me hands are tied, page-2

MS agree not a lot ME can announce at present while we wait for Ophir announcement on Senegal option. Feedback I got after calling the office after the Kora drill was that FAR management while disappointed with the Kora result and dismal failure of Rocksource CSEM technology still did not rule out Ophir taking up the option as FAR's Senegal blocks are in a different basin. More importantly if Ophir did not go ahead ith the option, which by the way were my thoughts at the time based on Kora, then the positive aspect was FAR's then goes back to being operator with a 90% stake to negotiate with, therefore placing them in a stronger position to negotiate a better deal.

This link that Waywest posted Upbeat article on Bloomberg on FAR especially the bit about 1 bill boe target. (http://www.bloomberg.com/news/2011-09-02/senegal-plans-offshore-oil-drilling-in-2012-as-west-african-output-grows.html ) shows Petrosen upbeat on FAR getting the Presidential decree. FAR's 1 bill "Buried Hill Target" is in only approx 1000/1200m water depth approx and we can see how quickly Noble jumped on Kora so IMO if Ophir opt in then it's good news, but if Ophir opt out then again IMO I think the Presidential Decree will come anyway.

Interesting in yesterday's FAR half yearly announcement ME stated they were still looking at being free carried and recovering costs in Senegal's first well next year which seems to indicated things are moving behind the scenes. Unfortunately as FAR lick their wounds only time and patience will tell.

Once the Presidential Decree comes through I would like ME to prioritise listing on the London AIM as the "Africa down under" conference clearly shows FAR has an impressive holding of Offshore WA acreage backed up with 2D & 3D surveys showing multiple large targets waiting to be drilled. Listing on AIM I'm certain would raise funds quickly to facilitate drilling these blocks. Thoughts on this welcomed.

PDYOR