Amazing posts over the last 24 hours. Thank you all.
I can't add anything except this:
I think that the timing and urgency of the CR suggests that FAR is raising money to go after the two new prospects being released in Senegal.
IMHO FAR is in the box seat for those and wants to leverage their position swiftly. They have the relationships, expertise, experience and initial success in Senegal, and probably best of all some trust with the Government. FAR has single handedly brought success to the Senegalese government. When Shell walked away, FAR stayed. FAR sold in the new partners and have already proven they can do what it takes to develop off shore Senegal. The government and ministers there have already said they want to own more of the development of these block, which is in line with what some other African countries are doing. Building expertise, jobs and companies within their own durastiction as part of their nation building, and not farming all the profits off shore. If I was them I would want FAR front and centre as the first partner in these blocks.
If FAR was successfull in getting these new blocks imagine what it will do for the company strategically, not in the least giving them a stronger position with their current partners.
this is my favoured senario, and I believe this is the only senario that demands such urgency at this time.
it may be that Cath already got a hand shake on this when Senegal announced the discover recently and has gone off to find the cash to help broker the deal.
think of it this way- if my broker had just made me a fortune, would I want to change brokers? Or would I want to stick my next investment in with the one that has already given me success. It's a no brainer...
i reckon we can at least dream about some sweet new licences being announced in the FAR portfolio in the next few weeks, and if that's the case it will be big news.
Giddy up FAR
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