From The Australian today.

FAR
Melbourne’s FAR (FAR) is generating pretty much the only interest in the oil and gas space at present. It has just confirmed that the first appraisal well on its offshore Senegal discovery in West Africa has “confirmed all pre-drill expectations”.
The next big step is what comes back from a drill stem flow test on the well.
But there is already plenty of buzz that the SNE discovery, just one of two major discoveries made last year by FAR and its joint venture partners, could be substantially bigger than current estimates. The pre-drill estimates had a range from 150 million-330 million barrels.
Given the current thinking is that the economic threshold for a development in that part of the world is upwards of 200 million barrels, the potential for FAR and its joint venture partners, Conoco Phillips of the US and Britain’s Cairn Energy, to have a development candidate on their books is firming by the day.
FAR’s weaker share price of late (7.1c a share) has more to do with the currently oil price environment than any disappointment from the drilling program, remembering that current oil prices don’t matter much given first production would be at least three or four years away, hopefully with a higher oil price in place.
Expect interest to pick up when the partners get around to drilling Bellatrix 1, the third well in the current program. Bellatrix actually lies partially over the top of the SNE field, and if successful, could become part of a multi-field development in the future.