From google cache of upstream
http://webcache.googleusercontent.c...al-exploration-plan &cd=2&hl=en&ct=clnk&gl=au
QUOTE
According to a Trace executive, the Djiffere decree is expected by the end of next month because it does not have to involve Senegal’s new multi-ministerial super-committee, established by President Macky Sall to monitor and expedite upstream approvals,
Trace holds a 45.9% operating stake in Djiffere with 49% held by Sencap Energy, a 100% subsidiary of Cap Energy, and Petrosen on a 5.1% carry.
Australian junior Far Ltd has an option agreement with Trace to earn a 75% interest in Djiffere — subject to government approvals — and as part of this deal paid for Polarcus to shoot a 400 square-kilometre 3D seismic survey.
The original deadline for Far to deliver this seismic and exercise its farm-in expired on 31 October but Far claims it has upheld its part of the deal and should be granted an extension.
Upstream understands that miscommunication between Trace and Far has led to Cap Energy proclaiming it would seek alternative investors and that other farm-in suitors are welcome to discuss late entry.
However, Far managing director Cath Norman said earlier this month that final products from the 3D shoot are set to be available by the end of this year and her company expects to be ready to make a decision “to progress its Djiffere option in early 2017”.
ENDQUOTE
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