Senegal to award two offshore oil licences by year-end -Petrosen, page-6

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Of course the Sengalese are going to "talk it up". Nevertheless, Kosmos buying in to another block for $400m won't hurt valuations for FAR's assets and by that I mean its other prospects offshore Senegal AND its Kenyan assets.

Lots of speculation and opinions here about what we are going to hear next about FAN-1. I reckon it could be a few weeks before we get more detailed information on what they have found and even then given the tight hole it might not be that detailed. So we are going to have to continue unfortunately to read between the lines and interpret events and news. Like what the Sengalese have just said and Kosmos buying into another block for big bucks!

The fear of a CR could keep a cap on the price until we see more definitive news. I'm still thinking that a sale of stock at a premium to a major like COP or Shell as a blocking stake is the best way to go rather than dishing out more shares to sophisticated investors (who are they?) or institutions.

H