12 months along the risk curve, page-33

Tony, I do tend to agree regarding Cairn. It does seem though that COP and FAR are a little more on the same page. Whether that could transfer into support, only FAR execs would know. Without question Woodsides support of HDR during Chinquetti went a long way to what shareholders finally got with HDR's TO.

FAR gaining the DJ block is potentially a master stroke. If numbers at SNE are anything like what is now being suggested it places increased value in these other close by blocks (assuming good 3D seismic). It should I hope become a bargaining chip when FAR talks to its JV partners.

Returning to the potential immediate production of SNE. CN has mentioned she is concerned about the JV losing momentum after this round of drilling...announcing immediate development would produce a real excitement - it would come with DOC, formal and firm numbers and the ability for FAR to make $$'s in the shorter term. Committed development certainly would not see momentum loss!

I know most FAR people don't want to go to production (and having been in this since 2003 I want best value in shortest period as well) but as this area is playing out I do wonder whether we should aim for a couple extra years in order to maximise our situation?

dodds