Capital Raising Overview 40 million equity raising, comprising: 25 million institutional placement (Placement) Offer Size 15 million 1 for 17 pro-rata non-renounceable entitlement offer (Entitlement Offer) Approximately 500 million…
Indicative Timetable Key Dates Trading halt After Market, Wednesday, 21 October 2015 Institutional Placement opens After Market, Wednesday, 21 October 2015 Institutional Placement closes Thursday, 22 October 2015 Trading halt…
Sources and Uses Sources and Uses of Funds FAR Sources and Uses of Funds 30 June 2015 to 30 June 2016 Sources Am Uses Am Cash (30 June 2015) 44 Senegal 69 Fx gain on cash holdings to Aug 15 2 Other Africa 2 Capital raising 40…
FAR snapshot Africa Focused: Senegal, Guinea Bissau, Kenya and Australia 8th Largest Pure E&P on ASX: FAR entered ASX 300 in March 2015 FAN-1 and SNE-1: Major basin opening oil discoveries in Senegal SNE Field Largest Oil Discovery:…
FAR market summary Growing company Institutional Investors FAR is now the 8th largest pure E&P 3% 2% 17% 78% company listed in Australia FAR trades on the Australian stock exchange (FAR.ASX) and is included in the S&P / ASX 300 index…
Senegal Strong in-country relationships: FAR has been in Senegal since 2006 OFFSHORE SENEGAL PSC 16.7% paying interest, 15% beneficial interest Peaceful democracy: Senegal has been Operator: Cairn Energy PLC a democracy for 200…
Senegal prospects and leads PSC area 7,490 km2 3D seismic coverage 2500km2 10
FAN-1 and SNE-1 seismic section/schematic FAN-1 SNE-1 1430m WD 1150m WD W E Buried Hill Shelf Edge Fan Source Kitchen Oil Migration Oil Traps 11
FAN-1 oil discovery Proved prolific source: High quality light oil in a stratigraphic stacked Cretaceous sand sequence Oil gravity 28-41 degrees API Gross oil bearing interval 500m containing discrete oil columns with no oil-water…
SNE-1 oil discovery Excellent reservoir average 25% porosity in a well defined Cretaceous structural trap Oil gravity 32 degrees API Gross oil column of 96m (36m net) well defined gas-oil-water contacts with a text book pressure…
SNE appraisal well locations Drilling program objectives: Prove minimum economic field size (MEFS: 200mmbbls) Test upside potential in SNE (3C BEL-1 Bellatrix resource 670mmbbls*) Test overlying Bellatrix exploration prospect…
SNE appraisal well locations N BEL-1 SNE-2 SNE-1 SNE-3 S Bellatrix SNE-2, SNE-3 and BEL-1 to be logged, cored and flow tested 15
Development and tie back concept 77mmbbl* 74mmbbl* 204mmbbl* 141mmbbl* 168mmbbl Tie * back radius 101mmbbl * *Reference FAR ASX releases dated 13 Apr 2015 best estimate, gross, unrisked prospective resources, 100%…
Senegal economic models 18 Very good PSC terms 16 NPV/bbl (US) 14 Base planning case: 12 NPV/bbl at FID 2C resource 330mmbbls 10 8 (50mmbbls net to FAR) 6 4 CAPEX 17-26/bbl 2 OPEX 5-15/bbl 0 US90/bbl 2014 costs US70/bbl…
Activity schedule to mid 2016 2015 2016 October November December January February March April May DRILLING 3D SEISMIC acquisition processing and preliminary interpretation Ocean Rig Athena drill ship Commencing drill…
Why FAR Committed three well Senegal drilling program with strong potential to add material value by confirming significant resources Extensive evaluation at the SNE-2 and SNE-3 appraisal wells consisting of reservoir coring and oil…
Board and management
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…
Senior management Catherine Norman Over 20 years experience in the mineral and oil & gas exploration industry, having held executive positions both in Australia and Managing Director in the UK. Cath has carried out operating…
Contact us Level 17, 530 Collins Street Melbourne VIC 3000 Australia T: +61 3 9618 2550 www.far.com.au
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