Disco & B1212...good posts guys & agree patience is needed with...

Disco & B1212...good posts guys & agree patience is needed with good gains for the SP ahead as the year unfolds.

Worthwhile remembering that FAR's 3 licences have 1.5 bill+ boe targets, as identified on the 20 mill AUD (approx) 3D seismic survey, waiting to be drilled.

ME would have had to put a a very solid proposal for FAR in front of the Senegal Government after Shell's withdrawal, to gain the 12 months licence extension. This proposal was strong enough to not only retain the 90% operatorship, but also 100% of the acreage.

IMO part of the proposal would have been discussing future JV partner's who had shown interest after Shells withdrawal with Senegal Ministers. Again these candidates would have shown they had the experience and the capacity to drill in deep water plays to satisfy the Senegal Governments desire to become a West African oil producer, adding much needed wealth to this poor country. Something "substantial" lead to the Presidential Decree.

With recent discoveries up & down the West African Coast in similar geology & source rocks to Senegal, it would be difficult to imagine in a World with limited new unexplored regions capable of large discoveries (defined by some of the majors now as 100 mill boe being substantial), that FAR is the only company in the world that would like to drill in FAR's 3 Senegal blocks 1 bill+ boe targets.

ME still has 9 months to announce the JV partner and like everyone else I would have liked to have had the announcement yesterday - it can't come soon enough, but we still have plenty of time on our side for the best possible deal to be put together. Whether it's tomorrow, next week or in 6 months time IMO when it comes the SP will fly past the Shell highs if there is a firm commitment to drill.

PDYOR

PS: Throw in the Guinea Bissau potential & FAR now have over 2 bill boe potential targets in West Africa, near $20 mill AUD cash (including future receivables) & another possible $21 mill USD coming in if ME can negotiated the JV deal he's chasing. Can't see any downside here just huge upside.

Gotta ask how in the hell can the SP be sitting at 5.4 cents. This would have to be the cheapest stock pound for pound on the ASX. IMO you don't want to be sitting on the side line watching if a few of the dots start to line up & the FAR bus leave the depot & this ridiculously over sold SP behind.