whisky .................. I disagree with the following...

whisky .................. I disagree with the following statement

Most of FAR's future moves will be unknown to them until the results of appraisal are in....in the meantime we are doing what they said they would and that is appraise this field...

That statement implies that they ie management are sitting on their hands doing nothing and this plainly is NOT happening!!! IMO management will be very aware of where the JV is headed, for gods sake CNE beginning of 2014 went out for expressions of interest for a FPSO and just recently advertised for a contract facility engineer who will obliviously be working on preliminary design of the production facilities so FAR management are VERY aware of where this is headed!!!! even if you want to deny where we are headed!!!!

FAR management will be working furiously behind the scenes for two likely scenarios:

1. A T/O .................. in preparation they will be laying plans to counter any offer refuting the T/O and laying out figures that they consider is genuine value for their SH's .............. that's US!!!!!

2. If 1. is not accepted then management must be prepared to move forward with the JV taking what they have found into production development which means finance MUST be found, they will be making quiet inquiries to ascertain how this can be done and considering the ramifications of what they find.

To suggest that they are doing nothing until results are known is plainly ridiculous.

I do agree however that management would not be giving meaningful updates (ie upgrading SNE figures) until the facts and figures of the appraisals are confirmed, I have said repeatedly that IMO nothing of substance will be released until at least the 19th Jan but must admit that I wouldn't be surprised if we don't hear anything until after the figures from both SNE2 & 3 are confirmed by an independent lab

HKP