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and they are cash plush well into 2019
FARYF CLOSED .13 In aussie trading friday!
22 million volume ,
GET READY TO RUMBLE FOLKS!
Just starting to get value of what they have in the ground & what could happen in next few days or weeks with P/E arbitration verdict on way ,Chinese /CNOOC sniffing around ,
WPL will pay either way imo,lots of cash or maybe higher % to FARYF LT or imo just buy us out .35-.45 Target for me ,
Lots can happen here very soon !
GLTY,
GO FARYF GO !
somebody got an extra 10k today I got 10k also
when do you think its going to that pps?
out of curiosity....givin this share structure and eps mumbo jumbo...with out pumping.....what should the pps be IF this far limited had 440 million barrels reserves NET not gross....and $500 million market cap?
what ever became of this?
when are drill results coming and drilling to happen? just heard of this today
il do dd here but what am I looking for to see this move and what reasonable pps you looing for?
FARYF .105 closed tonite in aussie market,Hod .11,
Hold on tight to your shares ,June29th D-DAY IMO,
ARBITRATION COMING FROM INTERNATIONAL COURT DECISION !
Should be very interesting day INDEED!
Go FARYF !
Sticking with my target .35 in usa $ ??????????
https://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvSTYO6gy9zhSZpvZrke92GA%3D%3D
FARYF HIT HOD IN AUSSIE = .099 @ .093 as I write ,
LOAD UP NOW OR MISS A 5x -6x Bagger !
T/O .35 Target in next month Imo !
TIME HAS COME !
GLTY !
GO FARYF GO !
https://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvSTYO6we%2BzRKZpvZrke92GA%3D%3D
New TARGET FAR T/O =$.45 in 2 month
LOAD THE BOAT FOLKS ,
FEW BETTER PLAYS AVAILABLE !
GO BABY GO !
Woodside Petroleum, FAR Ltd's Senegal oil hopes swelled by reported BP interest
[?IMG]
The ambitions of disputing partners Woodside Petroleum and FAR Ltd to develop a circa $US7.5 billion oil project off the coast of Senegal in West Africa look set to get a boost. Jessica Shapiro
[?IMG]
by Angela Macdonald-Smith
The ambitions of disputing partners Woodside Petroleum and FAR Ltd to develop a circa $US7.5 billion oil project off the coast of Senegal in West Africa look set to get a boost after well-credentialled reports emerged that oil major BP is looking to buy into the venture.
BP is in talks with the current owner of the stake, Cairn Energy, to buy the 40 per cent holding in the deepwater SNE venture for about $US600 million, Reuters reported, citing an unidentified adviser to Senegal's oil minister.
The two companies haven't commented, the news wire added, but London-listed Cairn has been rumoured for some time to be a likely seller of its holding in the prospective Senegalese venture.
The entry of well-funded BP, which is highly experienced in Africa and has an existing presence in Senegal, into the SNE venture would be a positive, said RBC Capital Markets analyst Ben Wilson.
Mr Wilson said that at the cited price, the mooted deal would imply "a significant step-up" in the valuation of the SNE asset since Woodside acquired its interest last year.
Woodside bought its 35 per cent stake in the SNE project in a $US430 million deal with ConocoPhillips that was considered relatively cheap and sparked a dispute between 15 per cent SNE owner FAR and Conoco over pre-emptive rights. The dispute is currently in arbitration with a result expected in about April.
Mr Wilson said the per barrel transaction multiple - allowing for the back-in of the Senegal national oil company - worked out at $US3.40-$US3.90 a barrel for the reported BP/Cairn deal, compared to about $US2.20 a barrel for Woodside's entry.
The field is estimated to hold about 563 million barrels of oil, under Cairn's most recent estimate, although FAR uses a higher figure, endorsed by consultant RISC, of 641 million barrels.
The report of BP's prospective entry wasn't the only positive news for FAR shareholders, with the Melbourne-based explorer announcing that its two exploration permits offshore The Gambia, a country surrounded by Senegal apart from its narrow Atlantic coastline, could hold a significant 1.1 billion barrels of oil.
FAR said the Samo and Bambo prospects that it has identified in one of its permits in The Gambia are similar to its discoveries in SNE. Managing director Cath Norman said the potential resource "represents a huge prize if successful".
Shares in FAR, which owns 80 per cent of The Gambian permits, jumped 6.4 per cent to 8.3¢.
Ms Norman said FAR is "thrilled" that the independent estimate of resources in the permits backs the company's own assessment, and noted that a well is targeted for drilling at the Samo prospect in about 12 months' time.
FAR has had a data room open in London for a potential sell-down of its interest in the permits to help fund the drilling, with "numerous" parties interested, which are "all big names," Ms Norman said.
FAR may reduce its stake to 30-40 per cent in the venture, but is willing to retain a relatively significant holding given the softening in drilling costs, which means a well would cost about $US30 million, she said.
Interesting commercial assessment from independent analyst Peter Strachan on Sama in Energy News.
SEISMIC data over a prospective target of 500 million barrels-plus at FAR’s Sama prospect in The Gambia is getting potential farminees “very excited” to participate, independent analyst Peter Strachan said.
FAR has shifted its focus to farming down some of the 80% interest the Melbourne-based junior holds in two Gambian exploration blocks directly next t o and to the south, along trend form its 15%-held 640MMbbl-plus SNE oil discovery.
The junior has met with Gambian officials and government, and has now established an office in The Gambia to coordinate activities as it runs a data room for potential dance partners.
Polarcus 3D seismic purchased in October last year confirmed the Sama prospect and FAR farmed into blocks A2 and A5 in The Gambia in March this year as operator, after the company identified he area as part of regional studies in 2013 and 2014.
About 1504sq.km of 3D seismic data was acquired in 2015, with reprocessing planed before drilling next year.
In Sama, the same play type as SNE, FAR has access to the same, prolific source kitchen, the same upper/400 series reservoirs and thickening 400 series sands to the south, and thus rates thye prospect as a "high chance of success".
Sama's reservoirs have already been penetrated by 10 wells from the Rufisque, Sangomar and Sangomar Deep (RSSD) joint venture with Cairn Energy.
Strachan calculates that a retained 32% interest in a 500MMbbl discovery in Gambia would be worth nearly 28cps to FAR, if oil has an in situ value of US$8.40/bbl, with more upside to come if oil price rise as widely expected.
He noted that when ConocoPhillips was negotiating to sell its 35% stake in the SNE field to Woodside Petroleum, Brent was about $40 and below, and had risen to about $45 by the time the deal was announced.
Yet despite an estimated cash breakeven oil price of $35 for an SNE field development, it was not a viable or commercial proposition at $40, Strachan said.
Since then Brent has risen by more than 50% or $24/bbl, so Strachan says a net present value for the oil resources of over $10/bbl is currently likely to be a more accurate value market.
FAR is in the middle of independent arbitration to determine if ConocoPhillips acted in good faith when it sold tis interest to Woodside, and whether there was an adequate first right of refusal process offered to the Melbourne junior.
Yet even with that going on, Strachan said there's very little downside for FAR.
Costs are capped in that process in which FAR has invested and a decision is final with no resource available, so Strachan does not see any downside for the junior from this point, only upside if it is awarded some form of compensation from the tribunal.
FAR managing director Cath Norman was in Senegal last week meeting with Macky Sall, who has been Senegal's president since 2012, to "strengthen [the company's] long-standing relationship" in-country.
Cairn's exploration director Eric Hathorn added to the positive sentiment last month when he told Africa Oil Week that the JV was progressing toward first oil at SNE by 2021-23 with up to 1Bbbl of recoverable hydrocarbons.
"Senegal has moved from being a frontier basin to an emerging basin with a clear path to commerciality," Hathorn said, adding that the development of the country's oil sector "will benefit the people in Senegal."
Cheers BF.
Far Limited
I met with Cath Norman of Far when I was in Cape Town last week and I can confidently say that things are going very well in all their areas of operation. The situation in Senegal has been discussed many times and whilst arbitration is under way there is little more one can add. All I would say is that clearly the market hasn’t appreciated the value in the company that it has, for example, attributed to Cairn and that this will come out at an appropriate event in the future. Whether this is the arbitration or something different I can’t say but surely it will.
For what it’s worth I am as convinced as ever, if not more so that Cairn is seriously considering selling all or part of its 40% stake in the project, indeed this may already be underway. The reason I say this is that whilst Cairn is still the operator it has in its gift, or whoever buys that stake, the significant possibility of passing on that to any potential buyer. Should that buyer be a super major then, perhaps with the Far 15% stake added to it would give a majority in JV decisions, if I was advising them, with so much interest in the region I would consider it to be a value that would go once the operatorship transferred to woodside as currently envisaged. To give an idea of potential upside for Far, I understand that Cairn would only sell if the offer was just too good to be unturndownable…
Away from Senegal it is worth remembering that Far has an 80% stake in a potentially huge prospect in The Gambia which will be drill ready in 2018 and where Far has done a lot of the leg work already. Here where the data room is open the company can offer farminees the opportunity to get in at the ground floor on what might be another Senegal, who knows, may be even bigger. With the 80% stake Far can tempt majors with a big stake and of course the operatorship in a country where the new Government are very much open for business.
Shareholders in Far have been patient way beyond most would expect and you couldn’t blame them for abandoning ship things have taken so long. However I would seriously advise holding on as I think that the next few months will vindicate that patience and reward by what should still be a multiple and that is just in Senegal, in the Gambia they may yet have another….
Nice buy @.051 ,
.068 x.7815 = .053 aussie last price x currency difference ,4% up just by price which is great way to start your buying campaign,lol
LOAD THE BOAT @.051 if you need to buyin or top up ,
GO FAR!
GLTY
a partagé un lien.
4 min ·
YouTube
·
2017 FAR Ltd AGM Presentation
FAR Limited's (ASX:FAR) Managing Director, Cath Norman at our Annual General Meeting of Shareholders provides a project update across all assets.
a partagé un lien.
4 min ·
YouTube
·
2017 FAR Ltd AGM Presentation
FAR Limited's (ASX:FAR) Managing Director, Cath Norman at our Annual General Meeting of Shareholders provides a project update across all assets.
Youtube
Subscribe
FAR Limited's (ASX:FAR) Managing Director, Cath Norman at our Annual General Meeting of Shareholders provides a project update across all assets.
Absolutely will be Huge imo,
Target 1.00-5.00 now if get PE ,W/o still like .75-2.00 range ,
GO FARYF GO !
to top it off with great icing now we have blocks A2 and A5 off the coast of Gambia, by 2018 will get the same kind of discovery as in SNE, only this time Far ltd will get a better share of the acreage with 80% with its partner Erin energy. Now chew on this. I am on my way to eat the best THIEBOU DJEUN with some tasty gurpa fish in Dakar. Join me for great surfing !
You have no clue what's up with Far ltd. This is the best exploration junior oil and gas in the ASX. It has production sharing agreement with Cairn Energy and Woodside Petroleum in an area with reserves at 1.5 BIL barils The best oil discovery in 2014 and over 10 successful wells ready to be tapped . Production is scheduled no later than 2021 with a minimum start at 200,000 boed. When far ltd wins its trial in Paris against Woodside for its preemptive rights you will be so dazzled you 'd think you ve been overrun by a truck, then you can really kiss goodbye to .07. next leg = .70+ and hello 2.00. MARK MY WORD!
Not going to happen ,FAR is the real deal,
Patience will win on this play ,
.50-1.00 target if PE 2.00-5.00 is very realistic,
GO FAR GO ! ????????????
Btw if a r/S would actually be good because many funds will not buy stock below $5.00,
See ya @ the Top !??????
one less measly bony holder out of Far Ltd . Just what we needed to get it higher. See ya when it wins its court case with woodside and the nice drill results from SNE deep south come out . BITE THE DUST!
going down, see you at trips. dilution, scam, gonna get out asap
from Kayar to Sangomar , you can enjoy a nice Thiebou Djeun with some Dakhar and a lot of beugeudj with some souul . Take a long trip from Sally to Cap Skiring. Go FAR LTD and become a multi millionaire from Senegal oil and gas.
In response to your post : yeah a ten bagger to over .60+ .Just wait until next drill results are ready and will fly past 1.00.MARK MY WORDS!
I will meet you in Melbourne if goes to .60??????????,
I live in Philly /USA
GO FAR GO !
It is nice in here Dakar , temp is 28 Celsius and sunny, The coast is looking awesome all the way to Sangomar and Banjul. Thanks for the replies maybe i will afford a trip to Melbourne once this gets to .60.LOL
Absolutely,
Will just add to the till imo ,
9 for 9 in successful drilling Now ,
Unheard of ,
Either way Far will be a winner !
Holding LONG !
GLTY
I think you underestimate the blocks we have offshore Gambia and Guinea Bissau. They have the same seismic structure just under SNE. Could turn out another type SNE find sooner in 2018. FARYF way under priced buddy.
I agree on .06 ,but few reasons kept cheap imo are =WPL deal ,PE. Issue plus pushed up O/S on financial deal$$ @.08 in Aussie dollar=dilution but $$ needed to proceed on ,
Now all could change with all above issues on one news announcement on WPL/PE ,also CNOOC & TOTAL could get involved very easily & eithertake us out or Jv up & PE with them ,IMO I see .25-40 cents low buyout & if PE with new partner & dump WPL in process & get $ back on CONOCOPHILLIPS scumbag deal with WPL be awesome ,
I be buying here imo ,
Our time will come ,
LT PLAY FOR ME EITHER WAY !
GLTY
Time will tell!
I can't understand Faryf going for .06 . Way undervalued! This should be going for .80 + minimum .Besides Far just got access to 80% of the blocks offshore Gambia ( A2 and A5 ) and these 2 blocks are just south of SNE prolific reserves , best oil find in 2014.We could be starting with a minimum of 150.000 barrels/day in as early as 2020.That equates to 22.000 + barrels /day for Far. At $30 /b , we looking at 660.000/day or 240.900.000/day at a minimum cost as Conoco and Cairn are the majors in this one.
Happy New Year's to all FAR stock holders ,
2017 WILL BE HUGE !
LOAD UP @ THESE LOW PRICES = GIFT !
GO FAR GO !
MADMAX
http://www.far.com.au/
Business Summary
FAR Limited engages in the exploration and production of oil and gas. It principally holds interests in a portfolio of exploration licenses across 10 blocks in Senegal, Guinea-Bissau, and Kenya, Africa; and Australia. The company was formerly known as First Australian Resources NL and changed its name to FAR Limited in 2010. FAR Limited was incorporated in 1984 and is based in Melbourne, Australia.
FAR Limited
530 Collins Street
Level 17
Melbourne, VIC 3000
Australia - Map
Phone: 61 3 9618 2550
Fax: 61 3 9620 5200
Share Structure
Market Value1 $174,989,500 a/o Oct 31, 2016
Market Cap: 363.39M
Authorized Shares Not Available
Outstanding Shares 2,499,850,000 a/o Jan 21, 2014
-Restricted Not Available
-Unrestricted Not Available
Held at DTC Not Available
Float Not Available
EXCELLENT NEWS AGAIN FOR FARYF
http://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvFDZpi0f0u0yiv%2FF47cAjSrjMHoodXR5mIg%2F1lg%3D%3D
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