Ann: Robust development economics for SNE oil field, Senegal, page-29

"FAR will be fully funded through to first oil from SNE in late 2022."

Hi Ben a little note of caution regarding finance....among the mix of options considered is this.

"‒ A placement of strategic equity, which would reduce or remove the residual public market equity funding requirement."

A very interesting report and I guess the biggest change is buying the FPSO as opposed to leasing, that will reduce operating costs per barrel and increase Capex , however it would be the most economic way over the life of the field...I just hope it has provision to cope with more oil, FAR has often mentioned up to 140,000 BOPD , that figure would likely include a gas eqyivalent proportion.

So compared with their last update the comparable figures now per Bbl in US$ based on US$ 65 Bbl are:

Operating costs $16.60 now $11
Capex cost $16.6 now $18.2
Govt share $4.8 now $5.5
Corporate tax $9.9 now $11.5
FAR free cash flow...$17.4 now $18.8..

Cheers Whisky