gold coast resources showcase, page-8

Just got back from the Resources Conference.

ME talked about the work being done in promoting FAR world-wide.He used the term Mass Global Saturation.So the big boys know what Senegal is all about.

FAR continues to talk to multiple companies,who of course have signed confidentiality agreements.But he again emphasized we are Talking To Quite a Few People.At the recent Fremantle Conference another party has just signed up,so genuine interest continues to be found.

We just need to find a JV who is ready to part with 40-60 million dollars.And that should be easier now due to the BP fiasco in GOM.More rigs looking for work and the suggestion that day rates will come down.Where will these rigs go.You guessed it West Africa and Brazil.

As mentioned before Ophir will be drilling down in GB toward the end of the year,but heard that MAY not be until 2011.Success there would be a big positive for FAR for obvious reasons.

I talked to John Kopcheff from VPE who by the way is a FAR shareholder.I asked him Does he think FAR will get a partner for Senegal?He was quietly confident that they would.But he suggested it would be nearer the cut off time prior to november.

So in summary I get the feeling talks are still progressing but with a distinct confidence.

Cheers
Surat