Ann: Annual General Meeting Presentation, page-158

Dead right Szaba.

Ok for anyone that's interested. I finally got feed back from peers of mine with regards to the predicament I'm in with regards my paralysis over my holdings in FAR.

These investors have a better understanding of the larger oil patch than I currently do. The consensus was to consider letting it go. They have a more macro view and a very good understanding of what is developing in the industry with regards shale and Middle East. They felt that the opportunities in the near to medium term for investors/financiers will be plentiful as the current market disruptions play out. Long term they are extremely bullish oil due to the current crimps and neglect of replacement supply. Add to that the ongoing dilution of the USD as the FED props up anything and everything which will see oil be revalued up in USD terms.

So eyes are back to Senegal deepwater and FAR with its cash about to run out come September. The feeling is that the players that are dealing with us now may not be up for too much stiff competition. Both in the sense of finance and takeovers. In other words maybe WPL, Meridian and AG along with whomever else is behind JPMORGAN'S etc. may not be too concerned about left field players coming into the sandpit.

After 6 years of highs and lows, good and bad information and then the last year of just plain lies I've decided to end the pain. All out today at .017c.

I can't offer any advice, but I can tell you all, that my last phone conversations to the office of FAR told me some things that were plain wrong. Right at a point where I would have appreciated directness....you know the time....around abouts the last CR. I like to believe that even the office was blindsided by events so I can't lay direct accusations. Like Mr. Hustler says....it comes down to the actions of management these days....the sheer fact that they are all remaining on full salaries tends to speak volumes. Make of that what you will, but for me and Mr. Hustler it gives off a bad feeling.

One would imagine that something has to give between now and when they run out of cash. One would also imagine that the key investors must have something over us to be so confident, that they have not sold a single share and are continuing to mop up. The question is....is that "something" beneficial to retail investors? All in all, too many questions and not enough information.


Best of luck to the remainers its been a hell of a journey.

CV