Ann: FAR update, page-76

Received a response from FAR in reply to some questions I asked yesterday.

Q1. Is FAR's cash balance held in USD?
A1. We have a policy of holding the majority of cash in USD. We currently have a combination of USD & AUD. The exchange rate used for yesterday's announcement was 60c.

Q2. Debt funding in announcement was vague and evasive in my opinion. What debt is effected?
A2. When we talked about debt, we were not being evasive, we were talkingabout debt in general. We believe that in this climate, finalising debtarrangements (both senior and junior) will be challenged). The underwriters ofthe senior debt have not withdrawn from the commitment they made to FAR.However, with the global market being where it is, we feel it will bechallenged to finalise debt arrangements for both the senior and juniorlenders.

Focus has shifted to conserving cash and working with the JV to slowdown activity – the reality is that Senegal has gone into lockdown now and itwill be very difficult to deliver a project under these circumstances.