FAR delivers in Senegal Investor presentation April 2015
Investment highlights First mover advantage with quality committed partners Cairn Energy, ConocoPhillips and Petrosen in a new high potential emerging basin offshore Senegal FAN-1 and SNE-1 are new world class oil discoveries that…
Market summary ASX 300 Index. FAR trades on the Australian stock exchange (ASX) and is included in the S&P / ASX 300 index, with potential to enter the S&P / ASX 200 Energy Index Relatively high turnover. Average daily turnover is 19M…
FAR in Africa Africa focussed E&P company Senegal Kenya New FAN-1 and SNE-1 oil Frontier acreage with large with its key assets located in discoveries highlight multi equity positions in a fast billion barrel potential emerging oil…
Senegal Senegal is Africas western most country with RUFISQUE, SANGOMAR & SANGOMAR DEEP OFFSHORE 16.7% paying interest, 15% beneficial interest a population 14M (Capital Dakar) Operator: Cairn Energy PLC Large offshore PSC area of…
Senegal prospects and leads 6
FAN-1 and SNE-1 seismic section / schematic FAN-1 Well SNE-1 Well W E 1430m WD 1150m WD Buried Hills Play Shelf Edge Play Slope Fan Play Source Kitchen Oil Migration Oil Traps 7
FAN-1 oil discovery FAN-1 Located approximately 100km offshore in the Sangomar Deep block Drilled in 1,427m water depth to a TD of 4,927m Discovered high quality light oil in a stratigraphic trap containing a multiple stacked…
FAN seismic and in place resource FAN-1 West East Main objectives Operator STOIIP (in place) resource for FAN-1 P90 250 mmbbls P50 950 mmbbls P10 2,500 mmbbls FAN is a combined structural and stratigraphic trap in a…
FAN 3D amplitude section Thick, oil-bearing interval, interpreted to be a stacked series of oil columns Oil-water contact not encountered Possibly drilled on edge of reservoir section Reprocessed 3D seismic data completed late…
FAN analogy Jubilee was one of the largest worldwide finds of 2007, and the largest find of the entire decade offshore West Africa. The Jubilee discovery was significant, not only because of its size, but also because it opened a new…
SNE-1 oil discovery SNE-1 Located SE of FAN-1 approximately 100km offshore in the Sangomar Offshore block Drilled in 1,000m water depth to a TD of 3,107m Classified as one of the worlds largest oil discoveries in 2014 (IHS CERA)…
SNE seismic and schematic NW SE 13
SNE top reservoir Pre-drill estimate 154 mmbbls (gross, best estimate prospective resource)* Conformance of amplitude with structure Post drill 330 mmbbls (gross, best estimate contingent resource)* Audited by ERC-Equipoise…
SNE development concept As at 31 December 2014 The most likely SNE development concept is expected to be a floating, production, storage and offtake (FPSO ) vessel based on an integrated multi-field development with tie back of…
Senegal shelf prospects Extensive prospect inventory mapped on 3D seismic Two distinct play types on shelf The minimum economic field size for a 77mmbbl* standalone FPSO hub is 200 mmbbls (Operator estimate) 74mmbbl* Tie-back to…
Senegal shelf prospects N S Bellatrix SNE oil field Soleil Sirius 17
Senegal timetable 2014 2015 2016 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Drilling of FAN-1/SNE-1 FAN-1/SNE-1 data analysis Well planning Firm 3 wells Contingent wells 3D seismic acquisition/processing Declaration FAR AGM of…
Industry costs are coming down As at 31 December 2014 Offshore upstream capital costs are expected to decline 12% on average between 2014 and 2016 Offshore rig day rates dropped significantly Cairn stated well costs for appraisal…
Guinea-Bissau Three blocks, operator Svenska FAR 15% WI, 21.43% PI New 3D seismic evaluating SNE look-a-like prospect (Atum) Sinapa has a gross 2C contingent resource of 13.4 mmbbls (FAR net 2 mmbbls)* *Reference ASX releases…
Kenya The Lamu Basin has proven oil at both ends of BLOCK L6 BLOCK L9 Miocene reef play 60% interest offshore 30% interest 24% interest onshore Operator: Ophir Energy PLC Sunbird-1 well in Block 10A was an oil and gas Operator: FAR…
Australia WA-458-P exploration permit offshore WA-458-P OFFSHORE DAMPIER BASIN Western Australia is surrounded by discoveries 100% paying and beneficial interest Operator: FAR Ltd Structural and combined structural- stratigraphic…
Appendices
Performance relative to the oil price Strong performance in late 2014. The significant FAN-1 and SNE-1 oil discoveries re-rated FAR at the end of 2014, but their importance has been partly offset by a material oil price correction 500…
Liquidity relative to Australian industry peers Strong trading volumes. FARs liquidity has substantially improved from mid 2014, supported by the late 2014 oil discoveries, news flow and enhanced broker coverage 1.1% 1.0% 0.9%…
Board with significant experience Nicholas Limb Geophysicist and investment banker Non-Executive Chairman 15 years as MD/Chairman of an ASX listed, international mining company, Australia. Appointed 2012 10 years in Financial services…
Community projects Flood relief program in Senegal Mosquito nets in Senegal Donation of soccer balls in Guinea- Bissau Community consultation and education in all our areas of activity where appropriate
Contact us Level 17, 530 Collins Street Melbourne VIC 3000 Australia T: +61 3 9618 2550 www.far.com.au
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