Ann: Financing Update, page-196

Hi All,

I was also at the meeting today, I and a couple of other shareholders talked about the PE saga with Cath. In one of FAR's final submissions to the ICC, Cath was asked by the President of the tribunal about a compensation $ value figure which she provided and Woodside are well aware of this figure as they are in possession of this documentation. So if FAR is successful Woodside already have a starting $ value figure that FAR is chasing from them if they want to keep Senegal. The figure was calculated based on a number of factors that were not disclosed and nor should they be, and it will also obviously come down to final negotiations between FAR & Woodside in the end to agree to a compensation $ value. As Cath said the second round would not take as long (but who really knows) to determine compensation, if Woodside want to stay in Senegal.

Lets also say that Woodside's finance deal was done at the very last minute and it did not go down to well with the President of Senegal, he was "Not Impressed at All" and that is all I have to say on this matter, so much for Professionalism from Woodside.

Management were certainly calm and collected throughout the meeting and showed "No Signs" of any desperation that things were not lining up, IMHO things will only start improving for FAR going forward once the last final deal is completed and that is not far away.

GLTO
Regards Erinne