meeting tomorrow, page-31

Good meeting,got good info regarding most projects,tried to remember all you guys questions.Firstly,Senegal.The cost of drilling one deep water well here is about 60 MILLION!.FAR will farm down %50 to be free carried through first drill,plus siesmic recovery.This will most likely not be an ASX listed company,as the cost is too big(another indicator of what a coup FAR got by getting in early).Could most likely be Chinese,as the first prospect is a buried hill type,which the Chinese favour as their largest producing fields are this type.FARs estimation for success with this well is high, as the rock kitchen,test drilled nearby by the USGS in the seventies,proved that it has been producing hydrocarbons for about 70,000,000 yrs.The time line graphic shown in the presention is an outline only,as it is based on the partners commitment to the Senegal government.If a farminee was signed in the next month or two,feasibly a well could be sunk by the end of this year,subject to availability. probably wont happen that soon though.FARS estimation for this prospect is between 1 and 3 billion barrels.It is also a four way closure so they are able to test two different zones with one hole. The Santonian Fans contain three different depositional zones each and are also estimated in the billions of barrels, with stacked prospects.Obviously there will be further prospects generated as more data is analysed. Must rest weary fingers now.Will post more directly