Farjoy, page-11

I know you might get ostracised by me agreeing with you Spylord but it pretty well sums FAR up.
6 years away from production.
Yes 6 years.
Many more drills including exploration and appraisals according to Cairn.

When will Cairn declare DOC?
It might not be for another 12 months until testing and if more drills are warranted.
Don't forget when DOC is declared Petrosen could move to 19% then they will have to pay their way.
Does anyone think Petrosen are in a hurry for DOC to be declared?
I don't think so as they will have to fund nearly 20% of all costs.

Everyone is waiting for a higher oil price IMO and there is no guarantee that will happen.
Cairn say US$35 break even so what if POO stays around US50/55 per barrel.
Big difference from US$100.
That's why plenty are exiting deep water.

Notice also how big the field is.
That's why Cairn are doing connectivity testing initially in a relatively small area.
Doing connectivity testing in the whole area is not an option at this time.

Also everyone forgets how many production wells and water injection wells are needed.
80 from memory and they are expensive, not to mention the trees and connection lines plus the FPSO hire.

Do I think FAR will get to production....not a chance.
Regardless what management say I think they have done their job as an exploration company and are champing at the bit to offload the lot and keep doing what they do best and explore with plenty money in the bank but the going rate to sell is very low so they have to hang on till DOC.

OEL were producing 11k bpd from their field after spending plenty to get there but sold it for top dollar.
That field was nowhere near SNE.
Now they are at under 4 cents after giving some back after a capital return.
People don't realise how hard it is to stay in the game.