jv in november

Here is a brief summary of recent action of the West Coast of Africa and why FAR IMO will have a JV in place well before The November extension deadline.

Excerpt from Hartleys Report Sep 2009

We understand that both play types and at least one other were the subject of interest for several of the potential farm-in partners.
These plays have not been invalidated by the CSEM, in our opinion, and remain prospective.

FAR has indicated that it has received several unsolicited approaches subsequent to the decision of Shell not to drill.
The West African margin is also likely to attract increased interest due to the
recent Venus discovery by Anadarko, offshore Sierra Leone.

Sierra Leone High Oil Prospects,
More Bids Pour in 18th Sept 2009

Authorities at the National Oil Company of Liberia (NACOL) say high oil prospects here, as reported in Liberian and Sierra Leone waters, have sparked off more interests in its third round of bids for five of the country's oil blocks stretching towards the eastern part of the country near Ivory Coast
"We are on the verge of conducting a third bid round and we are getting calls from all over the place responding to the third bid," Dr. Kromah said. "We are very excited about this," he said.


Fight For Ghana's Oil:
Exxon vs China 12th October t 2009

...China, Ghana petroleum co in talks .
.. Kosmos To Sell To Exxon Mobil: WSJ ..
... GNPC says Kosmos sale bid illegal
... Officials in Ghana says no approval yet
... GNPC ready to buy entire Kosmos stake
... Morgan Stanley hired to advice

The government is divided over whether to cut a deal with a leading Chinese oil company or with Exxon Mobil Corp. to develop a giant offshore oil field.

China National Offshore Oil Corp is in talks with State-run Ghana National Petroleum Corp to bid for a stake in a large oil discovery off West Africa, the Wall Street Journal reported on Monday, citing unnamed sources.
The offer for Kosmos Energy's stake in the discovery, Jubilee, would rival a $4 billion bid by Exxon Mobil Corp, the Journal said.
The paper said CNOOC and GNPC plan to submit a strong competing bid in the next few days, citing one person familiar with the matter.