Ann: FAR Update, page-65

I think they said in the update that in light of the Sr./Jr. Finance facilities not finalised, they had commenced a process to review strategic alternatives available to the company. 21 days ago no Analyst had their Crystal Ball suggesting a sharp drop in Brent at USD 33.7/bbl (9th March). Now at USD 22.7/bbl. Such drops affect junior Oilers as well cashflow for producers.

'Alternate strategies' or 'Strategic alternatives' would mean for example,
a) sell some-keep some Equity,
b) sell the lot-take the cash & walk,
c) raise more capital & sell down some equity,
d) borrow from WPL if things get pushed back a bit

In short they would b looking at Plan B, C, D etc etc.

Not sure if the VLCC's Tank cleanup in Indonesia during summer will be happening now or is that on Hold & does the conversion to an FPSO start in Q4 ?

Note that None of the luminaries bothered to ask PC that question in the Teleconference, mayb someone could email FAR (refer page 7 from CNE's transcript 10th March).