block boundarys, page-9

macka...I questioned the reduced licence area back prior to the Shell decision & the reply I got from HO was that they kept the best of it. Considering the "Giant Buried Hill" target - 1 bill boe + potential & the Southern fan play was in the area FAR retained it made sense at the time.

The "Buried Hill" target was the primary target HUNT OIL used to market the Senegal Blocks originally & I assume gained the interest of other party's back a few years ago & I’m sure is still on a few radars now.

Shell chose to target the 3 Fan plays with their CSEM survey & ignored the "Buried Hill" play. I’m also optimistic that the southern fan may still be a drilling target. It was the most prospective fan target identified by the 3D seismic survey with 500 mill boe potential. I found it strange that the Shell CSEM results ruled out the two northern fans (still not 100% conclusive though as CSEM surveys are not always correct) but was inconclusive in the most southern fan. IMO assuming the fans have the same geology, one would think there must have been something going on in the southern fan to return the CSEM anomalies, otherwise I would have thought it would have returned the same results as the other fans. Interested to hear opinions on this from those with a background in this field.

It was a good effort by ME to gain the license extension and also retain the same licence area that FAR has held for the last 12 months. Be nice to have a JV announcement soon but its comforting to know we are not pushed for time & can enjoy the Christmas turkey.

SP volume over the past few weeks show there's still a lot of interest in FAR & as others have posted I think the current world economy & price of crude will allow ME to negotiate a better deal than what we had with Shell. IMO I also think there’s plenty of upside to the current SP which is recovering quickly, I’m sure to the delight of those with a higher SP average. Cheers

Please DYOR