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Morning Rolling and others

Can't speak for CN but it is well known that FAR need to raise more money, that is one reason the market price is where it is. However it has been reported on HC that at the IPs CN indicated a good time for this would be on drilling success. Others have suggested that comments also made at the IPs that FAR "needed to be seen as financially strong" are indicative of the need for a major raise before the program starts so that we are not continually perceived as in need to go back to the market for more.

I have one further query in relation to this. It was also reported (by Mandurah I think) that the majority of our cash reserves are held in $US dollars because it was a JV requirement that committed moneys should be so held (or words to that effect).

The question then arises as to what constitutes "committed moneys" and what the JV rules are for committed moneys (if any) that we do not yet have?? ie will it be a requirement for FAR to set aside a certain amount by a certain time.

pj