Oil up over $50, page-47

The drop in their SP back in Nov was related to the Aptian being water wet at SNE-1. After that there was lack of newsflow, till the qtrly came out from Cairn first & then the others.

The relief rally in oil price is a sort of 'pseudo-rally' based on the back of the Majors promising to cut down on drilling activity to save on Capex (Exxon, BP, COP & those in our own backyard).

Here is FAR's Senegal timeline vs POO (u can track their SP, from 14c to 6.2c in Dec'14 & back to 8.9c). Hope this helps.

- 7Oct'14: Fan-1 discovery. POO @ US$89.37/bbl
- 10Nov'14: SNE-1 Albain discovery news. POO @ US78.98/bbl
- 21Nov'14: Drilling complete in Senegal news. POO @ 75.42/bbl
- No major activity updates on Senegal, oil continues to slide into the forties/bbls
- 13 Jan'15: Cairn releases its Dec qtrly. POO @ $41.50/bbl
- 29Jan'15: Conoco's qtlry, followed by FAR. POO @ $44.83/bbl
- 3Feb'15: Senegal Resource estimates timeframe by Q1 end, POO @ US51.77/bbl