Things are getting interesting and I couldn’t resist joining :
I have always believed that FAR will somehow wrap the ann’d 2C results round CNE CMD and the ann will include more than just the results (I have actually said this in a few posts)
Since posting these comments we have had a few snippets of info like CNE has gone to the market for expressions of interest re the FPSO then the CEO of African Oil stating that CNE has stated that SNE is commercial (IMO he is in such a position not to make such a comment if not well founded!!!)
Now FAR are issuing options that cannot be exercised until the discovery is declared commercial which, as Hotazel has raised, is extremely interesting because of the following:
Traditionally (until Jubilee) discoveries were appraised then declared commercial and the share price rose on appraisal NOT on the declaration of commerciality, also taking Jubilee, the JV were obviously developing the field (so it was obvously commercial) BUT the SP only rose on the results of the appraisal.
So with the trigger of the options being the declaration of commerciality it makes sense to me that management now knows this ann will be made BEFORE appraisal begins so that they get their just rewards on results of the appraisal however am not willing to speculate at this time when this will be but strongly sense it could be in May/June sometime.
Hope the above makes sense LOL
good time ahead I believe HKP
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(20min delay)