Ann: FAR files for arbitration, page-14

At the AGM, Ben Clube told me arbitration was "a question of timing". How's this look?

> FAR confirms giant CNOOC as its financial backer.

> Senegal Government gives FAR thumbs-up to go. Happened a fortnight ago.

> RISC evaluates FAR's numbers on SNE-5, SNE-6, VR-1 and connectivity. RISC was working at FAR at AGM time. I suspect its report must be imminent.

> The first appraisal - sorry, exploration - well in Fan South nears TD. Oil majors await with bated breath.

> Cairn releases official JV revision of SNE - August.

The pressure on Pete Coleman's agates ratchets up another notch. The Goliath with everything to lose gets called out into the street by little David with nothing to lose ...

But a bloody lot to gain.

OOO