Ann: Change of Auditor, page-4

Ok then, not much. Seeing BP walk away from block A1 is not inspirational and FAR's purchase price for the remaining 50% was by and large and handful of sand and a couple of shiny rocks, I think we can assume zero.

My take then that a current value of [relatively] liquid assets is contingency payment, post tax (A$62m) and cash (A$53m). Give 98m shares that works out around A$1.16/share. Residual risks are : AUDUSD (assume 0.7); Senegal production profile (start, duration, flow rates) ; price of oil (at or above US$70/bbl).

I can't see any drill commitments or environmental bonds / guarantees.

Looks like lawyers and bankers now in charge of the farm who will be less interested in the sex of discovering oil and more drawn to the sirens of distributed cash.

It's hard to look the other way.

have a great day