company update

This is a Far company update

Thank you for your email. Please be advised the following in response to your questions:



1. Our most recent release regarding the spud date of Kora gave an estimated spud date of mid-May, subject to delays. Since this release, Hess, who have the Maersk Deliverer rig contracted in Ghana, has reported that they have made a discovery and would require a further two weeks to complete their drilling program. We do not have a firm spud date for the Kora well at this stage but expect to make a release once the rig has been handed over by Hess for mobilisation to our licences.

2. Yes, as noted in our March quarterly activities report we continued active discussions with a number of interested parties during the quarter. This continues to be the case.

3. Our March quarterly activities report also noted the following; “In early April 2011, a further delegation comprising three representatives from FAR and Ophir’s Country Manager held meetings with Petrosen and obtained consents sought under the Agreement giving Ophir the ability to acquire a 25 percent interest in the Senegal blocks. The delegation was warmly received and assurances were again provided that the issuance of a Decree concerning FAR’s PSC would be made in due course.”



Regards

Info at FAR Ltd

All looks good imo