Ann: Seychelles Approval Update , page-21

In terms of the Fortune 500 due diligence process; I wouldn't worry - these big companies have rheems of internal auditors, compliance, internal and external legal, risk committee, investment committee, operations heads and business head sign-offs required before it reaches the Board level. Invariably, a Board will endorse the recommendation of the people below them in these big companies so that if anything does go wrong then they can state they acted/relied on the advice of "internal stakeholders and subject matter experts" - usual corporate diatribe to justify a risk-free decision. I am of the view that internal stakeholder and subject matter sign-off is contingent upon the Seychelles Government approval and then it will go to a Board level - a formality. In terms of the spot price of FAR - the drilling results of other companies in neighbouring acreages where their tenements are situated aren't exactly positive for oil findings; so that would perhaps explain market sentiment. At least we're on virgin ground and in shallow water (oil) as opposed to deep water (gas). So keep calm and carry on ladies and gentlemen.