another farmin perhaps...and still a producer.

Sydney - Monday - August 24: (RWE Australian Business News) -
Shell Exploration Company BV has told First Australian Resources Ltd
(ASX:FAR) that it has decided not to exercise an option in respect of
Sangomar Offshore, Rufisque Offshore and Sangomar deep offshore blocks
in Senegal, West Africa.
The decision by Shell follows the completion of a Shell-funded
CSEM data acquisition and geophysical evaluation program over part of
the licence area, where a number of drilling prospects have already been
identified by FAR and its partner Petrosen.
Following Shell's decision, FAR will be paid $US3m within 10
business days and recoup about $US500,000 in past expenditures.
FAR will retain its 90pc interest in the licences and Petrosen
will hold the remaining 10pc.
FAR will continue as operator and retain full authority to use
the technical report and CSEM data for all purposes, including the
purpose of seeking an alternative farm-in partner.
It is now free to start discussions with other potential farm-in
partners and will seek an extension to the current licence period that
expires on November 22.


was never a holder of FAR but seems to me the agreement wasnt over the risk of the tenement but perhaps deal agreement. Should be able to find another one quite easily if they relax the agreement a little which I believe should be still beneficial to them....

and guess what, all else fails.....they are still a PRODUCER, a well respected merit in itself. Although not a big one....

all the best to holders