FAR 6.52% 4.9¢ far limited

miningnut re: banjo cost over-run, page-2

  1. 7,191 Posts.
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    re: miningnut banjo cost over-run Yes I've seen it and it's great news for FAR as there isn't that much money in the till although it should be able to earn at least $A2mil/pa net of production costs from their US gas/oil leases.
    They have a fairly aggressive drilling program in the US for the rest of the year so don't know if the above figure will cover these costs and the Directors don't have a big shareholding in the Company so don't mind putting their hand out for more money.
    China is a bonus but their 5% can be cut in half by CNOOC backing-in at pre-development stage-so it could be a very small interest in a very profitable venture.
    FAR does have an interest in the Sage oil discovery so will move on any discovery in the Nickol well that is currently drilling.
    There could still be considerable tax-loss selling in FAR in the next three weeks.
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