I am beginning to think now might be a good time to buy in. Even...

I am beginning to think now might be a good time to buy in.
Even though I doubt PE will amount to anything the downside from here will be very limited.

The most interesting thing here is FAR's 15%
Looking at the timelines to first production and the prohibitive costs involved I cant see FAR surviving another 12 months in Senegal.
The logical way to invest in the field is through WPL as they have the expertise and grunt.

With 4.6b SOI and possibly going to near 6b SOI after this next raise I honestly cannot see how FAR can last in the game.
I can see FAR being taken over within these next 12 months so I reckon from these lows there is a profit to be made.
Another major in the J/V joining WPL and Cairn is needed IMO as the figures of $US 7/8b to get to first oil was mentioned today.
So I am looking at a takeover price of say 15 cents.
That will give another major an entry point in the field with a possibility of picking some extra percentage from Cairn when they decide to lighten their load.