waiting for senegal extension, page-43

'FAR have $36 million now,plus 3 million to come from Beibu Gulf.That would be the bulk of the capital required IMO.They could easily afford to be the major contributor to a well.'

Elguido

The Kora well is $40m and from memory is in shallower waters than the Senegal targets. FAR's contribution to this is $6m.

So the $36m cash + $3m from China - $6m for Kora = $33m.

There is NO WAY that FAR will be able to drill a well alone in Senegal for $33m. Even if they could, what does that leave for administartion, further exploration, convertibale note payments etc etc.

You have said 'Major Contributor' to the well, this still involves finding some smaller contributors.

Does FAR have the expertise to drill deep sea wells?

I regard your posts valuable and insightful but I think your way off the mark here.

Each to their own