AGM questions, page-78

"I dearly hope FAR have not wasted a million on DJ because of Trace and Caps obvious ineptness. DB"

That 3D would be purchased by whoever ends up with the lease IMO. The Govt has been keen to weed out those who they don't believe have the financial strength to continue their obligations and Trace has been struggling, that is indicated by the terms FAR got the Option on.

One thing is obvious and that is FAR has had time to look at the 3D and hasn't dropped the option so are still interested, regardless DJ is pure exploration and as such has a low chance of finding commercial oil, would be nice to have someone check it out for us and that is still quite likely but far from certain now. Petrosen will own 10% of the lease and be keen to have it checked out as well, so a good test of our relationship with them..

Be interesting to see how it pans out but with SNE ,including the possibility of the FAN being added to it plus A2 they have their hands full anyway.
Great to hear the data room is already open for A2, I doubt they will have much trouble finding a partner their and FAR are cashed up well enough to maintain a reasonable WI...nothing better than looking for oil in sands you know contain a lot of it and in a place where those sands are much thicker...


Cheers Whisky