FAR have just announced a new position in Senegal and look set with West African assets. From memory the Kenya leases have been granted extension due to the security issues. However I have also read Kenya is having something of an exploration boom ATM.
It was only recently PCL holders were getting hopes up about Namibia but appears Tullow may not proceed there, they have announced budget cuts including Namibia. The PCL block is one of two they have an interest in at Namibia.
Onshore Kenya was set to be drilled but that has been postponed.
Still a few irons in the fire but the industry cut backs are crippling.
I think management are hamstrung, you would think in current situation they would be doing the rounds trying to get some deals. However they will need FAR on board in Kenya and they already have a deal with Tullow in Namibia.
My small orders is in at .001. Maybe the situation might improve next year.
DYOR IMO etc
FAR have just announced a new position in Senegal and look set...
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Mkt cap ! $178.8M | |||
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