HI DB I feel much the same but this extract from their Strategy...

HI DB I feel much the same but this extract from their Strategy statement covers the issue to a large degree..

"DON'T PAY FOR EXPLORATION DRILLING where possible"

This was their approach with the current JV leases, A2-5 and DJ, aquire the lease and let someone else pay for costs already incured and also drill to see what's down there, so there is no good reason not to continue that approach, after all it bought us SNE...

The issue with FAN and SNE is they only had free carry up to a certain amount, SNE was on budget but the cost blowouts on FAN were quite costly for FAR.
I would like to see a full free carry with any other leases to avoid that issue cropping up again. It's also why I look forward to them finishing the exploration we have with our current leases, where we do have to pay our share...

Exploration is fun if you don't have to pay for it...

Cheers Whisky