Ann, page-46

G'day oli.....I think as the article attached to the link in my last post said shows AP have lost the Gambia blocks and they are still un-leased - maybe some can confirm this? The reason AP lost it was that the Gambia Gov thought they were sitting on it and not progressing. I'm with you  on the Conoco link - I suppose we hope that Cairn and Conoco reciprocate and take FAR along with them. The giant Alhamdulillah structure is only one of several large targets on these blocks.


I've said this many times the reason I like Senegal is the fact that it was once connected to the prolific GOM and the Casamance Delta offshore Senegal is one of the few remaining area's in the world which is still relatively untested. IMO if we were to get lucky with FAN-1, FAR's SP won't only be linked to any discovery there but will have a multiplier effect given the other huge targets in the leases. On the upside even though FAR have a lot of shares on issue it also has huge targets to compensate for this if we hit something big. I think a huge find will see the jump in share price surprise a few holders. Downsize is a miss and these shares will hurt and more bloody sausages until something good happens in Kenya.

Just on the Kenya farm out, while a farm out pre Senegal drill results would provide a soft landing if the results are negative, conversely a positive drill result in Senegal will place FAR in a much stronger position when negotiating a JV and retain a much larger slice of the pie. Play it safe or roll the dice?  

I also notice in FAR's last presentation the Albian Buried Hill play in relatively shallow water is back on display again. This was Hunt Oil's main target and the one I thought would have been drilled first. With a working petroleum system confirmed in FAN-1 has "Buried Hill" regain new interest. I'd love to see a third well drilled there.

Casamance Delta offshore Senegal link:

http://pgc.lyellcollection.org/content/7/823.full

AP looses Gambia leases link again:

http://africaoilgasreport.com/2014/...nt-attitude-terminates-licences-to-ap-oranto/

Cheers

Plugged

PDYOR