Grem - A companies market cap really has nothing to do with their buying or selling of prospects. I assume you have never worked on a capital budgeting program before.
CCP is spending $16.37b on capital projects in 2014. 13% is on exploration - $2.17B - 60% of that is on conventional plays (such as Senegal) - $1.30B. The two holes into Senegal are costing $190m - Cairns is paying $80m.
The $110 that CCP must be paying is 8% of their exploration budget, I'm not sure how many capital programs you have worked on but in my experience...companies don't just pull that money out of their pocket.
Given they could allocate those $$% to Browse or the GoM to put the money into Senegal means they believe there is a decent chance of return.
FAR Price at posting:
5.8¢ Sentiment: Hold Disclosure: Held
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