FAR ... something a foot and announcement due. Pace picked up this morning after yesterdays 15 mill odd in turnoever.KLS .... something special to happen 4th April do not know what as it is all cloak and dagger.Kurnalpi ... to go dot.com using B2B technology.
Picked this up from another site.FARAny company whose share price bolts forward 37.5% in a day's trading is bound to arouse attention. First Australian Resources (FAR) Limited, a company with oil and gas exploration interests in Australia and PNG and production and exploration interests in the US, has achieved this feat. This is not unexpected when one studies recent trends. FAR's price has been steadily increasing over the last month from 12 cents on 24 February to today's closing price of 27.5 cents, an increase of almost 230%. Why the sudden rise? An announcement was made on 31 January 2000 flagging FAR's intention to pursue "high tech" and Internet opportunities. On 15 February FAR entered into a new drilling venture with American miners Goodrich Petroleum Corporation. The program covers four prospects located in Louisiana. Later that month FAR resolved to place 12 million ordinary fully paid shares at an issue price of 10 cents a share, with one free option for every four shares, to raise $1.2 million. The ASX asked for an explanation of the share price surge on 29 February, to which FAR played a straight bat, stating that nothing had changed since the January announcement. On 9 March, FAR reported that it would list in the US through an American Depositary Receipts ("ADR") programme. On 14 March FAR announced a further placement, of two million shares at 16 cents, to raise $320,000. FAR's most recent report to the ASX, which was positive but seemingly not promising enough to explain the share-price surge, came on 16 February. Good gas shows were reported from the Silmon et al #1 well at the South Drew Prospect in Ouachita Parish, Louisiana. Mudlog readings increased from a background level of 25 units to 430 units of gas in a drilling break over the interval from 9,332 to 9,374 feet. Unsurprisingly, the ASX today requested further information from FAR. The company responded that it was continuing to pursue the strategies outlined in the announcement made on 31 January but has no specific proposal or arrangement that is sufficiently definite to be announced. FAR says it is unaware of any relevant information concerning the company that has not been made available to the market. FAR is engaged in confidential negotiations regarding "new economy" proposals. The company says an announcement will be made as soon as something concrete comes of these negotiations. FAR will not say whether or when this will occur.
Note also in that latest news report that they are looking at a possible 10 billion cubic feet of gas from that site.This is spectacular enough to drive the markets is it not? Sorry I do not know whether Santos ahs something better but it appears to be a hellofa lot of cubic feet!
Found this on the net as well. Some info in report stated as being unverified, do own research.KLS announced on the 3/2/00,their heads of agreement for the aquisition of 30%, of First inMail Australia Pty Ltd (Finmail), announcement attatched. I do not intend to go over to much history, the company announcements attatched will dothat hopefully. Finmail is unified messaging technology, with the exception being as I have beentold,Finmail is the best unified messaging technology available. Finmail is the australian version of the american unified messaging technology TEMSTornado Electronic Messaging System, which in the announcement of KLS aquisition of finmail you should find a web link to thetems web site by clicking on the highlighted word tems. I am told finmail is 5th generation technology, where as some of the competitors are only1st generation technology as I understand it. Finmail, while suitable for the individual client, is more aimed at the corporate client. Thefinmail product will be launched to the market place at a telecommunications expo held in Sydney on 4/4/00. As I understand several corporate clients have already been shown the technology, theseinclude NZ Post, Aust Post, Telstra,Fairfax,Phoneware,as well as some of the competitors are also looking at usingfinmails technology. Niel Biddle was appointed a director of KLS,(see attatched announcement), Niel I am toldwas the person who introduced the com secure deal to WSM, and as I understand is still a director of WSM. Niel I am told has many contacts and is well known in the corporate world, and has a largefollowing of investors, the other director appointment to KLS recently, I know little about, see attatched announcement. KLS as I understand have options to take their holding in Finmail to the 100% level, thesewill be exercised,depending on the products success in the market place. I believe discussions have been held with the above mentioned corporate clients,as to thefinmail product, the progress of these and the acceptance of the product,will in time become known. Finally I am told the finmail product,through the American parent company Tems intend tomaintain their market leadership and competitive edge, with futher development and research, which enables the exsistingproduct to be value added in the future.
From what I can gather the technology is far superior to MBox (Impress Trech).We will wait and see ..... 4th April
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