onedb1
18 Dec 2014
Re: Presentation Yes it does . But they seem pretty confident it will be renewed
in-vester
18 Dec 2014
presentation sorry about this,the answer to my question is yes.The option runs out 31st dec,it was in the last rns silly me.
OLADAPO OGUN
18 Dec 2014
Re: presentation Would be nice to see Carol present once the farm outs are completed. Will did mention not being able to buy currently as he has just bought a house. How viable celtic sea is given the current oil price imho continues to be a worry. Tendrara given its 4tcf of identified conventional potential and well over 62 tcf unconventional potential continues to be a future potential SP accelerator. Tendrara with its resources could be the new ruvuma.
freelance2
18 Dec 2014
Re: presentation - onedb1 onedb1, thank you for the feedback on the presentation with Fastnet, very helpful. A pity it was difficult to question Will Holland closely. Instead of treating it as humorous, he could have told us where the strong rumours of the medical company diversion/cashback came from, why there was no proper and clear denial in the RNS, and why Paul Griffiths has moved on at this critical and difficult time for Fastnet. freelance
in-vester
18 Dec 2014
Presentation Does the tendrara option lapse 31st dec?
White stick Investments
18 Dec 2014
Thanks onedb1 Thank you! Nice to get a clearing up of the Medical rumour at last.There were two PUBLISHED rumours, cash return and medical. Neither were refuted in the R.N.S. ' we are considering all options'. This should have been jumped on. A Board and P.R. mistake.I wish you all a Merry Christmas and prosperous New Year. P
onedb1
17 Dec 2014
Re: presentation oh sorry was away from this bb today .Here I am . So to start off , WH brushed off the fantasy rumour of becoming a medical technology company , though I wished I had interrupted him as the rumour brought the share down from the mid 5s to sub 3p . Indeed most knew it was a mad , but the share price on that day tanked . A bit of a nuisance when he was presenting lately with 10/15p targets post a Celtic Sea farm out . The audience thought it was funny that such rumour existed and I guess not many knew as not all must have been there for FAST , as two other companies presented first . So despite the rumour being hogwash I thought he was going to use some harsh words as investors saw quite a drop in the share price as a result. Then the presentation continued focusing on 1. Trying to reduce running costs from current level to about $2m from current $3.3m 2. Majors cutting costs and this means exploration funds are being reduced till a stable oil price/environment is found .3. BUT oil companies still need to replenish their reserves , therefore exploration cannot stop. US shale oil risks cutting around 4m barrels of daily oil output which should reverse the demand supply imbalance globally of around an over supply of 1m. 4. Foum Assaka - did not find commercial oil, but it was encouraging for further drilling. 5. We were given some gas prices in Morocco & Algeria where gas prices are high and not falling. As we know from previous presentations Morocco has the tax advantage hence cost per barrel is very low compared to other countries . 6. Tendrara was on my mind as we have an option which needs to be renewed . He seemed confident it would happen shortly and that a deal is pretty close. He then repeated that the main pipeline leading into Europe is pretty close Plus domestic demand high. 7. If the Tendrara option expired with no extension, he mentioned they will walk away from onshore Morocco. But he seemed very confident it would be renewed as a new explorer etc would have to start all over . Again I wish I had asked why was it left till the last 2 weeks in Dec but hey . We'll soon find out very soon . 8. Celtic Sea - 3D shows seem excellent, but the delay had to be attributed to the majors rebudgeting. It will happen but oil needs to stabilise . 9. A rig in the area is a highly desired asset to have for the majors as costs would significantly be reduced. The details of the presentation will soon be published for all to see on the website ( I checked a moment ago and it was not there yet ) . I left with a little disappointment for not being able to get to talk to him with respect to the current share price . But he stated they had $18m in cash at the end of November so that is £11.556m at current exchange rate i.e. 1.5575 GBP/USD. That cash balance implies 3.34p alone . IF anyone spends a moment reading about the Tendrara resources and money they could stand to make then you'll get an idea of this share's price madness . Especially once we get the jitters of the renewal of the option sorted . We then will in my view get the Celtic Sea assets farm out too. Its only a matter of time , sadly not as fast as we had hoped for. With all the 3D data to add to the above price and the assets value , 2.7p is mad but my disappointment was that had that been me presenting I would have been a bit more passionate about this. Maybe he is about to buy more shares .... 
) who knows. But this could be a massive steal . So even if we use $2.5m for G&A this year and nothing else happens, ( doubtful) under 3p is a bit of a weird one . Make your minds though . Its your money not mine . I am in at 3p and that is my average for good now , till the 2 big farm outs move this to the teens if not even 20p plus . Carol Law is a great CEO to have a bit like a conference team have a Championship near Premiership captain . All the best
in-vester
17 Dec 2014
presentation Would be nice to know what that was.
bobdog2000
17 Dec 2014
Re: Presentation Judging by the slight increase in SP and good volume I imagine that there were some positives?
in-vester
17 Dec 2014
Presentation Yes where is onedb1?
bobdog2000
17 Dec 2014
Re: Presentation tonight in London How was the presentation?
in-vester
16 Dec 2014
onedb1 H,i are you going to the presentation tonight? If so are you going to tell us tomorrow what happened?Congratulations by the way 3p average is fantastic ,unfortunately mine is double that.
onedb1
16 Dec 2014
Presentation tonight in London Should be interesting . Market cap at £9.6m lol !!! Quite funny . Am now averaged at 3p !! Basically at less than cash Never mind the assets and 3D ,Thanks for selling them to me so cheaply I'll send you a postcard from Bora Bora to remind some of what they missed out ) Looking forward to tonight's presentation now
bobdog2000
16 Dec 2014
Re: Takeover? That would be nice. But surely there are many many low hanging fruit in the sector right now?
White stick Investments
16 Dec 2014
Takeover? I'm thinking Fastnet may be being viewed as a take over situation.The market cap. is less than half the cost of the 3D seismic, no value given to the other assets. P
