Ann: Farm in agreement for seismic and well in Ke, page-6

re: Ann: Farm in agreement for seismic and we... This is a brilliant deal and one that I didn’t see coming.
If I am reading it right FAR have only relinquished a proportion of their onshore L6 holding and retain their 60% of the highly prized off shore position in full.
This looks like some nifty work from the management team and they get a big thumbs up from me.
The reason why this is such a good deal for FAR is twofold.
1) Onshore exploration is so much quicker and cheaper than off shore, however they will also be testing the same basin (Lamu) as their off shore prospect. Whatever happens onshore will strengthen their knowledge of what’s off shore and how to approach it. This in turn will be regarded favourably by any potential farm in partner for the offshore portion of L6. Brilliant!!! and
2) This is just plain good business, if successful, and they find gas (let alone oil)they have a readymade market right on their door step, essential an easier one to reach than the one Tallow needs to reach in central Kenya.
The plot thickens. I love this latest move because it further complicates any potential take over and will give FAR the scope to run for the midterm if successful.
Happy days –