Ann: FAN South-1 well and SNE-6 TD announcement, page-25

"Do not forget both CNE and WPL are backed by enormous income streams and are not dependent on dilution handouts from greedy institutions.
They could prolong the risk and bleed us dry this is may only concern at this point in time."

WPL or whoever and CNE won't be spending a cent more than they have to on SNE or Senegal in general they have their own shareholders to consider...the JV have a three year evaluation plan agreed to by the Govt for their leases and this round of drilling will likely finish the Sangomar and Sangomar deep lease evaluations, if they continue on and evaluate Rufisque it will later and with a different and cheaper rig...we are funded to cover whatever they throw at us with this round of drilling and Rufisque IMO so there is no chance of bleeding us dry between now and FID, the size of the CR ensured that...

In the meantime we have whatever turns up in the FAN or any other exploration well in this round of drilling plus whatever may turn up with DJ, A1 and PE , that will happen before FID which is when any decisions which need to be made regarding taking our WI through to production or selling out can be made with all the facts on the table, mainly what have we got that we can sell if needed or how much cash we might have if PE was successfully etc.

I wouldn't rule out the possibility of an appraisal well if they discover commercial oil in South FAN 1 but beyond that and possibly another exploration well on the shelf it wouldn't surprise me if that finished this round of drilling making 5 wells in total perhaps a sixth..we will have to wait and see on that one...

Cheers Whisky