FAR - FAR Limited

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 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. .

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@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.

Thanks Barney.

tech/a said:

Not looking for the holy grail

You should be!

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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.

I have found the grail
Many years ago

Amazing Marriage
Great kids
Enough $ for this lifetime
Currently Healthy

Holy grail right there Ann

tech/a said:

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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Well then it is all a moot point isn't it tech/a?

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.

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tech/a said:

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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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

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

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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.

Miner said:

So if I return to Maslow's hierarchy -
With my FAR I am at Survival stage

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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!!

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.

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.

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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.

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.

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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!

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.

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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.

Skate said:

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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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.

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!

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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. No 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.

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'

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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.

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.

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.

View attachment 90358

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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.

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!

Things are looking a bit crook on the FAR side. Down 14% in a week.

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)