Ann: CNOOC acquires 55.55% of Svenska's interest in Guinea Bissau, page-82

IMO …The bulk of the dilution got FAR to finding and proving the economical resource in Senegal. On that fortunate success the sole focus should have been capital conservation and getting to FID and financing asap ... maybe it was. But COP threw a spanner in the works. With no income, FAR should have taken it to arbitration very soon after the first sign of stone walling. Meantime the cash continued to burn. Although free-carried, SAMO1 was beat up, SP reacted accordingly and then sold off on the result accordingly (there’ll be overhead supply waiting on the SP’s way back up). The disastrous CR at multi year low SP as a result of the SAMO1 disappointment must be respected - any further missteps (free-carried or not) could prove to be fatal for holders. As I’ve said, I want no more drilling (free-carried or not) until FAR secures financing to bring to production the oil that they’ve already found at cost so far of 6B shares on issue. But if FAR win in Paris prior to Christmas everything will change for the better, but even that could be soured somewhat if they’ve already done a CR (or sold WI) for more drilling in 2020.