CNE Preliminary Results Announcement, page-7

Rolla,

You may be right and that FAR will roll the dice - ie wait for Gambia result.

But I would disagree for the following reasons:

1. Petronas has set a cap of USD $45M,

2. FAR has never been an Operator before, so they need to budget for possible cost blowout,

3. FAR has to carry Erin's portion of $8M,

4. Gambia is an Exploration well - despite the COS, there are a lot of risks,

5. Cath's action in relation to the in-the-money options would suggest she is going to play is safe - that's her MO, and

6. CNE (in addition to WPL) has also suggested further drilling in the 2H of 2018.

I don't think they have come this FAR, to risk running out of cash and then to be taken over on the cheap.

AIMHO.