SavageGarden, ME is defiantly a deal maker and thats what counts, being a CEO of a minnow. He brought Shell to the table and has positioned FAR with favorable acreages in WA. Dr Igor represents FAR on the O&G seminars and he is their man on that subject. Bottom line its a good team IMO.
Speculation while we wait , ME would rather run with a JV thats not totally favorable, than test the grounds with another lease extension.
Semi relevant - Congo Government have revoked Tullow licenses in two key exploration blocks and awarded them to the son of the President South Africa Jacob Zuma, one character thats accumulating wealth though out Africa, the good old white man way.
Senegal rates low compared to other countries in Africa when corruption raises it ugly head. But, it brings to mind that securing leaseholds from governments would be complicated compared to dealing with FAR. It makes sense at such a low entry point to join FAR and secure the lease holds.
Below is a post by a chat room that discusses Tullow in the UK.
FAR, a small Australian Oil Exploration Company is also looking for a joint venture to drill their lease in Senegal.
TLW should also be looking at that as well, seeing they have got rigs in the area already. I think TLW also has some interest in Senegal already (I must check on that).
FAR will be a very cheap entry in the area. Shell originally was going to go into that but they pulled out saying that the reserve is not big enough. Well, Shell has done that before in other places and was turned out to be wrong.
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