Ann: FAR obtains additional 10% interest in Gambian blocks, page-98

There’s muchos delusion around.
Gambia hasn’t got any oil.
And FAR has just given away millions of your money in order to prove that.
But how can they afford to sign up to big commitment with SNE about to get sanction?
I think the answer to that is that they’re betting that SNE won’t be sanctioned!
My gut tells me Woody won’t sanction it for reasons I’ve stated before.
They’ll say to the government “We’re ready to go but our JV partners are not and that includes your national oil company. None of em have got the money. And on top of that, the arbitration hasn’t been settled. How can we move forward? We’ve only got 35%. It’s not our fault. Give us another couple of years...we’ll go back to the drawing board, get the cost down, retender all the contracts and get a better deal.”
And I think the government wIll agree.
FAR can say,..OK then. In the meantime will waste some money in Gambia
Christ knows what CNE will do. So much for the world class discovery in 2014.
But I think that’s how it’s gonna run.
It was always gonna be like this when 65% of yer JV ain’t got any money. Very different from back in the day when small oilies could get funds easily.
Lets see. Not long to go now.