This is going to hurt., page-9

Cobyau,

I have to disagree with you on some of your remarks.
Until recently, Kenya was one of the more stable African countries from a sovereign risk perspective. That started to chang following the recent terrorist attack at a Kenyian Mall (Sept 2013).

I had discussion with CN on 29 April and asked why the L6 farmout (which was touted loudly by the company over the past year or more - and then went quiet), CN advised that the L6 farmout was reaching conclusion just as the Sept strike took place. CN said the the prospective farminee simply took their bags and walked away in totality. Nothing further discussed.

Now FAR is into a new L6 farmout process. Hopefully it is a proponent/entity that has ability to look into the future (as I would like to believe will be the case) because, as you say, these events occur every day in Africa (but less in stablized democratic Africa countries), and some of these players pretty much got used to these scenarios over the years.

(Please don't think I'm insensitive about what has just occured - what I've stated is fact)

I expect that FAR will nevertheless take a further hit on this and it seems we will have to be patient for a little longer.

GLTA