re: Ann: Minister Approves Renewal of FAR&#39... hiya guys...

re: Ann: Minister Approves Renewal of FAR'... hiya guys

Terrific start to the week

This announceent clarifies the thing that concerned e which was that we were eating into the 2 year extension period while we were waiting for the decree... No Worries all good

apologies for the spelling but one letter just died on the keyboard. Thankfully that key is not in trading password

MINISTER APPROVES RENEWAL OF FAR’S SENEGAL BLOCKS
Offshore Senegal, West Africa (FAR – 90%)
FAR is pleased to announce it has received formal advice from the Minister of Energy for the
Republic of Senegal confirming FAR’s entry into the next exploration phase (second renewal
period). The renewal, under the Contract for Exploration and Hydrocarbon Production
Sharing (PSC) covering the Rufisque and Sangomar and Sangomar Deep offshore blocks,
will run for a term of two years. The Minister has informed FAR that a Decree is now being
finalised for signing by the President.
The PSC terms specify the requirement to drill a well within two years of entering the renewal
period backed by a surety of US$5 million that is forfeitable in the event of non-performance.
The Ministerial approval and pending Decree places FAR in a strong position to secure a
farm-in partner.

cheers billdah