Hopefully a green day today, page-80

Hi All

Obviously we are all spending a lot of time thinking FAR ahead. Just another thought.

Cath's Q&A makes a real point about moving to production at a time when capex costs are at historic lows. This is a classic poker play. Now, Mr Predator, you might well be assuming FAR cannot possibly afford to ride SNE to production. Well I'm now indicating that I have an ace in the hole. Maybe I do just have the option to go all the way.

Bluffing or not? Your call.

Does FAR have the ace? Maybe it is possible. Let's say SNE does top a billion barrels, with 150m net to FAR as proven reserves. (Ignore for a moment the Buried Hills, the Fans, DFF et al.) FAR then has another funding option open to it - debt. Plus, I'm sure it could find a partner (one of Phillip's suggestions, maybe?) who might be willing to stump up capital for a slice of the 15%.

We have thus far all assumed FAR has no intention to stay the distance, but our Chairman did tell the AGM we needed to assume we'd reach production and plan accordingly.

Let's face it, Doc Norman and Nic the Kid are sitting on a pretty nice hand ... but they do gotta know when to hold 'em and know when to fold 'em.

OOO