Rolla,
You may be right and that FAR will roll the dice - ie wait for Gambia result.
But I would disagree for the following reasons:
1. Petronas has set a cap of USD $45M,
2. FAR has never been an Operator before, so they need to budget for possible cost blowout,
3. FAR has to carry Erin's portion of $8M,
4. Gambia is an Exploration well - despite the COS, there are a lot of risks,
5. Cath's action in relation to the in-the-money options would suggest she is going to play is safe - that's her MO, and
6. CNE (in addition to WPL) has also suggested further drilling in the 2H of 2018.
I don't think they have come this FAR, to risk running out of cash and then to be taken over on the cheap.
AIMHO.
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