COP Not Selling Senegal

Hi Everyone,

I'd like to share with everyone an email from Cath where she has made clarification regarding the Article from Rigzone which she states as misleading:

Dear ######

Many thanks for your email. I am aware that Ian has sent you a response however, please allow me to add some commentary for you.

Beware the misleading media is all I can say about the link to the Reuters/Rigzone article that seems to have been proliferated. I urge you to listen to the recording of the COP presentation and the recording of the subsequent Q and A session which are both on the COP website. I think you will find it is consistent with the announcement made by COP in July which is that they are actively disposing of all deepwater exploration with the exception of the lower tertiary play in the Gulf of Mexico and offshore Senegal. COP remains committed to Senegal and even state in their presentation that they have funds committed to an expected 6 well program (of which 3 are firm and the other three are contingent on the results of this current program).

I hope this answers your questions, I was at the annual African Oil conference in Cape Town until yesterday and met with the COP senior management team. At this stage, I remain confident of their strong desire to stay in the Senegal project.

Kind regards

Cath


Cath Norman | Managing Director
FAR Limited
Level 17, 530 Collins Street, Melbourne VIC 3000
T: +61 3 9618 2551 | M: +61 407 087 176 | F: +61 3 9620 5200 | skype: cath_norman
e: [email protected] | www.FAR.com.au

If you're reading Cath,  Thanks again for your reply.  

Seems like it's business as usual for the 3 initial wells and assuming good results that will go to the 6 that are planned.