decree needed

12/11/09.....yes 09.....part 1
Offshore Senegal, West Africa
FAR is pleased to announce that it has received advice from the Minister of Energy for the Republic of Senegal confirming a one year extension to the First Renewal Period under the Contract for Exploration and Hydrocarbon Production Sharing covering the Rufisque and Sangomar and Sangomar Deep offshore blocks.
According to the Ministerial advice the extension granted to FAR will be for a one year period commencing from the date of a formal Presidential Decree to follow (as distinct from the current licence expiry date of 22 November 2009).

4/12/09...part 2
OFFSHORE SENEGAL, WEST AFRICA
FAR is pleased to announce that it has today received notification of a Presidential Decree from the Republic of Senegal confirming a one year extension to the First Renewal Period under the Contract for Exploration and Hydrocarbon Production Sharing covering the Rufisque and Sangomar and Sangomar Deep offshore blocks.
Following an earlier Ministerial advice the extension granted to FAR will be for a one year period commencing from the date of the Presidential Decree. The Decree and its timely issue is important in providing certainty to FAR and potential farminees.

noteable points:
1. received advice from the Minister of Energy for the Republic of Senegal confirming a one year extension
2.The Decree and its timely issue is important in providing certainty to FAR and potential farminees.

latest extension
30/11/10
Second Renewal Period on Rufisque and Sangomar Offshore and Sangomar Deep Offshore Senegal Blocks
FAR advises that a delegation comprising two directors and FAR?s country manager have held meetings with Petrosen and the newly appointed Minister for Energy for the Republic of Senegal concerning the second renewal of the Production Sharing Contract (PSC) which commences on 23 November 2010.
FAR's renewal under the PSC is subject to Ministerial approval and requires a Presidential Decree. The request is supported by Petrosen, the National Oil Company of Senegal.
Recent changes within various Ministries, including that of Energy, have resulted in delays in the processing of Decrees concerning both offshore and onshore PSC?s within Senegal.
FAR?s delegation was warmly received by the new Minister and assurances were given that the issuance of a Decree concerning FAR?s PSC would be made in due course.
FAR will provide a further ASX release once formal documents have been conveyed.

noteable point
1.FAR?s delegation was warmly received by the new Minister and assurances were given that the issuance of a Decree concerning FAR?s PSC would be made in due course
end

power of words
1.confirming a one year extension.12/11/09

2.and assurances were given that the issuance of a Decree concerning FAR?s PSC would be made in due course

that's the written facts from announcements.

the decree is the key to the stability of FAR's future at the moment.

drilling of kora is still not even sure of being april/may.
maersk deliverer still at anchor.

holding tight.but i do try to be dealing with the positives and the negatives [remember shell.]

awaiting good news WG.