Ann: FAR completes a $60 million capital raising-FAR.AX, page-65

Not sure why everyone thinks DOC will fix things.
Everyone says its already at that stage already so its factored in.
Its not the magic declaration everyone thinks it is as its already a given.
The thing is the partners are obliged to keep drilling to prove it.
The AU$60m is really only US45m and after 3 more wells with a hiatus to study the results that will be gone.
Maybe even after that they might need to drill more appraisals to get a 1P as I am not sure what financial institutions lend on.
There are pretty strict guidelines to be able to get to DOC.

Don't get me wrong though as this find is as good as it gets but many factors including the POO will come into effect.
No one will commit to development short term if the POO remains low.

That's why I think FAR will sell the asset as the costs to get to production are massive.
When they will sell is the question.
If they do sell then management can give some sort of capital return to shareholders.
With the money left over they can buy some distressed producing assets and still continue what they are good at, exploration.

There is no doubt Senegal have given FAR the opportunity to set themselves up as a stand alone entity.
The hints have been pushed out there that a good offer will be looked at.

I am sure FAR do not wish to get embroiled into the development phase in Senegal as timelines and budgets can be fatal if things go awry.

Management are smart enough especially if they play poker that going all in can be fatal.
Unless of course they are caught up in the hype like many on here are.....