This is what it comes down to, page-21

So, given that Cajun is still hovering over FAN-1,  what are possible announcement re "Senegal drilling program"?

1. P and A: This was always touted due to nature of this exploratory (aka wildcat) drill.

2. (Mooted) Success but need further exploration .....aka money

3. Success beyond our wildest dreams.

Given phrase, "Senegal drilling program", this clearly implies  program related issue(s). Could be abandon entire program and given Cairn's recent cost cutting measures, this could be a possibility, esp if FAN-1 is disappointing.

Need more money to catch this elephant. The only way FAR could raise any money would be if Cairn permitted "leakage" of some good news....Yes we have liquid hydrocarbons but need to assess depth. In this case, even I would further participate....in fact already did on the market.

Option 3 - as a straight option.....outside possibility .

Almost there....good luck

MS

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