What we know and what's next?, page-19

Hardmano,

I agree with what you're saying.

Four things I have no doubt about whatsoever.
1. FAN 1 and SNE 1 is much larger than what is publicly announced. SNE is already confirmed as larger than pre drill estimates, I have it from good authority even that figure would be upgraded again substantially and will more than offset the fact that the bottom layer didn't come in. I think the SP is a result of "quick buck" traders. The quick recovery to 10 yesterday proved that.
2. FAR has a very good relationship with Senegal not withstanding the CNE CEO being a bit "pally" with the President. FAR is still the operator for the lease, as against CNE being the operator for just the drilling of FAN and SNE. Just look at the format of the news released. Bar the last one, all releases were basically FAR's wording. In the President's eyes, the success must reflect on FAR and msut be looking at FAR favorably.
3. As you said, there are things that must be happening behind the scene. I am certain of that and one of them would be getting more leases. In spite of the us whinging about the 'Tight hole' policy, it is in FAR's interest to have that commercial advantage in this situation. CN is doing a good job. I still do not know what CN meant (going back before the good results were known) "Kenya will depend on the outcome of Senegal".
4. There are predators circling and they could be from inside. When it comes to oil $'s,
you can't trust anyone.

SP is looking stronger and because of my procrastination, I've missed my opportunity at 9.2c. Such is life and I am happy it's recovered.

KKW