My thought (just posted on another thread);
1. PE – great if it happens, huge upside, but should be little downside if it doesn’t? Should be a premium based on probability of success but maybe threat of legal costs and complexities (shouldn’t be material in scheme of things). General uncertainty not good but what a great opportunity.
2. Next CR – expect this is main reason for current share price. Company announcements have been ambiguous and given bank balance, people with calculators are speculating what happens after the two planned wells plus with any additional drills. Company needs be clearer here.
3. Threat of a duster – this is always real, but I think given current undervalued SP, again not much downside (there will be though), and huge upside with success and connectivity
4. Takeover – should be a premium for WPL or anyone else eyeing FAR given unprecedented success to date, why isn’t there? Keep hearing it will the next thing, next drill, DOC, PE, connectivity, upgrade, etc. Is it just that there is reduced interest because of POO and geopolitical issues in offshore drilling as per COP?
5. Promotion – are management doing the rounds and talking to the correct people. Certainly getting a lot of flak but can’t fault their technical results to date. Are we speaking to the right institutions and getting the messages out there or are they too constrained by PE situation/tighthole/secret squirrel tactics or whatever? They are certainly busy just now but I wonder if this is where activity could be stepped up? We went a long time between announcements and it did the share price no favours – also did the share price no favours when we made a fantastic announcement!
6. Senegal risk – we’re a pioneer in West Africa and it has a history of corruption and overthrowing Govts. Not without risk but I think low and things improving, also other majors in the area too and policy and frameworks being put in place.
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Last
40.0¢ |
Change
-0.005(1.23%) |
Mkt cap ! $36.96M |
Open | High | Low | Value | Volume |
40.0¢ | 40.5¢ | 40.0¢ | $464.8K | 1.155M |
Buyers (Bids)
No. | Vol. | Price($) |
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3 | 119733 | 40.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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41.0¢ | 30000 | 1 |
View Market Depth
No. | Vol. | Price($) |
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3 | 119733 | 0.400 |
1 | 50632 | 0.395 |
1 | 100000 | 0.390 |
4 | 58133 | 0.380 |
2 | 9198 | 0.365 |
Price($) | Vol. | No. |
---|---|---|
0.420 | 153000 | 3 |
0.425 | 27500 | 1 |
0.430 | 263902 | 6 |
0.435 | 22300 | 2 |
0.440 | 47323 | 3 |
Last trade - 16.10pm 28/03/2024 (20 minute delay) ? |
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Last
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Change
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Open | High | Low | Volume | ||
40.0¢ | 40.5¢ | 40.0¢ | 68198 | ||
Last updated 14.47pm 28/03/2024 ? |
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