Drilling programme potential, page-87

Re: "FAR would have had to run this announcement past the JV... interesting that agreement was attained to release it. It suggests (to me) the JV just think the info is outdated now - and they probably simply don't care if it is released??"

Interesting point Dodds, and always appreciate your posts, but personally not so sure the RISC report would have been run past the JV, certainly not in the context of the current appraisal program "tight hole" policy. From what they have stated, the report appears independently commissioned by FAR and based on data provided by FAR (rather than the JV) before the current appraisal program began, quote:

"FAR Ltd (ASX:FAR) commissioned RISC Operations Pty Ltd (“RISC”) to prepare an Independent Resources Report for FAR’s SNE oil field offshore Senegal. The report was prepared as at December 2015 incorporating recent data available from wells SNE-1 and FAN-1 and reprocessed 3D seismic ....

RISC reviewed and modified a probabilistic resource evaluation carried out by FAR in accordance with industry standard SPE-PRMS definitions....

RISC’s Independent Resource Report notes that the SNE field contingent resource estimates presented in its report have not been updated to reflect the results of the SNE-2 appraisal well or any other changes since December 2015, and that new data may materially impact these contingent resource estimates.

The SNE discovery is at a very early stage of appraisal and will require significant further drilling, testing and studies before any commercial development scheme could be defined"

You may be correct, but the announcement is certainly not phrased in "Joint Venture authorised terms" - to me it sounds more like they are going out on a limb of their own here and unless Cairn announce otherwise tonight I don't think we should assume that the release has the JV's implicit approval?

pj