FAR 3.13% 1.7¢ far limited

new seismic data acquired in guinea bissau

  1. cch
    134 Posts.

    Hi guys, today's announcement did caught me by surprise and as a result I decided to do little bit of research here.

    I'll make it short just to summarise things and encourage participation in this discussion:

    From what I can gather, Premier Oil was the company responsible for drilling the two major wells to in the sinapa block for the purpose of exploration and definition (back in 2004). And Premier was the first operator, followed by OXY and then Delex and now SVENSKA.

    The million dollar question here which I believe is on everyone's mind right now is why FAR decided to take up a 15% interest in this whole thing, particularly in the Sinapa block.

    And just to confirm FAR's announcement today, it is true that SVENSKA did acquire a new seismic data very recently, about one and a half week ago (link to the website below).

    I have a strong feeling that the reason FAR is convinced to take up the 15% interest in the mentioned blocks is because of the result of the newly acquired 2d seismic data... which must be attractive or else why bother. According to the announcement, the seismic data will be finalised and released early next year 2010. So if my reasoning is accurate enough, we can get to see the reason why FAR decided to gets it's hand dirty in this part of the ocean.

    Anyway, here is the link to the announcement from SVENSKA:
    http://www.spe.se/ds/export/spe/pdfs/SPE_Press_Release_Guinea_Bissau_20091209.pdf

    All the best to us and Merry Chritmas and a Happy New Year. Looking forward to 2010.

    =)
 
watchlist Created with Sketch. Add FAR (ASX) to my watchlist
(20min delay)
Last
1.7¢
Change
0.001(3.13%)
Mkt cap ! $159.6M
Open High Low Value Volume
1.6¢ 1.6¢ 1.6¢ $307.8K 19.20M

Buyers (Bids)

No. Vol. Price($)
10 6145591 1.6¢
 

Sellers (Offers)

Price($) Vol. No.
1.7¢ 6338342 17
View Market Depth
Last trade - 11.48am 01/06/2020 (20 minute delay) ?
(live)
Last
1.6¢
  Change
0.001 ( 5.88 %)
Open High Low Volume
1.6¢ 1.7¢ 1.6¢ 3876836
Last updated 11.33am 01/06/2020 (live) ?
FAR (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.