Bell Potter coverage

In BP's Top 12 Picks: FAR

"FAR (FAR)
FAR currently has a 15% interest in several major oil discoveries it has made in offshore Senegal that are economically attractive and now about to enter the development phase. With 2C Resources of 641 million barrels (Mbbls) (recoverable), the SNE field is still one of the largest oil discoveries in the last four years and along with the nearby FAN discovery (with 2C Resources of 198Mbbls) is nearing a development decision in early 2019. FAR has also been very active in the adjoining areas, where it is Operator and is farming down to a 40% interest in Blocks A2 and A5 in The Gambia, close to and in the same geological play as the SNE field. FAR has identified the Samo Prospect in these blocks containing P50 Prospective Resources (best estimate) of 825Mbbls that will be drilled by a well in late 2018 under a favourable farm-out arrangement with global oil major, PETRONAS.
Speculative Buy, Valuation $0.26/sh."

Nice exposure but nothing we din't know. They have retained 26 cents per share which would be for SNE and prospects. I doubt there is anything in there for a Samo success case.

Funny that this came up as a news release on Commsec. Its not an ASX release of course.

H