random thursday thoughts, page-5

My personal opinion is that we may have to wait until August or September for a JV.

At the moment I see two possible scenarios playing out.
First, the current negotiations with interested parties (perhaps Tullow or others) are going at a slow pace and each party has been unable to come up with agreeable terms (as each party will obviously place more weight on their own interests rather then that of the other). The recent AGM spoke of Envoi being introduced to market the deal to further parties. I personally interpret this as perhaps a warning to current parties negotiating with FAR that there may be other companies willing to come in at this late stage (a move to get them to reduce their demands). Alternatively along the lines of this scenario, perhaps the current party/parties negotiating would prefer for a 3rd party to come in so as to spread any potential risk...

Second, perhaps the current negotiations have fallen through and FAR is still in search for an interested party. Whilst this is the worse case scenario, there would still be hope until the 23rd of November. Realistically, if a new party came on board now, it would take them 2-3 months or so to undertake their due diligence and prepare themselves for a contractual commitment.

If FAR doesn't make it by November, they might try to extend the lease somehow (if at all possible).Complete failure would result in a loss of Senegal and a fall back on GB.

Im sure once we reach closer to September/ November if no announcement is released there will be many shareholders reassessing their exposure in this company.

This is all my speculation, but then again this is a speculative stock...

Good luck to all holders, patience is required.
JJM.
Do your own research.