FAR 1.23% 40.0¢ far limited

Cheers Ya it's a good reminder of how costs can get away with...

  1. 13,173 Posts.
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    Cheers Ya it's a good reminder of how costs can get away with offshore drilling, in the initial farmout updates they were hoping to be free carried although there was a drilling cap, now almost $40Mil later we still don't know the final cost of the two wells.

    The feeling I'm getting is that FAR is gearing up to concentrate on getting value out of this field with this CR and talk of taking on more leases or looking for other opportunities are unlikely IMO, we will have our hands full if this discovery proceeds, given the likely assumption we want to maximise the value of any potential sale by doing some appraisal work.

    If SNE happens to come in then I guess the picture will change again but I'm pleased they went for a large raise now as a duster at SNE-1 (that would be known before comfirmation of FAN-1 most likely) would have us raising at a lower shareprice.

    Interesting times.

    Cheers Whisky
 
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