FAR 1.23% 40.0¢ far limited

"if you remember CN stated that the farmin was contingent on the...

  1. 13,172 Posts.
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    "if you remember CN stated that the farmin was contingent on the results of Senegal and that was before spud of SNE ............... now we have resounding success in not one but two exploration wells and the ann re the kenya farmin has been continuously delayed so makes one wonder just what is being planned"

    Yes HKP I think that is the key to it and I read that as if we have success in Senegal then we sell out of Kenya and possibly GB and use any proceeds in Senegal ( they may be able to retain a small ORRI in Kenya) and that is backed up by her recent comments that appraisal will be funded by a combination equity, asset sales and other finance options.

    If COP was a buyer of Kenya / GB then the proceeds may come as a trade off for some appraisal drilling in Senegal.

    FAR will have its hands full in Senegal holding on to as much WI as possible with just SNE not to mention FAN and any other stand a lone projects that may lurk on our current leases. The plan as stated by CN will be to enter the appraisal process (IMO to a stage they be declared commercial or not ) and that statement alone tells you we won't have cash to persue anything else.

    Finance to help with the appraisal may in part at least come from the IMF.

    The next thing of interest for me beyond the 2c results is how they will approach appraisal , concentrate on SNE or do both at the same time, the cheapest way would be to book a rig and do all the initial appraisal work back to back and throw an exploration well in for good measure probably, perhaps the Cajun express will make a return visit after it's current mission.

    Plenty to think about even if thinking is a wasted effort, afterall they are the only ones who know what is going on and will do what they are going to do when they are ready to do it without my input I'm just along for the ride ...

    Cheers Whisky


    Cheers Whisky
    Last edited by Whisky49: 20/12/14
 
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