Ann: Investor Presentation , page-25

Interesting post and perspective Shovel
If Anadarko do find oil traces or gas at Kiboko, an L6 farm in agreement will follow pretty well immediately. That will give FAR another 1 or 2 free carried exploration wells in its pipeline.
I agree that’s still not enough to spark a T/O, even though it will push the SP up another few cents.
Then like you say it will all be down to the exploration well results in FAR blocks. Senegal looks the most promising (joining the dots) but if the farm in scenarios in Kenya and possibly Guinea Bissau also come into play then surely the T/O price will be higher than if a success in Senegal stands alone in FAR’s portfolio.
But I guess your point is, if they hit an elephant in Senegal everything else looks like mere mice…. And if they don’t then we all look to Kenya, Guinea Bissau and Aus. But who is to say more funds for more exploration in Senegal won’t come from the current partners.
I think there are a number of scenarios still to come before any thought of a T/O takes place.
One thing is for sure- for a small cap, FAR is heading in the right direction and it is very exciting.