Just come back from holiday in KL, great place, very diverse, visted Petronas towers of course - very impressive piece of architecture.
Just catching up with news.
Far was 6c when I left and 5.5c now and inbetween we've acquired the long promised extra20%
10% of Gambia licence.
Doesn't look to have been received very well with SP decreasing??
My interpretation looks like Far has paid US2.25M (in typical example of Far communications clarity) but have also agreed (as part of this?) to backdate some new Gambian Petroleum conditions (would this have been exempt otherwise) thereby relinquishing 15%JV (or 7.5% to Far) to Govt should they eventually be successful. So in effect they have paid $3M AUD for an extra 2.5% assuming Govt will take up it's portion. Doesn't sound a very good deal to me considering the length of time it took to negotiate? - Or am I wrong here?
Just come back from holiday in KL, great place, very diverse,...
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