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Cash 11.3m,短期没有现金压力。
偷下懒，转发一下：
Production
FAR is a well funded junior oil and gas explorer with many High Impact company making projects. It utilises about $1.6m p.a. of Net Revenues to help fund its extensive exploration program
Projects
United States Projects Oil and Gas, varying 5% - 15% interests, U.S.
FAR has many US based projects with some currently in production generating about $1.6m p.a. in net revenue which assits in paying for exploration costs etc
FAR has had recent success in the US and a few of its projects are being tied into production and this will increase the net revenue figure to around say $2m p.a.
However the main interest here is the current South Gross Tete well,
The shallow target if successful would add 2-5c to FAR's SP
However it is the deeper target that is of interest, if that is successful it would add another $1+ of value to FAR's SP
The well was estimated to take 52 days to reach Target Depth and spudded on the 23rd of November which gives a rough expectation of 14 January for a result here however interim oil shows can and should be expected along the way.
Beibu Gulf Oil and Gas, 5%, Offshore China
Last year the Beibu Gulf JV discovered Oil with an estimated recoverable resource of 20M bls - 40M bls of oil, steps have been taken to commence production from this new discovery
However of great interest is the fact that FAR is participating in a follow up exploration program of 4 wells.
Success at any one of the 4 wells should add 4c to FAR's value
The first well spudded on the 1st Jan and 24hrs later was already at 560m's of a total 2,425m depth, at this rate TD should be reached by Monday the 7th ie this monday
As these exploration wells are follow ups to the discovery and based on the same high quality 3D as that of the discovery Wildcat the probability of a success here is much higher than usual.
Australian Projects Oil and Gas, 10%, Australia
The company has a few Oil and Gas projects in Australia, with its main ones being that of the Canning Basin projects
Although Valentine failed to encounter any hydrocarbons, there is still hope that Stokes may be able to produce some small commercial quantities of oil and gas,
Follow up drilling is planned in the coming months
Canadian Projects Oil and Gas, 15% - 35%, Canada
FAR has completed extensive 3D seismic over some of its Canadian prospects and now intends to market/farm them out
Marketing was scheduled to begin in December with target/lead sizes etc etc
Senegal Oil and Gas, 30%, Offshore West Africa
FAR is partnered with Hunt Oil and main present an attractive take over target depending on the size and quality of the leads it identifies, it must be remembered that this is the acerage that took Hardman from $10m to over $1.5Billion when it was taken over by Tullow Oil,
I'm sure Tullow, Hunt, Petrobras and Petronas are all watching and waiting to see what the High quality 3D seismic uncovers
The results of the survey are somewhat overdue (as with most resource projects) however I believe this holds the wild card for a rather large re-rating, as expectations are that FAR has many 400M bl + to 1Billion Barrel + targets within its acerage
[ 本帖最后由 angelatu 于 2008-1-3 23:48 编辑 ] |
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想念不如实践-煎饼 (2006-11-19) datou2z 
发表于 2008-1-3 23:41
