FAR 1.02% 48.5¢ far limited

I just have a query, it may have been answered already, would...

  1. 739 Posts.
    I just have a query, it may have been answered already, would just like to clear up.

    In FAR??s release, it states the following:

    ??The planned minimum Total Depth for the Kora well is 4,251mSS (approx. 1,600m below the mudline) although consideration will be given to drilling deeper based on the geology encountered.??

    So should this be taken as the target is 1600m, but, it could go deeper??

    Because initially in the release it states this, ??The Kora prospect is located approximately 280km SSW of Dakar in 2,700m of water.??

    So If i read this correctly, there is 2.7km of water until we hit the mudline, in which there is 1600m of actual drilling to hit the target? Is that correct?

    So over 24 days, its about 67m per day of drilling.

    I??m not sure about those predicting sometime in August for an announcement, but as soon as the drill bit hits the target its material news regardless of the result, so an ann will be sent to the ASX immediately, which will occur within the next week or so. Alternatively, If the rig suffers any problems and it prevents the drill from going further, then this may cause a delay in our results and as they are not providing any updates, I would suggest this news would not be material, unless it was a major problem, thus resulting in drilling costs exploding and therefore this delay would need to be sent to the market.

    So providing no major delays(1 week +) then this week or next we will see an announcement informing whether hydrocarbons were or were not intersected.

    I??m excited ??
 
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