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the australian article 24 december 2009

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    Here's the section of the article relevant to FAR:
    Energy where it's needed

    Robin Bromby From: The Australian December 24, 2009 2:12PM

    Also on distant energy matters, Hartleys have put a "speculative buy" on First Australian Resources (FAR) which recently acquired 15 per cent stakes in three permits in water off Guinea-Bissau, the former Portuguese colony wedged between Guinea and Senegal. The blocks contain the Sinapa discovery which is in only 30m of water and contains an estimated 240 million barrels of oil. Analyst Dave Wall sees this acquisition complementing FAR's permits in Senegal where the company is negotiating a farm-out deal. The Guinea-Bissau deal, together with the prospective farm-out, has led Hartleys to lift the price target from 7c to 10c a share.

    But Wall does add a warning. The political risk in Guinea-Bissau is high; there has been frequent turmoil since independence in 1974 and it is one of the poorest countries in the world.
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