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March 2015 Investor Presentation – Far Limited

Far Limited · Mar 15, 2015 · 20 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. March 2015 Investor Presentation – Far Limited – slide 1
    The worlds largest oil discovery 2014 Melbourne Mining Club Cutting Edge Series 15 March 2016
  2. March 2015 Investor Presentation – Far Limited – slide 2
    FAR snapshot Two major basin opening oil discoveries in Senegal in 2014 SNE Field largest global oil find since discovery in 2014 SNE Appraisal drilling commenced 2015 Quality partners in Senegal discoveries: ConocoPhillips, Cairn…
  3. March 2015 Investor Presentation – Far Limited – slide 3
    FAR relative performance FAR: 0.13 12.0cps +40% 0.12 Ocean rig Athena 0.11 contracted for 3 firm SNE 0.10 wells appraisal drilling commences Share price (Ap.s.) 0.09 0.08 Brent oil: 0.07 US39.70 (31%) 0.06…
  4. March 2015 Investor Presentation – Far Limited – slide 4
    SNE Oil field footprint 300 km2 4
  5. March 2015 Investor Presentation – Far Limited – slide 5
    Senegal Strong in-country relationships OFFSHORE SENEGAL Production Sharing Contract (PSC) Peaceful democracy FAR: 15% working interest, 16.7% paying interest Solid growth: 4.7% GDP in 2014 S&P sovereign credit rating 'B+/B First…
  6. March 2015 Investor Presentation – Far Limited – slide 6
    Senegal prospects and leads Contract area 7,490 km2 Over 1 billion barrels of P50 prospective resources yet to be drilled* *Reference FAR ASX releases dated 13 Apr 2015 best estimate, gross, unrisked prospective resources, 100%…
  7. March 2015 Investor Presentation – Far Limited – slide 7
    Geological setting W SNE-2 SNE-1 SNE-3 BEL-1 E Buried Hills play Shelf Edge play Fan play 10km 7
  8. March 2015 Investor Presentation – Far Limited – slide 8
    FAN-1 Discovery W FAN-1 FAN-1 SNE-2 SNE-1SNE-3 well BEL-1 drilled first E Results announced Oct 2014 Oil gravity 28-41 degrees API Gross oil bearing interval 500m Operator gross oil (STOIIP) in place P90: 250 mmbbls P50: 950…
  9. March 2015 Investor Presentation – Far Limited – slide 9
    SNE-1 Discovery W FAN-1 SNE-1 E SNE Field Result announced Nov 2014 Largest oil discovery for 2014 Has not been surpassed to date 10km Over 300 km2 footprint 9
  10. March 2015 Investor Presentation – Far Limited – slide 10
    SNE-1 oil discovery Results announced Nov 2014 Excellent reservoir Oil gravity 32 degrees API Gross oil column of 96m (36m net) Contingent recoverable resource* P90 (1C): 150 mmbbls P50 (2C): 330 mmbbls P10 (3C): 670 mmbbls…
  11. March 2015 Investor Presentation – Far Limited – slide 11
    SNE Field: Contingent resources updated Nov 2014 Feb 2016 P90 (1C): 150 mmbbls P90 (1C): 240 mmbbls (+60%) P50 (2C): 330 mmbbls P50 (2C): 468 mmbbls (+40%) P10 (3C): 670 mmbbls P10 (3C): 940 mmbbls (+40%) *Reference FAR ASX…
  12. March 2015 Investor Presentation – Far Limited – slide 12
    SNE appraisal well locations Objective of wells: Size of oil pool Test reservoir properties and deliverability from logging, coring and testing Plan for measuring field connectivity N BEL-1 SNE-2 SNE-1 SNE-3 S…
  13. March 2015 Investor Presentation – Far Limited – slide 13
    SNE-2 Appraisal well Excellent flow from two independent drill stem tests (DST) Gross 12m zone: 8,000 bopd stabilised and constrained, interpreted flow 10,000 bopd Gross 15m zone: 1,000 bopd unstabilised Flow considerably greater…
  14. March 2015 Investor Presentation – Far Limited – slide 14
    SNE-3 Appraisal well Excellent flow from two drill stem tests (DST) 3 Gross 15m zone: 5,400 bopd max and 4,000 bopd stabilised Increased to gross 20.5m zone: 4,500 bopd stabilised Flow greater than prognosis Confirmed…
  15. March 2015 Investor Presentation – Far Limited – slide 15
    Bellatrix exploration prospect Strong seismic amplitude response Overlies SNE Field Chance of discovery 49% Follow up potential from several look-a-likes Prospective resource* Low estimate : 69 mmbbls Best estimate: 168 mmbbls…
  16. March 2015 Investor Presentation – Far Limited – slide 16
    Development and tie back concept 77mmbbl* 74mmbbl* 204mmbbl* 141mmbbl* Tie back 168mmbbl* radius 101mmbbl* *Reference FAR ASX releases dated 13 Apr 2015 best estimate, gross, unrisked prospective resources, 100%…
  17. March 2015 Investor Presentation – Far Limited – slide 17
    Senegal economics Excellent PSC terms Minimum Economic Field Size (MEFS) approx 200mmbbls CAPEX coming down NPV/bbl of US10 at US50/bbl oil price and reduced CAPEX* Estimated first oil 2021 *Reference Cairn Energy Capital…
  18. March 2015 Investor Presentation – Far Limited – slide 18
    Capturing more shelf edge exposure New 3D seismic acquired 2015 FAR bought option over neighbouring Djiffere permit 18
  19. March 2015 Investor Presentation – Far Limited – slide 19
    2016 revealing the prize 2013: Year of farmout 2014: Year of discovery 2015/2016: Evaluating the SNE Field 100% success rate offshore Senegal Undrilled exploration prospects with 1bn bbls potential Possible lookalikes of SNE in…
  20. March 2015 Investor Presentation – Far Limited – slide 20
    Contact us Level 17, 530 Collins Street Melbourne VIC 3000 Australia T: +61 3 9618 2550 www.far.com.au

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