FAR

In 2010 and 2011, I was dabbling with FAR because of its African acreage and sold out when it was unsuccessful with its initial exploration result.  Of course, I made a loss but it wasn't a disaster as I bought before it became a more speculative stock.

But in 2014, it is the most successful explorer; possibly hitting a 1-billion barrel deposit off Senegal.  It had to get joint partners as it is too expensive for a small company to explore.  More exploration wells are scheduled.

After an excellent write-up in The Australian, I purchased some FAR shares by getting rid of a failing stock and a going-nowhere stock.  Because I could sense how the stock SHOULD move, I bought it at market price as I wanted the shares.  In 3 days, it has gone up by more than 13%.  If the appraisal drilling confirms or extends the size, I would expect a rerating.  And if another hit is obtained with another drilling later this year, then this stock would be taken over...