Ann: Financing update for the SNE field development, page-117

Its been reported previously that finance is all but done.
Its also been posted on here by Bullant that CNE, FAR and Petrosen have no finance in place.
Well IMO FAR have been in discussions with Macquarie it seems for awhile and are on the verge of getting a facility in place otherwise why announce it.
I also assume all parties have their financing in place also, otherwise why would every CEO be in Senegal.
How much of FAR's facility will be needed will depend on what the J/V facility amounts to.
The bigger the J/V facility the less each other partner needs to raise and I expect news of how much will come soon.
Probably FID and J/V finance will be announced at the same time and could happen very shortly.
FAR will need over US$600m for their share and it seems they have half of that, the other half will be through J/V financing.
As has been mentioned with FID and financing in place it will leave the door open for FAR and Cairn to jointly off load some equity which will enable them to pay down some funds drawn on their facilities, especially FAR as they have zero income till first oil.

This is only an opinion of course as I really have no idea and just using a bit of common sense.