Unlocking offshore Senegal Africa Oil Week 26 October 2015
Who is FAR Australian listed oil company: 8th largest E&P on ASX Africa focused: Senegal, Guinea Bissau, Kenya and Australia Offshore Senegal: FARs core project FAN-1 and SNE-1 wells: Basin opening oil discoveries Worlds largest oil…
Senegal FAR has strong relationships : Been in Senegal since 2006 One of longest standing companies in country Senegal is peaceful : has been a democracy for 198 years Senegal achieved 4.7% GDP growth in 2014 Senegal S&P…
Senegal FAN-1 and SNE-1: First offshore oil OFFSHORE SENEGAL PSC exploration wells for 40 years, first FAR : 15% interest Operator: Cairn Energy PLC deepwater wells offshore US196M farmouts in 2013 Quality partners: FAR 15%,…
The road to discovery 2006: FAR farmed in 2008: Operator exits Senegal, leaving FAR with 90% and operatorship 2010: Shell option 2011: Kora well drilled in AGC Profond 2012: Drilling phase of PSC 2013: Cairn and ConocoPhillips…
Senegal prospects and leads PSC area 7,490 km2 3D seismic coverage 2500km2 6
FAN-1 and SNE-1 model seismic section FAN-1 SNE-1 1430m WD 1150m WD W E Buried Hills play Shelf Edge play Fan play Source Kitchen Oil Migration Oil Traps 7
SNE-1 oil discovery Excellent reservoir average 25% porosity in well defined Cretaceous structural trap Oil gravity 32 degrees API Gross oil column of 96m (36m net) Contingent resource* P90 (1C): 150 mmbbls P50 (2C): 330 mmbbls…
Upside potential FAR has mapped over 1.5 billion bbls of undrilled prospective resources* 77mmbbl* Most within tie back range to a potential future hub 74mmbbl* development at SNE 204mmbbl* Shelf edge prospects that are…
Next steps offshore Senegal Next steps are to appraise the SNE discovery build resource base through BEL-1 drilling Bellatrix 3 well program committed: 2 SNE appraisal wells SNE-2 Bellatrix exploration well Drilling…
Appraisal drilling program: BEL-1 N BEL-1 SNE-2 SNE-1 SNE-3 S Bellatrix 12
Bellatrix prospect Buried Hill play, yet undrilled Bellatrix unrisked prospective resources* Strong amplitude Low estimate 69 mmbbls response, conforms to Best estimate 168 mmbbls structure High estimate 356 mmbbls Prospect…
Adding to the portfolio Approx 2,400km2 new seismic FAR option for 75% Djiffere block and operatorship Completed 3D seismic survey in neighbouring Guinea Bissau acreage in early 2015 14
Unlocking the prize Evaluation drilling commencing Aim to reach minimum economic field size (200mmbbls) Undrilled exploration prospects offshore Senegal with 1.5bn bbls potential Seismic program to add prospects to the inventory…
Contact us Level 17, 530 Collins Street Melbourne VIC 3000 Australia T: +61 3 9618 2550 www.far.com.au
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