OFFSHORE WEST AFRICA: WORLD CLASS OIL POTENTIAL AFRICA DOWN UNDER CONFERENCE 2 SEPTEMBER 2011, PERTH
OVERVIEW OF FAR PORTFOLIO FAR presently has the largest acreage holding of any ASX listed entity in West Africa. Senegal: 3 Blocks; 7,490km2 total licence area; 2,086km2 3D seismic acquired; multiple prospects; 100% Working…
ASX Code: FAR FAR is an elastic stock with FAR ATTRACTS INSTITUTIONAL INVESTMENT high liquidity around events Share Price (Aug10-Aug11) High: 0.175 Low: 0.029 Current: 0.032 Ordinary Shares on Issue: 1,245,401,164 Convertible…
WHY WEST AFRICA From 1989 to 2009, Africas estimated oil reserves more than doubled to 127.7 billion barrels, equivalent to about 9.6% of the worlds total, according to BP. Explore with www.far.com.au 5
WHY WEST AFRICA According to U.S. Geological Survey** estimates, Mauritania to northern Namibia may hold 71.7 billion barrels of undiscovered oil. With 7 licences, covering 23,170 km2, FAR is well placed to explore this potential. **…
WHY WEST AFRICA Location of FARs licences. High potential basis mega projects likely (source: Anadarko) Explore with www.far.com.au 7
WEST AFRICAN PORTFOLIO: SENEGAL Senegal FAR 100% Working Interest.1 3 Blocks; 7,490km2 total licence area. 2,086km2 3D seismic has been acquired identifying several fans and a giant buried hills play. 1Subject to Ophir Energy…
WEST AFRICAN PORTFOLIO: SENEGAL Senegal Multiple prospects incl. carbonate platform (mean STOOIP 1 billion bbls) and Slope fans (mean STOOIP 600 million bbls). FAR has given notice under the terms of the PSC to enter the second…
WEST AFRICAN PORTFOLIO: GUINEA-BISSAU Guinea-Bissau FAR 21.43% Working Interest. 3 Blocks (5,832km2) with Svenska as Operator. Licences include the Sinapa oil discovery (30m of water, Mean STOOIP of 178 million bbls). Several…
WEST AFRICAN PORTFOLIO: AGC AGC Profond Block FAR 10% Working Interest. Multiple undrilled prospects incl. Xalam(Mean STOOIP 618 million bbls). Block covers 9,838km2 in water depths from 50m to 3,500m. PSC in first renewal period…
ADJACENT EXPLORATION: THE GAMBIA FAR Senegal Licence boundary Senergy indicates total unrisked mean recoverable potential for 2 Gambian licences (A1 & A4) at 4.6 billion barrels. African Petroleum Corp Ltds Gambian play…
RECENT & PROPOSED WEST AFRICAN EXPLORATION Senegal - FAR Gambia & Liberia One Well 2012 African Petroleum Application lodged to enter drilling phase Multiple well program 2011/12 following 3D acquisition in Liberia and AGC Gambia…
WEST AFRICAN DEAL VALUES 2010/11 In 2010/11: African Petroleum committed to spending +US60m for 60% of 2 Gambian PSCs and vendor shares of AU500m for 2 blocks in Liberia. Dana paid US19.6m for 23% offshore Guinea. COPL paid…
PEER COMPARISON Based on information concerning contracted blocks between Senegal and Liberia available in the public domain as at 28 August 2011. Explore with www.far.com.au 15
FAR HAS RE-RATING POTENTIAL Licences 7 5 1 Area (km2 gross) 23,160 13,663 24,993 3D Coverage 8,317 7,600 3,635 Market Valuation (31 Aug 2011) Total Shares 1,245m 1,600m 124.3m Market Price 0.032 0.65 USD4.47 Market Capitalisation…
CORPORATE SOCIAL RESPONSIBILITY As part of its role as a responsible corporation, FAR is dedicated to enacting policies and practices that are ethically, socially and environmentally sound. Alongside FARs commitment to…
AFRICAN PORTFOLIO GROWTH The current market necessitates a cautious approach to investment. However, FARs strong balance sheet puts the Company in an excellent position to capitalise on growth opportunities and build on its…
SUMMARY FAR has an early mover advantage in West Africa where exploration is set to intensify. With a market capitalisation of around 40m and 26m in cash, FAR is highly leveraged to: Senegal (FAR 100% WI) with multiple world class…
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