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FAR - FAR Limited

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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.
 
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.
 
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.
 
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..
 
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.
 
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
 

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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
 
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
 
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
 
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.
 
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.
 
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
 
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.
 
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
 
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.
 
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.
 
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.
 
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.
 
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.
 
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