FAR shares up 75% in 2018 with more potential catalysts to come, page-23

fwiw.

They've finished the appraisal drilling program at SNE. Since then, the JV submitted a draft of the environmental impact assessment plan (ESIA) on 26June 2018 (wpl qtrly). Public hearing commences in Q3 2018. JV also received the tender response from various contractors for the FPSO, rig vendors & tubulars etc.

FEED is planned for Q4 2018. FID by Q2 2019. First oil by 2021-'23.

That should give them an idea of the costs & contingencies for Phase-1 where they plan to produce Oil from the 520 series sands at SNE, apprx 200-240 mmbbls, from a combination of 25 wells including producers, water injectors & gas injector. Phase 2 will target the remaining oil.

Cairn normally do a Half Yearly conference call in mid August. This year its on the 11th of Sept. Doubt FAR will say anything before the Operator.

So hopefully by September they would have lodged their Field Evaluation report and then later in the year full field development proposal, i.e, Exploitation program.

That's my take on this. Hope this helps.