Hi Busy buoyAccording to this extract (item 14) from a...

Hi Busy buoy

According to this extract (item 14) from a presentation FAR made in October 2010, Petrosen has supported the application to extend their license and the US$5 million becomes payable when the decree is issued.

Off‐Shore West Africa World Class Oil Potential - Presentation Transcript

FAR (90%) Senegal ‐ Large 3D defined Prospect Inventory FAR has acquired 2050 km2 3D seismic at a cost of US$14 million in 2007 3D interpretation and slope fan attribute work completed Q1 2008 FAR moved to 90% and became Operator in December 2008 Multiple Santonian age fan systems with stacked amplitude anomalies Large Albian shelf edge closure (up to 178 km2) > 1 billion barrels mean potential Adjacent Turonian source rock kitchen in oil window FAR has given notice under the terms of the PSC to the Senegalese Minister for Energy of its intention to enter the next exploration phase (second renewal period) which commences on 23 November 2010. The request has bee suppo ted been supported by Petrosen, the National Oil Company of Senegal. US$5m payable by FAR upon Decree et ose , t e at o a O Co pa y o Se ega . US$5 payab e upo ec ee

http://www.slideshare.net/plsderrick/off8208shore-west-africa-world-class-oil-potential

Had a another dip at open today and again this arvo

good luck Farites

cheers
billdah