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FAR - FAR Limited

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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.
 
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
 
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.
Click to expand...

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
 
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
Click to expand...
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.​
Click to expand...

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".​
 
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
 
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.
Click to expand...
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.
 
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.
Click to expand...

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.
 
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.
 
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.
Click to expand...

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 :rolleyes:

We need a comprehensive update/report on what we're looking at for Senegal
 
Re: FAR - First Australian Resources

YOUNG_TRADER said:
We need a comprehensive update/report on what we're looking at for Senegal
Click to expand...
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.
 
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.
 
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.
 
Re: FAR - First Australian Resources

Trader Paul said:
Posted 03012008:

Hi folks,

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

happy days

paul


=====
Click to expand...

:)

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

:)

=====
 
Re: FAR - First Australian Resources

Trader Paul said:
:)

Hi folks,


and a .22 high, here ???


have a great day

paul

:)

=====
Click to expand...
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.
 
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
 
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.
 
Re: FAR - First Australian Resources

anyone still holding ???
results from china and senegal will be out soon...
iv been holding since....november.
 
Re: FAR - First Australian Resources

Mikii said:
anyone still holding ???
results from china and senegal will be out soon...
iv been holding since....november.
Click to expand...

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 :banghead:
 
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.
 

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