Ann: Oil samples recovered in FAN-1 exploration well Senegal, page-199

Thanks for Posts they have been very informative.
I had my part of my Equity "Trading" Budget in FAR so exited the other day when they opened.

Made a good trading profit.

I am back now with part of my Investment Budget (profits from trading) as the value in FAR will take over a year to play out.

Senegal is great news (terrific is an term used often by "English" people and really means no better or a rating of 5 on a 5 point scale) oil system is present and really all that needs to be disclosed to ASX in an exploration well trying to confirm/deny the geological theory.

Quantity of oil is irrelevant and next 3-4 objectives will reveal further where it has gone. Is there a good seal over reservoirs below which explains the low seepage or are these breadcrumbs from oil migration to the next well at SNE reservoirs. Two very important questions to be answered.

In any event the market value change to FAR has now settled down with traders exiting and more patient capital entering AND the change in the value of the Senegal lease acreage has increased materially.

CAIRN's attention is elsewhere hence the "tight" well - North Sea Oil production coming on stream, brutal budget cuts (including offshore excploration budgets in future years) and a billion pound sale of CAIRN India held up by India Giovernment over tax issues.

Never mind the Scottish referendum and the impact this has on everything oil related.

Management is under the pump to deliver so getting Board approval for press releases on an exploration well in Senegal would be ill advised - keep your head down and let geologists collect their data ie just a very expensive and confirming data gathering much better than seismics.

The results will come out slowly (they seem to drill at 40 metres per day) and Target Depth keeps changing from 5300 m to about 5000 m. I put this down to getting final answer at 5000 m. and saving 300 m drilling (7 days at 1/2 million per day is saving $3.5 million) for no better answer.

Well will read any responses and check in once a month which is my monitoring period for my Investment Portfolio.

Good luck and warm regards

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