Poly, the West African assets ar simply excellent.As Hartleys...

Poly, the West African assets ar simply excellent.

As Hartleys have pointed out (June 2007), "The north west African margin is relatively under-explored, but hosts numerous recent, sizeable discoveries including the Woodside operated Chinguetti and Tiof discoveries in adjacent Mauritania."

Chinguetti! WPL! Now whats Chinguetti worth - or rather, how many billions?

The more and more i look into FAR, the more and more astonished i am at its measly market cap.

They could be the next HDR or NXS - heaven forbid, they are billion dollar mkt cap companies.


From FAR's website:

""FAR’s holds a 30 percent participation in the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore blocks. These offshore concessions, located in the Mauritania-Senegal, Guinea Bissau Basin, offer potential for world class oil accumulations

The MV Symphony seismic vessel finished acquiring 2089 sq km 3D seismic Offshore Senegal in March 2007. Proceesing of seismic is now underway.

FAR’s survey was the largest 3D survey conducted to date Offshore Senegal as part of a world class exploration program being conducted by Hunt Oil and has the potential to place Senegal on the map as an investment destination.

Preceeding FAR's survey, the MV Symphony vessel first acquired Edison’s 1500 km2 3D in the Rufisque Deep Offshore block adjacent and to the north. The aggregate of this combined activity is likely to substantially upgrade activity in this relatively under-explored but highly prospective northwest African margin.

The acquisition of 2,089 square km. of 3D seismic data was conducted by the French seismic company CGG.

Senegal Exploration Opportunity

Deep water play with giant hydrocarbon potential in the Senegalese portion of the productive Mauritania-Senegal-Guinea Bissau Basin. Large closures identified at the Aptian carbonate and Cenomanian sandstone levels, along with numerous Senonian stratigraphic leads with significant upside potential exceeding 1 billion barrels recoverable within the licence

The Sangomar-Rufisque offshore licence covers an area of 14,981 sq km over the shelf, slope, and basin floor

Contract terms are among the best in the world, and were recently improved as a result of the government reducing the tax rate to 25%

FAR is partnering Senegal Hunt Oil Company (SHOC) in evaluating this opportunity, by contributing toward a 2050 sq km 3D seismic acquisition program (completed).

The 3D survey is designed to validate several potentially significant prospects and a number of leads identified by Hunt based on existing 2D seismic data in addition to identifying additional prospects.

The northwest African margin is relatively under-explored, but hosts numerous recent, sizeable, and intriguing discoveries including the Woodside operated Chinguetti and Tioff discoveries in adjacent Mauritania

With its capital city of Dakar located on the westernmost point of Africa, Senegal is a gateway to the continent. Senegal is considered one of Africa’s most politically and economically stable countries and hosts some of the best transportation, telecommunications and communication infrastructure in West Africa. It has been a functioning democracy since independence from France in 1960 and enjoys free and fair elections. Contract terms for oil and gas exploration and production are among the best in the world.""