FAR - RBC Broker Report, page-29

I'm probably being a tad pedantic here but something doesn't quite add up in relation to FAN1, unless I'm
completely misreading the interpretation of various bits of "information" thus far released.

KKW ; "WE ARE at the pinchy end, only it's not BEER". Agree, the 29m net pay as far as I'm concerned relates
entirely to the stacked fans ABOVE the Beer structure.

CNE 10/3/15; "FAN-1 discovered high quality, light oil in multiple stacked deepwater fans "

FARJOY ; " Now the problem with the reported data is that it does not distinguish between the northern fan and Beer, which is an underlying delta sand formation (although Beer is not a stacked fan, which is the description of the net pay zone in Cairn's announcement."
CNE 10/3/15 ; "What you see is we’ve actually drilled on the edge of something here and it’s stratigraphic"

HARDMANO ; " If they really have only hit the edge of the Beer structure (in other words the location of FAN was optimal for the multiple stacked fans but not Beer)"

H, was it in fact, optimal for the stacked fans? The schematic by FAR has the drill bit intersecting said fans right through
the "guts" so to speak. Is this accurate? Perhaps it is the "edge" of the stacked fans that have been intersected and the
previous 3D seismics were not as accurate as first thought. Seismics, however thorough, are not foolproof. And what
of Beer then? I am sure that the last few weeks of "success testing" that went on were entirely related to the Beer structure.
It was these so called "additional oil bearing reservoirs" that WILL add to net pay that were imo, contained in the Beer
structure.

Obviously, it would be even better if they have only hit the "edge" of the stacked fans. 10-15m thick sands on the edge
augers well v the center, if the undulation of the Fans via the schematic is correct.

Really looking forward to a more detailed and official interpretation of the FAN1 results via the 2C release, if only
to clear things up a little as regards the stacked fans v Beer and where that 29m net pay is actually located.

GLTAH