FAR snapshot Africa focused: Primarily Senegal and Guinea Bissau 6th Largest pure E&P on ASX: ASX 300 company FAN-1 and SNE-1: Major basin opening oil discoveries in Senegal SNE Field largest oil discovery for 2014: IHS CERA SNE…
FAR market summary Member of ASX 300 energy index Capital Structure since March 2015 ASX Ticker FAR Share price (29 Jan 2016) A0.074 FARJOY (Family Office) is the largest Market cap (29 Jan 2016) A273M single shareholder with 11% Cash…
Senegal Strong in-country relationships: FAR has been in Senegal since 2006 OFFSHORE SENEGAL PSC 16.7% paying interest, 15% beneficial interest Operator: Cairn Energy PLC Peaceful democracy: been a democracy for 200 years Solid…
FAN-1 and SNE-1 seismic section/schematic W E SNE-1 FAN-1 SNE-2 SNE-3 BEL-1 Buried Hill Shelf Edge Fan 5
FAN-1 oil discovery Proved prolific source Oil gravity 28-41 degrees API Gross oil bearing interval 500m containing discrete oil columns with no oil-water contact (29m net) Operator gross oil (STOIIP) in place* P90: 250 mmbbls…
SNE-1 oil discovery Excellent reservoir average 25% porosity Oil gravity 32 degrees API Gross oil column of 96m (36m net) Contingent recoverable resource* Low estimate (1C): 240 mmbbls Best estimate (2C): 468 mmbbls High estimate…
SNE Field appraisal program 3 well back to back drilling program Commenced Nov 2015 First well completed (SNE-2) Currently preparing for DST of SNE-3 Prove MEFS of 200mmbbls Test reservoir deliverability from logging, coring…
SNE Field appraisal well locations N BEL-1 SNE-2 SNE-1 SNE-3 S Bellatrix Thin sands Gas cap Oil column Blocky sands 9
SNE-2 result* Gross oil column 103m 216m core collected through reservoir SNE-2 has confirmed commercial flow rates from two drill stem tests 8,000 bopd from thick sands 1,000 bopd from thin sands Further resource revision…
Senegal prospects and leads Estimated 1.5 billion bbls undrilled prospective resources* Undrilled Buried Hills play to be drilled with Bellatrix well (BEL-1) *Reference FAR ASX releases dated 13 Apr 2015 best estimate, gross,…
Expansion of 3D seismic coverage 2015 3D seismic undertaken by Senegal JV FAR Djiffere 3D seismic FAR has the option to earn a 75% working interest in Djifferre block Processing of data from both surveys now taking…
Development of SNE Field and tie back potential 77mmbbl* 74mmbbl* 204mmbbl* 141mmbbl* 168mmbbl* 101mmbbl* *Reference FAR ASX releases dated 13 Apr 2015 best estimate, gross, unrisked prospective resources, 100% basis,…
Senegal economic models 18 Very good PSC terms 16 NPV/bbl (US) 14 Base planning case: 12 NPV/bbl at FID Assumes 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 10%…
Why FAR Fully funded three well Senegal appraisal program underway Ahead of drilling schedule likely to drill fourth well in 3 well budget SNE-2 confirmed commercial flow rates Threshold economic field size (200 mmbbls gross)…
Additional information
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…
Activity schedule to mid 2016 2016 January February March April May June DRILLING Option Well 4 3D SEISMIC processing and preliminary interpretation Ocean Rig Athena drill ship Major offshore Senegal 3 well drilling and…
FAR performance versus ASX 200 energy index 0.12 0.10 FAR: 0.08 Share price (Ap.s.) 7.4cps 14% ASX 200 Energy: 0.06 7,511 -35% 0.04 Brent oil: US35.25 -29% 0.02 0.00 Jan-15 Feb-15 Mar-15 Apr-15 May-15…
FAR performance versus African focused peers 0.12 0.10 0.08 Share price (A per share) FAR (13.6%) Cairn Energy (20.3%) 0.06 Ophir Energy (37.0%) Brent Oil (US/bbl) (37.6%) Kosmos Energy (45.5%) 0.04 Tullow Oil…
FAR is a leading Australian E&P company Australian Mid Cap E&P Market capitalisation in Am 600 500 400 300 200 100 0 BPT KAR FAR DLS AWE SXY HZN CVN Source: ASX data as at 25 January 2016 (excludes Woodside, Oil Search…
SNE contingent resource upgrade Independent Resources Report completed by RISC for FARs SNE oil discovery, offshore Senegal* This supports a 42% increase in the gross, best estimate, recoverable SNE contingent resource to 468 MMstb…
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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