Ann: Equity raising to finance Sangomar Phase 1 Presentation, page-72

the fate of PE will be known within a few weeks. its a little too late for a +ve announcement here. A lot too late....next catalyst will be Cairn sale price. They are in corner and need to sell. whatever the price is they are selling unfunded, so its not apples and apples now. Although i suspect Mr Market will use this price as the updated look thru valuation. A PE win can reduce debt exposure if they want to compromise. PE loss will be horrible management judgement, an understatement. the damage is done. too many shares on issue, need to buy now to bring the average down & hopefully trade higher out to make some dollars. I am hopeful the Cairn buyer will want more & appreciates the Gambia potential. Barrels in the ground is worth more when funded. Lets see how this unfolds as FAR's SNE stake gives the Cairn buyer dominant ownership. Coleman should attack us now and make sure he owns SNE, before the mid January vote on new shares. He probably wont but would make sense getting us bloody cheap.