Contingent wells...., page-15

HKP

Good question about why they are still holding to a tight hole policy. Looking back over what was said about information flow during last year's drilling and what was announced could be instructive. In April ahead pof FAN-1 they said that because FAR was not the operator inforamtion flow was dependent on what they received from the operator and that they would release information "in collaboration" with their JV partners.

In August ahead of SNE-1 they said:

"As previously announced, the drilling program has been designated as “tight” by the Operator and hence no information related to depth or formation will be provided during the drilling beyond what is required to meet ASX continuous disclosure obligations."

So they didn't release geological data that may help competitors but they did release what is required by the ASX. Several months passed from when they returned to drill FAN-1 and when we heard of the discovery. We then got details of net and gross oil columns and oil type.

I expect the same again with SNE-2 ... no news during drilling, then news of oil column and quality once they have reached TD and have logged and cored. If FAR's 5 week estiamte holds up that should be later this week ... they started on 4 November (announced to ASX on 5 November).

H