it's out, page-28

Great to have a positive announcement at last. Here's hoping we have a lot more to come including GB.

Given the cost for seismic, CSEM etc that Ophir has spent to date on Kora pre-spud, $6 mill for 10% of the action IMO is cheap & most likely reflects the negotiated price for Senegal JV, conditional on Senegal Gov approval. IMO this shouldn?t be a problem given Ophirs reputation & expertise.

Would have been nice to have no conditions attached but the positive thing is as far as I read it, is the 60 day conditional period is after the Kora result which was probably going to be influential on a Senegal JV anyway.

This way we share the profits of a positive Kora drill result & move straight into Senegal drilling phase with one of the most experience operators in deep sea West Africa.

Hat goes off again to ME as he has given FAR a play in over 13,000 km2 of West African Coast for the unbelievably small sum of $6.6 mill:

1) Senegal 90% multi Bill boe potential - Nil cost handed over from Hunt Oil

2) 15% Guinea Bissau play with 240 mill boe discovery with further upside - $600,000 US

3) Now 10% in a 448 mill boe play (positive CSEM results) with ophir for $6 mill

Talk about great results with a shoe string budget.

All this can only lead to Good times ahead. Bring on 2011.

PDYOR