Good Preso! Interesting to 'run the maths' as it pertains to...

Good Preso!
Interesting to 'run the maths' as it pertains to FAR...imo.
CNE have announced expected expenditure of USD145m from the beginning of this drill program, thru 2017. That equals roughly USD3.3m per percentage point.
FAR will need USD55m for their 16.7% paying interest over the same period. That is AUD75m approx
Add USD5.18m = AUD7m approx, for The Gambia Gamble
Add AUD8m overhead/legals/other permit costs
Total outgoings this year (minimum) therefore AUD90m
Cash at Jan 1 AUD40m + CR AUD80m = AUD120m
Year end 2017 cash (maximum) = circa $30m....imo
A couple of extra wells this year (remember the rig is options for 7 slots), and cash will be very low.
Cannot for the life of me see how FAR can claim 'cashed up til FID', when FID will not be until mid 2019 (earliest) according to the operator) .
2018 brings likely much greater cash commitments with drilling in The Gambia and GB along with 'last gasp' pokes in the RSSD permits pre PSC hard end Jan 2019. FID brings it's own cash challenges with performance bonds and development guarantees in the hundreds on millions (FAR Share)....imo.
Critique the numbers chaps!
DYOR