Strengthening, page-6

discovery

Most recent presentations has a farmout concluded in Kenya by mid-November. Previously it was mid-October. Some have postulated that one reason for the ER was to help in negotiations around that farm out. So now that the money is in the bank FAR can hopefully move forward on this so mid-November is looking like a real possibility. Any early would be a bonus. We might have early resiults from SEN-1 around then too if they release news during the drill as they did with FAN-1.

Upside on a farmout is hard to say .. depends on whether FAN-1 and SEN-1 news is also out. A few cents at most i reckon as drilling is a year off. Best case scenario IMHO is if CEN or COP farmin and give FAR some more cash.

Still wondering if the 'new ventures"mentioned by FAR might not be related to the African Petroleum blocks offshore Gambia which are in dispute. The southern most fan structure in FAR's blocks in Senegal extends into those blocks and looks to be quite large (254mbbl in FARs block and a lot bigger in APO's). Just as likley it might be new blocks offshore Senegal though.

H