Ann: Sangomar Field Development Exploitation Plan Approved, page-11

Oh my god, its like a funeral here.

Aren't you guys (Cheer Squad) happy with the Senegal Gov announcement that the JV partners can now commercially extract the oil?

Oh, that's right, you were expecting Peter Coleman to run out of his office in sweat, waving a white flag, and offering FAR $500M?

And you were so sure WPL didn't have "Title" over the Sangomar field?!? LOL

And you were so sure the Arbitration would allow FAR to PE WPL's 35% working interest?!?

And you were expecting to have so much money - either by flipping the 35% from WPL, or from WPL compensating FAR ($500M) that you wouldn't need to raise a dine in capital?!?

Now, how many did you get right?

ZERO!!!

Instead, FAR is under the pump: its got a week to go, to secure a Binding Term Sheet for USD $300M, to secure shareholders' votes plus AUD $30M, to secure AUD $146M from 708 investors and institutions and finally to secure USD $150M in junior debt.

6 working days to go.....but still very FAR away.

Well, FAR management will certainly be earning their salaries in the next week.

Good luck.