The Gambia
FAR's next frontier
November 2017
Our Company
ASX:FAR Market cap A$410M1
Strategic focus Mauritania-Senegal-Guinea-Bissau (MSGB)
Basin, NW Africa
8 exploration permits in MSGB Basin
Basin opening discoveries in Senegal in 2014
Funded to SNE field development FID
Strong balance sheet: cash Q3 A$63M, no debt
Strong commitment to supporting social and educational
programs
Strategic partnership with CNOOC UK
Awarded African "Breakthrough Company of the Year 2016"
and "African Explorer of the Year 2017"
Operator and 80% partner in the highly prospective A2/A5 blocks offshore The Gambia
Drilling A2/A5 2018
1: Market capitalization at 17 November 2017
FAR in the MSGB Basin
FAR is one of the largest acreage holders in the MSGB Basin
FAR in Senegal since 2006, Guinea Bissau since 2008 and The Gambia since March 2017
Basin opening FAN-1 and SNE-1 oil discoveries,
2014
SNE ranked as worlds largest oil discovery in 2014
11 deep water wells with a 100% success rate
FAR 15% Senegal (Cairn Energy operator), 20%
Guinea Bissau (Svenska Operator)
- FAR Farmed into 80% of blocks A2/A5 The Gambia in March 2017
- FAR operates blocks A2/A5
-
First exploration well offshore The Gambia since 1979 to be drilled late 2018
FAR LICENCES OFFSHORE SENEGAL, THE GAMBIA & GUINEA-BISSAU
FAN-1 and SNE-1 opened up Senegal
Industry hotspot - increased investment and activity FAN and SNE discoveries 2014
FAN South and SNE North discoveries 2017
- 7 successful SNE appraisal wells drilled over 2015/16/17
- 100% drilling success (11 wells) to date
-
Major gas discoveries made in 2015, 2016,
2017 by Kosmos and partners
- BP farm-in to Kosmos acreage introduces a large IOC to the basin
- CNOOC farm-in to Impact acreage in AGC March 2017
- Total awarded ROP block May 2017
Stellar Energy Advisers stated "The SNE discovery saved African exploration"
FAR Limited published this content on 22 November 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 22 November 2017 02:19:05 UTC.
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