Cath In The Gambia, page-5

Bonsoir mes amis,

It would please me to no end (and that's what's truly important here... that which pleases me), if FAR could contract the Stenna DrillMax to poke these upcoming holes in the A2/A5 blocks. That blessed, blessed boat- with so much good mojo. Being a long-time baller, I have generated my own peculiar pre-game superstitions over the years- as a player and a coach. If I were in the decision-making sphere (everyone now sigh in relief that I am actually not), then I would consider tailoring the start of the drilling campaign around the availability of the DrillMax- she's well-manned and very, very good luck.

We will farm-down into a JOA- likely w/ CNOOC (free-carry hoped for, and somewhat anticipated). A company of that size could actually have their own drill rigs.... I don't know, but it wouldn't surprise me if they did, and of course, they (we) would use theirs if that were the case.

I'd love to stick a hole or two prior to entering into a JOA, in order to maximally strengthen our bargaining position. But that would burn significant cash, and I seriously doubt it would happen. I think (hope) we're looking at an announcement relatively soon (weeks to year's end?) r.e. a JOA with CNOOC in The Gambia. If it doesn't negatively impact moving forward toward production in SNE, and it certainly shouldn't if the farm-down deal is most favorable (i.e. free-carry, retain 40+%), then I say let's have at it. I want to see us really move on A2/A5.

-walk