a new dawn approaches for far, page-5

Thought this quote was interesting from today's announcement:

"FAR is seeking cost recovery and a free carry through the drilling of one exploratory well."

FAR has $12 million in the bank and another $3 million likely by the end of the year when condition two of the sale of the China interests is achieved.

We now know for certain it is not management's intention to use this $15 million dollars on drilling in Senegal.

From FAR's last quarterly report:

"FORWARD PLANS – POSSIBLE NEW VENTURES
As part of a concerted program involving the planned farmout of the Senegal Licence Area, FAR has initiated a concurrent initiative to identify potential new opportunities with a high impact focus. This initiative is in its preliminary stages and may, if successful, lead to an expansion of FAR’s global exploration portfolio with the objective of driving shareholder value. Due to the commercially sensitive and confidential nature of this process, and in order not to prejudice its chances of success, FAR will not make any public release until such time as binding arrangements, if any, have been reached."

What these "potential new opportunities with a high impact focus" are is yet to be seen. However, one thing is certain. FAR is now a multi-project company, remembering it's North American interests.

This is a whole new ballgame.