GreatPig
Pigs In Space
- Joined
- 9 July 2004
- Posts
- 2,368
- Reactions
- 14
Well this is what I'm watching:
FAR - This is a $50 million oil exploration company.
1. They have 8% interest to the highly promising Canning Basin (Valentine) which they are currently drilling as part of a joint venture. The Valentine resource could hold upto 200 million barrels + gas. Considering oil is $70 a barrel, FAR insterest could be worth around $1.1 billion for the oil alone
AND
2. They have 30% interest in an offshore Senegalese 'oilfield' currently drilling as part of a joint venture. This resource could be in excess of 1billion barrels of oil. At $70 a barrel, FAR insterest could be worth around $21 billion at current prices
And the reasoning I chose to enter ARQ (39% of Valentine).
At the current sp ARQ is one of the best value stocks on the market now, Representative of the closing trades on Friday willing to take the sp back up to 1.41 and the sell side very, very thin now. ARQ had huge buys going through on Thursday at 1.45 and above.
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