Ann: Quarterly Activities Report, page-27

Both FAR, CNE and COP are going through the Audit process at moment and I would expect that Contingent Resource estimates will be reviewed by Qualified Person especially considering how conservative COP are with SEC only allowing Proved, Probable, Possible classifications and they use Resources in their Conference Call this morning.

Nearly all will be known by the time of the FAR AGM except probably the Government endorsed Appraisal and Exploration Plan (ie this years work program and budget submitted to Senegal Govt)

The two interesting things from announcement besides the organisation change/strategic position with now a COO and new Exec for Capital Management (can I see the glimmer of a future KOSMOS business model) for FAR are the concentration of shares in Top 10 Shareholders (now 33 % in Top 10 and in 2013 Top 20 represented 33% - also FlowTeck Consultant seem to have sold out !!!) (last page which I always read first) and the amount of Gas is unknown in SNE 1 and also likely in other shelf prospects where oil has been effectively trapped for a very long time.

The Gas cap was an effective bargaining tool in Ghana which is about to commission its Gas pipeline.

Need to watch what happens to Senegal's new Greenfield site Power station to see if it is slowed down a touch until there is clarity on the Gas/Power generation front.

Well stick FAR in bottom drawer until AGM which could be an interesting and must attend event.

I wonder what CN will be doing now with a COO -?? (Transformaing FAR I expect !!!)

regards

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