issued pursuant to the Placement is not required as the Placement shares are being issued within FAR's existing placement capacity under Listing Rule 7.1.

168


----------



## bigdog (8 May 2019)

*Speeding ticket*





*Response*






*Five day share price chart*


----------



## Miner (30 May 2019)

https://www.asx.com.au/asxpdf/20190530/pdf/445gsksh7w2dz3.pdf
After raising the fund, what is the feedback on this report ?


----------



## PZ99 (5 June 2019)

Looks to me like it's getting shorted to hell today.


----------



## bigdog (19 June 2019)

Offshore groups eye Far, Cairns Energy oil stake - The Australian
The sale process for a stake in Far Limited and Cairn Energys Senegal project is thought to be moving forward and bids for the business are understood to have

This was published in the Australian which I do not have access to

Above is all that I can see


----------



## IFocus (19 June 2019)

A bit more from the Australian BD


It is thought indicative bids for the business were due on June 10 in a sales process run through advisory firm Jefferies.

The SNE development, off the coast of Senegal in West Africa, has an overall value of $US3 billion ($4.4bn).

It is 15 per cent-owned by Far. Cairn owns about 40 per cent, and a 30 per cent stake is understood to be on offer by Cairn to finance the project.

The other owners are the operator, Woodside, which holds 35 per cent, and Petrosen, the Senegalese national oil company, with 10 per cent.

Offshore groups are expected to show interest, including PTT out of Thailand.

The SNE deepwater oilfield discovery is offshore, 100km south of Dakar. It was the largest oil discovery for 2014 and production is first targeted for 2022. Capacity is estimated at 100,000 barrels a day."

https://www.theaustralian.com.au/bu...ps-eye-far-cairns-energy-oil-stake/news-story


----------



## Miner (19 June 2019)

IFocus said:


> A bit more from the Australian BD
> 
> 
> It is thought indicative bids for the business were due on June 10 in a sales process run through advisory firm Jefferies.
> ...



@IFocus 
Technically with WPL stake, there was no ripple on share price of WPL today, nor there was any announcement or trading halt on WPL. It could be for WPL the value of transaction is not materially significant to have any trading halt or pre-emptive announcement.
Nonetheless, both your and @bigdog's postings are on positive sides for FAR holders.
Lets see


----------



## bigdog (19 June 2019)

322


----------



## bigdog (30 August 2019)

Would expect FAR to rise sometime in the coming months!!

Half Year Accounts issued August 29 2019 with $35.8 million in the bank










12 month high of $0.137 and 12 month low $0.053


----------



## PZ99 (24 September 2019)

Topped up as it looks like another routine of getting smashed by the big guys.

RU good oil or RU not ?






Doesn't get much worse than that.


----------



## PZ99 (30 October 2019)

Down a few more pips in the last month, however...

"Potential for 1.2 billion barrels of oil offshore The Gambia"



Spoiler



The company’s wholly owned subsidiary, FAR Gambia Ltd. announced the figure following completion of detailed geotechnical studies incorporating data from the Samo-1 well.

Blocks A2 and A5, which FAR operate with 50% working interest, cover 2,682km² of the Mauritania-Senegal-Gambia-Bissau-Conakry (MSGBC) Basin, in water depths ranging from 50 to 1,500 metres and lie adjacent to FAR’s world class SNE oil field. The Combined Prospective Resources for the two blocks was assessed at 1.2 billion barrels (unrisked, Best Estimate, recoverable, 100% basis) with 621 million barrels net to FAR.

Operations are now underway to prepare for drilling in 2020. A 3D seismic survey will be undertaken in late 2019 to further delineate some large leads mapped out in Block A5 and firm it into prospect status.



And then today > FAR Limited (ASX: FAR) releases the economic data for the development of the world class SNE oil field offshore Senegal _pdf
_
FAR Limited (ASX: FAR) releases the economic data for the development of the world class SNE oil field offshore Senegal.


Spoiler



SNE, the world’s largest conventional oil discovery in 2014, is today recognised as a global tier one oil field with 2C oil resources in excess of 640 mmbbls1. The project will deliver FAR a net 13,670 bbls/d of oil production at US$$11 bbl OPEX. 

The unlevered project internal rate of return (IRR) is in excess of 30%2. FAR and the JV partners believe the robust economic returns for SNE has the potential to improve with acceleration of future development phases as well as the monetisation of gas, and improved oil recoveries.

A key change to previous guidance on total CAPEX for the development has been due to the shift from a leased FPSO (OPEX) to a purchased FPSO (CAPEX). As a result, it is likely that a larger proportion of the total CAPEX will be debt funded.

Formal government approval of the Development and Exploitation Plan (EP) and Final Investment Decision (FID) is anticipated in December 2019 with first oil forecast in late 2022.

FAR managing director Cath Norman, said, “The release of the economics for the development of the SNE oil field marks an important milestone for FAR, the Government of Senegal and the RSSD Joint Venture. The Joint Venture will now progress the final submission of the Development and Exploitation Plan for the SNE Field to the Minister of Energy in Senegal and anticipate approval of the plan by Presidential decree before the end of the year. The finalisation of the economics also allows the JV partners to conclude funding arrangements and FAR looks forward to updating shareholders in the coming weeks. On successful completion of the financing for the development, FAR will be fully funded through to first oil from SNE in late 2022.
Given the strong economics for the development, the value of FAR’s share of the SNE field is forecast to triple in value between now and first oil. This is a terrific result for FAR shareholders, especially given this estimate does not take into account the anticipated upside opportunities that are anticipated through the development.
FAR’s transition to being an oil producer is an exciting one – and will see FAR become a material Australian listed oil producer from 2023.”



Still unloved but worth a tip in the comp


----------



## bigdog (21 November 2019)

FAR is now at 5 year low

Far is an oil and gas explorer focused on opportunities in West Africa and Senegal in particular. It has been heavily hyped in the past and boasted of two “world class” oil discoveries in offshore Senegal.

Far claims to own offshore blocks in Gambia that contain more than 1 billion barrels of oil according to previous estimates. The excitement around its claims has seen the share price reach as high as 14 cents and a more than $700 million valuation.

FAR announced 14/11/2019 2:57:50 PM Financing update for the SNE field development (attached)











I hold and have tipped several times in monthly tipping
397


----------



## PZ99 (21 November 2019)

It's making a fool of me in this months' comp but still handy for a quick bit of pip trading 

It's been getting shorted to hell of late.


----------



## bigdog (29 November 2019)

https://www.reuters.com/article/us-...-stake-in-senegal-oil-field-ceo-idUSKBN1XT02V

November 19, 2019 / 11:45 AM / 10 days ago
*Woodside would consider increasing stake in Senegal oil field: CEO*

MELBOURNE (Reuters) - Woodside Petroleum (WPL.AX) would consider increasing its equity stake in the Sangomar oil project off Senegal if any of its partners looked to sell down their stake, Chief Executive Peter Coleman said on Tuesday.

Coleman told analysts at a briefing that if the partners looked to sell any of their equity, Woodside would look at acquiring that “very very closely”. He was asked whether the company, as operator of the Sangomar project, would want to increase its 35% equity stake.

Woodside’s partners in the project are Cairn Energy (CNE.L), FAR Ltd (FAR.AX) and the Senegal government.

Following slide included Sept 11 2019 Investor presentation






Potential for 1.2 billion barrels of oil offshore The Gambia






I hold



553


----------



## PZ99 (29 November 2019)

I hold as well and this is probably the first time I would be holding out for a speeding ticket


----------



## bigdog (3 December 2019)

ASX Announcement today
3/12/2019 8:56:55 AM Development and Exploitation Plan submitted for Senegal (uploaded)

FAR needs some news to help to lift the share price just above 5+ year low





10 year chart


----------



## Garpal Gumnut (3 December 2019)

It is very odd that FAR share price seems to have a remorselessly bearish trajectory when it's partner WPL has such an upbeat view on it's Senegal venture.

Very odd indeed.

SP always trumps announcements as to the future imo.

gg


----------



## PZ99 (9 December 2019)

Well I must thank @bigdog for tipping this and helping me free up some capital today


----------



## PZ99 (10 December 2019)

Blue sky Senegalese oil play FAR Ltd has told shareholders all about a planned $US350 million-odd debt raising – but what about its equally if not more ambitious equity offer?

Street Talk can reveal FAR has spent the past week pitching a $251 million equity raising to fund managers, which was to be done via a placement of new shares and help fund its aim to be one of the biggest ASX-listed oil producers.

https://www.afr.com/street-talk/251m-equity-raising-a-bridge-too-far-20191209-p53i1o

In other words... glad I sold


----------



## bigdog (10 December 2019)

ASX Announcement 10/12/2019 8:51:32 AM  *Trading Halt *(uploaded)

FAR Ltd (ASX: FAR) requests a trading halt in its securities effective immediately pending an announcement by FAR in relation to a proposed equity raising.


----------



## bigdog (10 December 2019)

FAR was my tip on the December 2019 tipping and I was second.

My position will no doubt sink when they trade next*!!
*
No ASX announcement yet; but this morning's AFR article look like has the details!!!

https://www.asx.com.au/asx/statistics/todayAnns.do

Article posted Australian Finance Review this morning
https://www.afr.com/street-talk/far...raising-bell-potter-on-ticket-20191210-p53igo

*FAR Ltd launches equity raising, Bell Potter on ticket*
*Sarah Thompson, Anthony Macdonald* and *Tim Boyd*
Dec 10, 2019 — 9.47am

Oil and gas explorer FAR Ltd has launched a $146 million equity raising to fund its development of an oil field in Senegal.

The conditional placement 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 sent to funds.

FAR's shares last closed at 5.4¢.

The placement – foreshadowed by Street Talk – was subject to a shareholder vote in January and receipt of a credit approved term sheet for an underwritten US$350 million senior debt facility by the end of the year.

Bell Potter was lead manager on the raising and was calling for bids by 2pm on Wednesday.

In addition to the $146 million placement, FAR was looking to raise up to $30 million via a share purchase plan, funds were told. Eligible shareholders could subscribe for up to $30,000 worth of shares, offered at the placement price.

The $339 million FAR would use the equity to fund phase one of the Sangomar oil field, in Senegal.

On Monday night, this column revealed FAR had been spending the past week pitching an equity raising to fund managers.

The mooted deal was slated as a $251 million placement underwritten by Macquarie Capital and Bell Potter, according to a presentation sent to wall-crossed investors and seen by Street Talk.

However, come Tuesday morning the placement was $146 million and Macquarie was nowhere to be seen.

906


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## PZ99 (10 December 2019)

6.2 billion shares on issue plus this raise. Sooner or later they'll probably have to consolidate which would be a disaster for holders IMV.


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## bigdog (12 December 2019)

ASX Announcement Equity raising to complete FAR's funding plan for Sangomar (uploaded)

FAR Limited (ASX:FAR) today announces a conditional placement to raise A$146 million at A$0.0425 per share (Placement). In addition, FAR will conduct a share purchase plan to existing eligible shareholders to raise up to a further A$30 million at the same price as the Placement (SPP), together, the Equity Raising.

The proceeds from the Placement form part of the planned financing package to fund FAR's capex to first oil for the Sangomar Oil Field development, offshore Senegal, working capital and transaction costs.

The Placement price of A$0.0425 per share represents a 21.3% discount to FAR's last closing price on Monday, 9 December 2019 of A$0.054 per share and a 12.0% discount to the 5-day VWAP.

PZ99
the 52 week low is $0.045 and market Cap is $339 million

Not looking good for existing shareholders who look like getting smashed!

Just started trading






971


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## PZ99 (12 December 2019)

You're not wrong @bigdog  - I picked up a few at .041 , .040 but it's a quick trade only.

Don't have much confidence for a long term hold at this point.

Condolences to holders. What a disaster.


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## bigdog (16 January 2020)

Cairn Energy reported more than FAR's paragraph yesterday

https://www.cairnenergy.com/news-me...-field-development-in-senegal/#Tabundefined=1

*Cairn takes Final Investment Decision on Sangomar Field Development in Senegal*

Cairn, along with its joint venture partners, Woodside and FAR, has signed a joint Final Investment Decision (FID) statement, in agreement with Petrosen and the Government of Senegal, at an official ceremony last night with the Minister of Petroleum and Energies, Monsieur Mouhamadou Cisse.

The FID on Phase 1 of the Sangomar Field Development offshore Senegal follows the receipt last week of the 25-year Exploitation Authorisation from the Government of Senegal.

Phase 1 of the development will target estimated 2P recoverable oil reserves of 231 mmbbls (gross).  Over the life of the field, total recoverable oil resources are estimated to be approximately 500 mmbbls with the development also planning gas export to shore.

Woodside, as Operator of the joint venture, has completed the purchase contract for the Floating Production Storage and Offloading (FPSO) facility and issued full notices to proceed for the drilling and subsea construction and installation contracts.


 The key contractors for the development are:

MODEC, Inc, for the purchase of an FPSO with an oil processing capacity of approximately 100,000 barrels per day
Subsea Integration Alliance (a non-incorporated alliance between Subsea 7 and OneSubsea) for the construction and installation of the integrated subsea production systems and subsea umbilicals, risers and flowlines
Diamond Offshore for two well-based contracts for the drill rigs Ocean BlackRhino and Ocean BlackHawk


Simon Thomson Chief Executive of Cairn said;

“Cairn’s discoveries offshore Senegal from the country’s first deep water wells opened up a new basin on the Atlantic Margin. Cairn has operated three drilling programmes and successfully laid the foundation for Senegal’s first multi-phase oil and gas development. Senegal is now an attractive oil and gas province, drawing the attention of the global industry.”


Woodside CEO Peter Coleman1 said;

_“We look forward to progressing the project towards first oil in early 2023 and expect that our experience in offshore FPSO developments will support its delivery on cost and schedule._

_We are grateful for the ongoing support of the Government of Senegal and will be working with all stakeholders to ensure that the country’s first oil project delivers enduring benefits to its people.”_



FAR Managing Director Cath Norman said;

_“This is a momentous milestone for the joint venture and the people of Senegal. We thank all of our stakeholders and look forward to the coming weeks and months before first oil in early 2023.”_

*



*

459


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## bigdog (21 January 2020)

Found this Cairn Energy youtube video about the Sangomar Field Development (4:37 minutes)
-- explains everything about the development through the flow of oil and gas.








https://www.cairnenergy.com/operations/senegal/

Cairn drilled the first deep water wells offshore Senegal in 2014 and made two basin opening discoveries, one of which, the SNE field, was the largest global oil discovery of 2014.

Since then, the region has evolved from a frontier basin to an emerging oil play attracting the attention of the global industry. Cairn farmed-in as operator to its three blocks offshore Senegal in 2013 acquiring a 65% interest in the three blocks with a combined acreage of 7,000km². Since then, Cairn has operated three drilling programmes and has now successfully laid the foundation for a multi-phase development plan of the SNE field.

In 2018 substantial progress was made on the SNE field multi-phase development with a number of key milestones achieved. Our partner Woodside has now assumed the role of operator, as planned, and the Joint Venture (JV) is targeting a final investment decision in H2 2019 and first oil in 2022.

The SNE development concept is a stand-alone Floating Production Storage Offloading (FPSO) vessel facility with a capacity of ~100,000 bopd, with 23 subsea wells and supporting subsea infrastructure. It will be designed to allow subsequent SNE development phases, including options for gas export to shore and for future subsea tiebacks from other reservoirs and fields.

In January 2019, the JV received approval in principle for the technical basis of the SNE Development and Exploitation Plan and confirmation that the licence covering the SNE development area would be extended to allow for the conclusion of FEED and to mature financing activities during 2019 prior to Exploitation Licence award. Separately, the JV has been granted a two-year exploration period extension for the PSC areas covering FAN and SNE North/Spica, in order to undertake further evaluation.

The Environmental and Social Impact Assessment (ESIA) was submitted in 2018 and approved in January 2019.

Project finance has been successfully launched with detailed work underway on financing structures for the JV.






*SNE Subsea layout *

FEED activities for the subsea contract and for the FPSO facility have been awarded to Subsea Integration Alliance and MODEC International Inc, respectively. Subsea and FPSO FEEDs are now complete.

The JV acquired a high resolution 3D seismic survey in Q2/3 2019 in order to improve reservoir definition and support development well placement.

We have a 40% interest in three blocks offshore Senegal (Sangomar Deep, Sangomar Offshore, Rufisque Offshore) alongside our Joint Venture partners Woodside 35%, Far Ltd 15% and the Senegal National Oil Company, Petrosen 10%.

604


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## PZ99 (29 January 2020)

Crashed to 3.9c so I topped up. Directors topped up at 4.25c


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## bigdog (29 January 2020)

PZ99

Probably the first time I have seen Cath "buy" shares for $30,000 cash!!

I have been FAR shareholder for about 10 years.






962


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## bigdog (14 February 2020)

ASX Announcement today
14/02/2020 9:49:18 AM Arbitration Decision






A very disappointing announcement and a very sad day for holders; they got it wrong.

Bigger holders than all of us will now determine the fate of this organisation and its management. Let's hope whatever that is can be favourable to holders.

SP all time down low of $0.031 for a past 10 years!






047


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## PZ99 (14 February 2020)

Surprised it didn't go to less than 3 cents. i guess a hostile takeover is on the cards ?


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## bigdog (14 February 2020)

Woodside made this announcement today

The Tribunal has ordered the parties to provide their views on the next procedural steps arising from the decision within 45 days.

FAR AGM is timed for May 2020
Need to give a strike to the board on the Exec packages
Cap value about $340 million
Is cheap FAR takeover possible!






081


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## PZ99 (21 February 2020)

Bit of a mess but I'll tip this silly thing again pn the back directors buying more shares on market and a touch of symbolic suicide


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## bigdog (21 February 2020)

PZ99 said:


> Bit of a mess but I'll tip this silly thing again pn the back directors buying more shares on market and a touch of symbolic suicide




Big spenders our directors!!

Reginald George Nelson $31300
Timothy Roy Woodall $22400
Catherine Margaret Norman $19840


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## bigdog (30 March 2020)

ASX announcements today




















727


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## frugal.rock (28 July 2020)

Far up 27% today...
Will go far?
Dunno.


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## Miner (16 September 2020)

https://www.asx.com.au/asxpdf/20200914/pdf/44mm03zqkb7xxp.pdf COMPANIES have started more clever distribution strategy.
Hence popular markets FAR is not shown. 


			https://www.asx.com.au/asxpdf/20200914/pdf/44mm03zqkb7xxp.pdf


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## peter2 (16 September 2020)

Thanks for the heads up on FAR @Miner . FAR is a company in my never to e traded list due to the humongous number of shares issued. 
However, this news is very significant.  FAR has decided to sell it's MAIN asset. How can any company continue without it's main asset? 

It's no wonder the EOFY auditor included a disclaimer. This will be interesting and I'm happy to be on the sidelines.


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## Miner (28 September 2020)

peter2 said:


> Thanks for the heads up on FAR @Miner . FAR is a company in my never to e traded list due to the humongous number of shares issued.
> However, this news is very significant.  FAR has decided to sell it's MAIN asset. How can any company continue without it's main asset?
> 
> It's no wonder the EOFY auditor included a disclaimer. This will be interesting and I'm happy to be on the sidelines.



If the goss on the Tavern comes out to be true then belt up- FAR could be bankrupted due to high default. Unfortunately that also means my locked money on FAR is going to drain.
You are very far sighted @peter2  - should have paid more attention to your post - too late now
Any one has a better and positive story otherwise, please do share.


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## Miner (28 September 2020)

frugal.rock said:


> Far up 27% today...
> Will go far?
> Dunno.



Looking back on your post - it is only downslide to under ground - belly up


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## frugal.rock (29 September 2020)

Miner said:


> Looking back on your post - it is only downslide to under ground - belly up



Warning bells in announcement on  27th August, a month after my 8 word post....

"FAR remains in default of its payments to the RSSD joint venture, with the effective date of 23 June 
2020. The June, July and August cash calls are currently unpaid and total US$28.2M. 
The interest accrued to date on these payments is US$0.07M. As at 31 July 2020 FAR has cash of US$63.4M. FAR has 6 months from the date of default to make good its payments (plus interest) to the joint venture to come out of default."

I have no idea of their current position, never held. 

Maybe it's a case of join the far que hoping for your money back.
I hope for your sake Miner that you recover some funds.
Woodside may come to the rescue?

The life of speccie stocks... hard and fast, balls to the wall.
Get in and get out. There not hang around and see material, generally. 
Bottom drawers suffer termite damage.
Wins need to be locked in quickly, and losses even quicker, to keep them small.


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## Miner (29 September 2020)

frugal.rock said:


> Warning bells in announcement on  27th August, a month after my 8 word post....
> 
> "FAR remains in default of its payments to the RSSD joint venture, with the effective date of 23 June
> 2020. The June, July and August cash calls are currently unpaid and total US$28.2M.
> ...



Thanks @frugal.rock  for good stats and wishes. 
The rumour of  FARv getting bankrupt has come to me from Woodside corner ÷ which is very near to few pubs. 
It reminds us always to do hard research and not to be impulsive or fond of any stocks.


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## Miner (28 November 2020)

With the deal done with ONGC (largest publicly traded oil and gas natural commission in India) with the Senegal asset folloing shareholders meeting in December, FAR could be coming in the market for trade. Lots of dumping expected from impatient holders and some sale from opportunities buyers with significant cash $100 M is still reportedly with FAR  (see the report - I could read wrong- an apology in advance for erred reading /interpretation).
Personally, I want to dump unless now to Dec meeting market discloses something else  



			https://cdn-api.markitdigital.com/apiman-gateway/CommSec/commsec-node-api/1.0/event/document/1410-02307141-27U6VE6FABHPQSL0B81HBQSQAI/pdf?access_token=CaWr2pai475z4MbiiYVjME0myAsU


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## Ann (24 December 2021)

If anyone wants to know what a genuine chart shape called a "falling knife" looks like, this is the company that illustrates it perfectly.






...and from earlier days....






and here is an old chart of FWD back in 2013 when it suffered a falling knife, it never recovered. This is a very dangerous shape and although on rare occasions it may rise from the dead, mostly not. I have had it happen once to me. I cut my losses and moved on.


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## Ann (24 December 2021)

Those with sharp eyes may notice the old chart for FAR shows a price of 0.082c as the closing price of the first falling knife now you may see the closing price of the second and most recent falling knife was 0.38c. Surely this price has risen you say? Well no folks, while this nasty, nasty little stock was sitting in a trading halt, they announced a consolidation of 100 to 1 shares taking effect on the 24th of June 2021. You were not even able to sell before the consolidation date as you were locked into a trading halt. For those not aware of what happens, imagine holding 10,000 shares, then poof! It becomes a holding of 100 shares.  Has this happened to me? Sure has! Suck it up and move on...But the hate for this legalized theft still rankles. I try not ever to buy shtty little penny dreadful these days, I learned my lessons well.

I notice today there are folks out there trying to catch that falling knife...


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## finicky (3 February 2022)

Decade monthly chart - strong volume, small candle bodies suggest accumulation?
Don't follow but noticed a ticker rise of 16% yesterday.  Checked out a smattering of gossip on it and the drift I get is that they are liquidating a big asset for milestone payments and along with cash in bank the stock is a modest cashbox. Have exploration asset or two that are not being counted? Management is on the nose with punters as wasteful non achievers.. Surely the oil price would also be helping?

Not held
Not buying

Monthly


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## Miner (3 February 2022)

May be market rumour did not hype ?
In one week miraculous jump was for nothing






DNH



			https://cdn-api.markitdigital.com/apiman-gateway/CommSec/commsec-node-api/1.0/event/document/1410-02481604-2NT5SD2CK0NPN7P36JCAPU1OMC/pdf?access_token=0007J6FCDQLiQ0Q8dGZrIFkFWPLQ


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## Country Lad (24 March 2022)

Not something she will be including in her CV.  Terminated and the share price is up 15%.

_FAR Limited (ASX:FAR) (‘the Company’) an independent, Africa focused, oil and gas exploration company, advises that Catherine Norman has been given notice of termination from her role as Managing Director, effective immediately and has resigned as a director of the Company._

_Commenting on the executive change, Mr O’Connor said: “The time has now come for a fresh perspective to ensure the Company explores every opportunity to realise value for shareholders. On behalf of the Board I’d like to thank Catherine for her significant contribution to the company. The Board will update shareholders shortly on its strategy that seeks to reflect the underlying asset value in the FAR share price.”_


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## Miner (24 March 2022)

Country Lad said:


> Not something she will be including in her CV.  Terminated and the share price is up 15%.
> 
> _FAR Limited (ASX:FAR) (‘the Company’) an independent, Africa focused, oil and gas exploration company, advises that Catherine Norman has been given notice of termination from her role as Managing Director, effective immediately and has resigned as a director of the Company.
> 
> Commenting on the executive change, Mr O’Connor said: “The time has now come for a fresh perspective to ensure the Company explores every opportunity to realise value for shareholders. On behalf of the Board I’d like to thank Catherine for her significant contribution to the company. The Board will update shareholders shortly on its strategy that seeks to reflect the underlying asset value in the FAR share price.”_



Hopefully there will not be any court case on unfair dismissal too to strengthen Catherine's CV for next job


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