Uboy and AJ - To me a takeover of FAR seems less likely than...

Uboy and AJ - To me a takeover of FAR seems less likely than being taken out of the Senegal permits with a hopefully large wad of cash. It makes sense for Conoco to move earlier, before the appraisal drilling if they believe the prospects are likely to be as productive as FAN and SNE appear to be. This approach may well suit Cath N as it is worth remembering that Flow Energy farmed the Kenya interest into FAR and that Senegal was a long term dream for Michael Evans and the previous FAR team. The lure of cash to FAR and CN so that Kenya can proceed with a reduced farm out may be attractive to CN.
The IMO great news is having Farjoy at the table. You all recall that Farjoy quite quickly increased their percentage of FAR to greater than 10% to prevent a low ball takeover. It is also clear that Farjoy have very high expectations for the Senegal prospects, I don't recall Farjoy ever commenting on Kenya. This protects all holders from an opportunistic takeover or a cheap buy out of Senegal. I am happy to stay on the ride and believe patience will be rewarded.