One-Page Deal Sheet
FAR Limited Announces Senegal Farm-In Agreement
Cairn Energy Plc Far Limited
Announced Date
May 30,2013
Transaction Type
Farm-In/Farm Out
Enterprise Value (EV)($MM)
10
Asset/Basin:
{"Mauritania Senegal Guinea Bissau Basin"}
TargetZones:
{Albian,Aptian}
Location
Region
Africa - North Africa
Country
Senegal
Transaction Details: Subscribe to see
FAR Limited has secured Ministerial approval for its farm in agreement of its 3 offshore Senegal
Blocks, to leading UK independent oil and gas company Cairn Energy PLC (Cairn). The terms of the farm-in deal
included:
• FAR being fully funded through a high impact exploration well ‐ expected early 2014
• FAR to be paid approximately US$10 million for back costs
• FAR and Cairn Energy PLC to enter into an alliance offshore Senegal
The farm in exploration well will intersect the Albian and Aptian shelf edge objectives and the “L” prospect has
been targeted for drilling. Cairn estimates that the dual…
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