Far Video, page-34

This just came through on my daily email from Energy News.

FAR Limited


Investors have questioned Africa-focused junior FAR on the delta between its most recent 2C gross resource from independent assessors RISC of 568 million barrels versus the operator's 370MMbbl figure.


Addressing investors at the RBC Global Energy and Power Conference in New York, FAR’s executive general manager, business development Gordon Ramsay said the company was comfortable with its higher figure, indicating that the appraisal well data supports the higher figure.


“Investors were well aware of 35% JV partner ConocoPhillips's stated intent to exit deep water exploration,” RBC analysts said about the interactions between FAR investors and the executive.


“FAR is somewhat ambivalent about the prospect. Notwithstanding, it values ConocoPhillips' input into the JV greatly, indicating that an experienced deep water operator would likely take ConocoPhillip’' place should it elect to sell out.”


FAR also reaffirmed the February 2019 ‘drop-dead date’ for entry into a commercial development. In practice, this means a development concept needs to be finalised a year prior to that.

Cheers and best of luck to the FAR longs
BF