In my view you have hit the nail on the head. Why would a major...

In my view you have hit the nail on the head.
Why would a major explore and drill exploratory wells with the attached costs and uncertainties? (Except where potential size of field is world class)
Better to T/O known assets with proven fields at low current prices from cash strapped operators. Thus guaranteeing replacement production and reserves.
Farr and several others (AWE, HZN, and others) are right in that zone although HZN already has a major SH.
Good times to come once OPEC proves it's reductions and more certainty returns to the market.
Several posters have stated that 15% of Senegal assets is way better than nothing despite the PE. I agree, it's the bird in the hand principal. It might also be that Farr cannot afford to win the PE. issue.
Whatever the case, we have an attractive medium term play up our sleeves that promises solid if not spectacular returns.
I'm a LT holders and a big fan.
But DYOR.
AND stop going on about the PE., 30 days, CN, MGT, being crushed and all that sort of drivel.
We have a world class find. Celebrate it as 15% or 30% potentially and recognise the damage the world markets have done and how well Farr has coped.
Start saving for the CR. that may be required. This is a developing junior we own not a cash cow.
My rant for the day AIMHO.