Cos and Tony are absolutely right. Not saying that FAR as it is...

Cos and Tony are absolutely right.

Not saying that FAR as it is is not a good company. In that respect I am very comfortable with FAR.
As due to manipulation IMO (which should tell you something in itself) FAR is valued at the COP sale price at the time of a low oil price, needed sale by COP and many less barrels than would appear to be the case today.
So FAR is a good company without PE.

However PE is real. It is not some figment of somebodies imagination, some rumour. The fact that nine months has passed does not make it less valid. The dispute is as alive today as it was last year. Don't be fooled by the noise. There has been no authoritative announcements to say PE is not a live issue. Don't be fooled.
We have had high level Govt to Govt press releases involving Senegal the French and TOTAL.
Those releases have not been replaced by anything else. No headline saying "Big Oil Not Interested in Senegal". And again WPL is not big oil it is a sprat.
Just because it has gone quiet from FAR and the Govt, and there is lots of "noise" from WPL/CNE doesn't change a thing. Don't be fooled into thinking nothing is happening, quite the opposite in my opinion.
PE is a once in a lifetime opportunity. It is an arbitrage opportunity that is huge. And as SNE et al gets bigger so the arbitrage opportunity gets bigger. Hence all parties will want as much information as possible. Hence current drilling, no news.
PE is a once in a lifetime opportunity for Big Oil to take control of these blocks. We are mapping the future, the next 30 years, billions of dollars. Don't be fooled by the "noise".
And FAR/Petrosen and PE is central to all of this.
FAR is good without PE. That is why I'm comfortable with FAR.
But with PE it would be a huge game changer. Absolutely huge.
Make no mistake about it.
And it isn't just "pie in the sky". It is Real.
That is not to say that Big Oil, FAR, Petrosen, the Senegalese Govt, and the French Govt are going to pull this off.
But I will guarantee you one thing, the will have the best legal minds focused on the task. And they IMO are likely to be French.
And the more "noise" that keeps coming out from the WPL/CNE brigade, and the longer the silence, and the more time that goes by without the Senegalese Govt giving the COP/WPL deal it's "blessing", the more I think that PC will be sweating.
PE for FAR is not something that would be a "bonus", "quite nice".
It would be an absolute game changer.
It's not just a big deal Smugtown it is potentially huge. Do the numbers even roughly, conservatively, say billion barrels at $4 bbl.