FAR 1.03% 49.0¢ far limited

Juicier target CNE or FAR, page-126

  1. 14,132 Posts.
    lightbulb Created with Sketch. 705
    The current Exploration PSC is quite explicit.

    QUOTE
    If a discovery of Hydrocarbons is declared commercially exploitable, the Contractor shall request, on the date of submission of the plan for the development and putting into operation of the Commercial Deposit concerned, and shall obtain, by decree, in accordance with the provisions of the Petroleum Code, Operating authorization relating to the Exploitation Perimeter of the Deposit granted for a period of twenty-five (25) years and relating to the extent of the commercial deposit within the current Contractual Area.
    ENDQUOTE

    Only once DOC is declared by the JV can a contractor submit a development plan for exploitation and in accordance with the petroleum code (which is about to change in the Arete) the Senegal Government will need to approve and grant the licence. The MSGBC conference explained that Senegal want to run the applications for the exploitation as a competitive bidding process. Mamadou Faye at the conference also had a talking point "What this means for existing licence holders" which I would dearly love to get a hold of. Its important for FAR!

    https://translate.google.com.au/tra...hui-ne-couvrent-que-lexploration/&prev=search

    Now i read elsewhere but buggered if I can remember exactly where - that the "operatorship" of the exploration PSC carries over to the production PSC. take this as dubious for now till I can find the reference again.
 
watchlist Created with Sketch. Add FAR (ASX) to my watchlist
(20min delay)
Last
49.0¢
Change
0.005(1.03%)
Mkt cap ! $45.28M
Open High Low Value Volume
48.5¢ 49.3¢ 48.5¢ $45.82K 94.37K

Buyers (Bids)

No. Vol. Price($)
1 2773 49.0¢
 

Sellers (Offers)

Price($) Vol. No.
50.0¢ 45200 3
View Market Depth
Last trade - 15.59pm 12/08/2024 (20 minute delay) ?
FAR (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.