Timing

I have finally gotten around to reading the quarterly report, the below stood out to me as important, I suspect Cath, and management were trying to say something with the below, without actually saying it per say.


''FAR has been planning a revised update of the contingent resources for the SNE field and the neighbouring discoveries for release. The process is intimately related to the understanding of the commercialisation of the SNE field and is drawing to a close as the joint venture also concludes its position. FAR will release this data, after review by RISC, when this process is completed. The focus has of course been on ensuring that the SNE development planning is progressing as per the tight schedule proposed by the joint venture to enable government approval of the development plan by November this year and achieve the milestone of Final Investment Decision (FID) in early 2019.''

Personally I feel what the above also says is that the RISC report will not be released until such time as the JV has finalized there numbers over the SNE field. Given that The JV need to stand tall together and be on the same page when it comes to there Field development proposal to the government of Senegal, it would be prudent on behalf of FAR and RISC to ensure that there numbers match up. Its getting late in the day and this little minnow has played a great game of chess to date, I don't think there about to tip there king or queen over just to appease a few impatient shareholders.

''The focus has of course been on ensuring that the SNE development planning is progressing as per the tight schedule proposed by the joint venture to enable government approval of the development plan by November this year and achieve the milestone of Final Investment Decision (FID) in early 2019.''​

Suffice to say, it would appear no one behind closed doors is rushing the unimportant stuff.

Just my thoughts.

Chandler.

P.s Don't bemoan a declining SP take advantage of the Value.