Discodaddy I am not sure I agree with your gut on Ophir."In...

Discodaddy I am not sure I agree with your gut on Ophir.

"In early April 2011, a further delegation comprising three representatives from FAR and Ophir?s Country Manager held meetings with Petrosen and obtained consents sought under the Agreement giving Ophir the ability to acquire a 25 percent interest in the Senegal blocks. The delegation was warmly received and assurances were again provided that the issuance of a Decree concerning FAR?s PSC would be made in due course."

"African Petroleum Ltd
(Code: AOQ) has indicated that it is likely to drill a well in its Gambian licence as
early as Q4 2011. The lead prospect in the inventory is estimated to contain 558
million barrels of recoverable oil, ~20% of which may spill over into one of FAR?s
Senegal licences."

For no outlay Ophir would also get in on AP's Gambian well.
Or if Ophir have to put in 25% of the 5 million for the Senegal surety, I would assume thats only a small fraction compared to 28 mob if the estimates are correct.

For the record, my gut says Ophir's on board, with or without a decree when the sixty days is up.