Ann: Tim Woodall to join FAR board, page-34

Evening All

I'm surprised no one has commented on Chairman Nic's comments, which I find bold and assertive:

"His commercial knowledge and experience will be highly valuable... as FAR moves into the exploitation phase ...

"FAR has big ambitions for growth and the creation of shareholder value ..."

Words, words, words, I know, but to my mind the bolded par is the strongest pointer yet that FAR is now planning to go all the way to production. These words are a long way removed from 2015's "we need to plan to go to production but not expect to get there". Since then:

> SNE has (likely) tripled in size.

> The field is likely to cost closer to three billion than five to reach first oil.

> CNOOC has cuddled up to us.

> We have secured A's 2 & 5 with their prospective billion barrels.

> PE might deliver a company making windfall.

Let's face it, if PE gets up FAR will have more options than an oil sheik in a Cairo brothel. If at that stage it really does want to become a producer it won't have a problem. I suspect the Board also has a plan to get there with just our 15 per cent; after all, it might cost just $400-odd million to do so.

Whisky, you must have salivated - or worse! - when you read Nic's comments. As you know, I'm underwater and therefore anxious to monetise our discoveries sooner rather than later, but I also have well over a million reasons to be patient enough to realise Farjoy's 'bigger than Santos' dream.

OOO