Hi Hotazel I agree with you and as I posted yesterday AP have...

Hi Hotazel

I agree with you and as I posted yesterday AP have signed a LOI but still having discussion with other parties. FAR may have signed the LOI or could be one of those other parties AP referred to in their annual report. AP have been in trouble with their leases as they have not met their commitments. The concern is the comments made by the Senegalese government where they stated that some of the smaller companies were fighting hard to hang onto their leases, is AP one of those companies? who knows. I remember a few years ago I believe it was a lease off Guinea Bissau where the government relinquished a lease as the company had fail to meet their commitments, The government stated that they were not interested in speculator! The company then took the matter to international arbitration and won having the lease re-instated. So when Malcy made his statements regarding sweetheart deals from the Senegalese government I found that hard to believe as companies will fight to the bitter end to hang on to their leases.

My personal thoughts is that there has been discussions between FAR and AP but AP are holding on for a better deal, or asking too much for the interest in their lease.

If A2 is as I suspect we are better of with that rather than paying over the top for A1 and A4, but I do believe management are doing a good job so look forward to the next few months.

IMHO

Zip