FAR 6.67% 1.6¢ far limited

fantastic deal with with delek

  1. 3,654 Posts.
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    Have to say some guys are very funny,

    like the comment :"The like of Syd typify the blind faith"

    FAR actually already saved USD$ 13 MILLION on that deal.

    FAR only needs to repay Delek USD $13 million in the event of commercial production.

    The forward obligations is limited as Delek already spent USD $13 million. As Svenska (Operator) pays 78.57%Participating Interest, FAR only needs to pay small part of the rest cost!!! Namely if the total exploration cost is USD $ 70 million, FAR will pay: 70 million * 21.43%- 13 million= USD$ 1.2 million! Anything wrong?

    That's why I said: no worry, just USD$ 600,000. we are all adults, we already robbed Delek, of course we need to take some responsibilities. The key point is we just pay Delek USD$ 600,000 to avoid USD$ 13 million's risk.

    Absolutely a good deal!!!
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