my interpretation, page-5

Windsong,

I don't believe the announcement will be anytime soon. It took months to get Shell on board initially and ME has hinted that it may take several months to sign up a new JV partner.

Maybe I'm right, maybe I'm not. At the end of the day it doesn't realy matter because I'm invested in this company, not actively trading it.

There is quite alot of positives from the latest announcement:
# Extension finally confirmed in writing.
# Confirms unsolicited approaches from several large international exploration and production companies including companies with existing operations in Deep Water West Africa.
# The basis of the extension being granted (already reported but still important)
# Recent discoveries offshore Sierra Leone & offshore Ghana. (both south of Senegal)
# Time and cost of drilling deepwater wells in West Africa has reduced significantly based on papers presented at the 16th Africa Oil Week Conference during November.
# Forward planning to identify new opportunities invloving the farmout of the Senegal Licence area (moving to a more advanced stage)

There is alot to be excited about but still alot of risk involved.

Good luck all.

jd