chins up, page-27

Just read the ASX release on MMR and the article in the Australian which saw their shares skyrocket today from .0135 to a high of 0.36 and good luck to those that held them.

Interesting though that MMR took off today after the ASX/Media release based on a 2004 Seismic survey and an announcement of a fund raising venture to drill a wildcat well in an untested region (as I see it on the limited research I've done). This same licence area had been dropped in the early 1990s by Santos (STO), which, although it had found some gas, was too heavily focused on the Cooper Basin at that time. I don't want to be misunderstood here, I'm just outlining some similarities with FAR's venture in Senegal. Good luck to all MMR share holders in this venture.

In comparison Far currently has a 3D survey showing 1 bill + potential in Senegal and if the CSEM results comes in supporting the 3D survey results & Shell take up the option, then FAR already have a Major as a partner who will fund the first exploratory well in The Senegal Basin that has major discoveries in the regions to the north & south of FAR’s licences.

If Shell take up the option during the next week, IMO we should see a similar run for FAR as FAR will be 100% carried for the first well, supported by a $15 mill 3D survey, $5.5 mill CSEM survey (de-risking the drill) & a major as a partner. Surely this equates to less risk than the MMR venture. As I've previously posted IMO FAR has always run on ASX releases & at the moment we're way overdue for one.

Wonder how many MMR followers were watching it yesterday & missed the bus. Bet they’re kicking themselves now. IMO FAR offers a similar ride.

Please DYOR