Aqua .............. I agree that Senegal would struggle to find...

Aqua .............. I agree that Senegal would struggle to find the finance for Petrosen's 10% share let alone the higher figure if they took up their option to increase, at round $10b development cost (note am not saying this is the cost just using $10b for ease of calc's ) they will need to find ~$1 to $1.5B, a large amount for a small third world country IMO but this poises the obvious question, sell to whom, and guess the obvious answer may be to COP, this would take COP nicely to a majority SH of the JV which am sure they will want.

As for FAR financing into the development haven't really considered it of late other some musings way back early 2015 where I prophesied that FAR could possibly pre-sell sales as mentioned in Tim's emails though am unsure how this would legally work (being a QC specializing in international affairs Tim could prove to be a very valuable asset to management) although am guessing it could be linked the the monthly Brent spot market pricing, however this would be a great way to keep share dilution down to a minimum while FAR proceeds into development.

Then of course we have to consider FAR's intentions for the GB and DFF block's as these, IMO, could be the 'jewel in the crown' for management. I will be very interested to read what their revised contingent estimates will be for both blocks once they have analysed the latest 3D seismic. After what they have learnt from the Senegal discovery I am sure we will get some surprises. Also as what their plans are for future exploration of these blocks and of course financing the exploration, no doubt there will be farmin's somewhere in the mix!!!

When you look at all the prospects FAR has its difficult to imagine that only 18months ago we were crossing our fingers waiting for the drill bit to produce results at SNE-1 and FAN-1 and now we are sitting on so many possible prospects its difficult to work out which way management will develop what they possibly have.

HKP