expectations, page-27

Ben

This would be the scenario in a perfect world, but, what if both return dry holes, FAR is left with two leases which potentially noone would want a look at, especially Senegal.

I think FAR mgt would definitely rather lock in something rather than free ride it, as good as it would seem.

I remember not tooo long back, some might remember, MEO were days from putting the drill bit into Artemis, the SP was rising, enthusiasm at all time highs and all of a sudden MEO announce, basically, a CR, right in the middle of the Artemis euphoria.

turned out to be a masterstroke, Aremis was a dry hole, SP plummeted to cash value, luckily, the 50m CR put a decent floor under that cash backing and they had a nice, healthy looking balance sheet

IMO, same scenario is what i would prefer with FAR, as nice as it would be to be sitting on 90% of 100m barrels of high quality oil, its just not the best option, especially when its high risk exploratory drillin in unproven areas.

what do other FAR holders think??