over concerned relax its not nov 2010 , page-10

Hi Plugged, always good to hear your thoughts and JT posting also.

If you glance over my last post , I was actually mentioning 30-100 million on FAR transferring their lease holds in Senegal. A TO bid would be considerably higher with FAR cash position , GB , N America. However, to spec on such prices is virtually impossible, unless your Leonardo DiCaprio character in Inception, and know what genuine offers ME has on his desk or even better what other companies are prepared to offer. Great flick checked it out last night.

IMO if FAR had received an offer of 30%, funded through the first deep well and reimbursement of
Data to 20 million, which what they re asking, it would be signed, sealed in an eye blink! Which tells us something, does it not? Therefore possible scenarios could be TO , transfer of leases in Senegal or mid caps joining forces , as JT pointed out IMOO.

Yes, ME has 6 million oppies and can exercise them at 7cps and he may want this to run to production, however FAR runs the possibility of CR to proceed with GB and Senegal , if the first deep well in Senegal was a duster and FAR didnt receive 20 million from reimbursements. The drilling program would defiantly be 3 or 4 drill programe if a JV went for the deep plays. The scenarios go on and on ..........! The up side is huge, dont get me wrong, very huge!

The conservative ME, whos no spring chicken, may look at selling Senegal to run with GB or working with his network to obtain other acreages in WA. RIA slipped into a part of WA thats possibly, more attractive than our acreages for very little outlay.

Plugged your calculations are spot on for a TO, if FAR obtained what they are currently asking. I wouldnt consider POO prices, until you hit paydirt and the same for 1 billion BOE unless you ve formed a JV, funded and drill dates are set. ATM calculations should be calculated with the risk involved. JMHO

Majors/Semi Majors are accumulating acreages for future predictions on shortages in energy resources, as many have posted. Ophir doing the hard yards and they may want to secure our leases and watch. Would SH settle for a TO of 15 -25cps ATM. Dont cut me down its a handy profit or 100 million for the sell of our Senegal acreages? My hand high in the air

Otherwise as mentioned in my previous post and JT also, international companies/mid caps are likely to be interested in FAR acreage and it becomes complicated and the shallow blocks would come into play, thus securing the lease extension, with out putting 5 million in the coffins of the Senegal Government , consequently using this money and a trade off on our Data for drilling and % ? The deep well may come into play down the track. IMOO

Lots of up side. Im not down ramping! Im a top 20 holder and believe what FAR have done to date for a minor has been amazing. They ve been in the right place at the right time , with Hunt walking and Delek deal in GB.

Unfortunately , FAR dont kiss and tell and were all only speculating while we wait!

No heavy selling, which is an indictor that insiders arent selling. DOW up 200 points last night , a deal will come , no problem just how good!

gottadosomeworknow

IMOO , DYOR