The worlds largest oil discovery since 2014 Resources Rising Stars 24th & 25th May 2016 Gold Coast, Queensland
FAR Snapshot Two major basin opening oil discoveries in Senegal in 2014 SNE field largest global oil find since its discovery in 2014 SNE field appraisal drilling commenced 2015 6/6 successful wells drilled offshore Senegal to date…
FAR Outperformance Last twelve months (% change)(1) Last three years (% change)(2) FAR (2%) FAR 198% Carnarvon Petroleum (9%) Carnarvon Petroleum 109% Brent Oil price (A) (19%) Sino Gas & Energy (20%) ASX200 Energy (28%) AWE…
Senegal Strong in-country relationships: OFFSHORE SENEGAL PSC FAR in Senegal since 2006 FAR 16.7% paying interest, 15% beneficial interest Operator: Cairn Energy PLC Peaceful: Democracy for 200 years Solid growth: 4.7% GDP in 2014…
Senegal Geological Setting W FAN-1 SNE-2 SNE-1 SNE-3 BEL-1 E Buried Hills play Shelf Edge play Fan play 0 10 km 5
FAN-1 Discovery W FAN-1 SNE-2 SNE-1 SNE-3 BEL-1 E FAN-1 well drilled first Result announced Oct 2014 Oil gravity 28-41 degrees API Gross oil bearing interval 500m Operator gross oil (STOIIP) in place FAN Field P90: 250 mmbbls…
SNE-1 Discovery W FAN-1 SNE-2 SNE-1 SNE-3 BEL-1 E SNE Field Result announced Nov 2014 Largest global discovery in 2014 High quality Oil: 32 degrees API Excellent reservoir: 25% porosity Field size has grown significantly 0…
SNE Appraisal Wells Objective of wells and progress to date: Size of oil pool Test reservoir properties and deliverability from logging, coring and testing Measure field connectivity SNE Field Seismic Cross Section BEL-1 SNE-2…
SNE Footprint 350 km2 Source: Google earth, FAR 10
SNE-2 Flow Test Oil flow test SNE-2 200mmbbls 350mmbbls 250mmbbls 400mmbbls 300mmbbls 600mmbbls *Reference FAR ASX release dated 4 January 2016 11
SNE Outline and Well Locations 12
Senegal Prospects and Leads JV PSC area 7,490 km2 3D seismic coverage 5,000 km2 13
Capturing More Shelf Edge Exposure New Senegal joint venture 2015 3D seismic shot along shelf trend New FAR Djiffere 3D seismic provides FAR option to earn a 75% W.I. Final products due Q3 *Reference FAR ASX release…
SNE Development and Tie Back Concept Standalone FPSO with expansion capability for satellite tie-backs Subsea production, gas injection and water injection wells First oil anticipated from 2021 Reference Cairn Energy 2015…
Senegal Preliminary Economics 10 Year Brent Oil Price History (US/BBL) Excellent PSC terms and an improving cost environment Threshold economic field size approximately 200mmbbls* NPV/bbl of US10 at US50/bbl oil price and Oil…
Social Responsibility FAR and its partners are supporting activities that deliver positive, lasting social and economic benefits to Senegal: English language training for students and departments involved in the energy sector Provision…
Whats Next in Senegal Upgrade to FARs contingent resources mid year (new BEL-1, SNE-4 and core data) Receipt of Djiffere seismic data mid Q3 FAR statement on SNE commerciality Q3 Decision to progress Djiffere option Q4 Preparing…
2016 Revealing the Prize 2013: Year of farm-out 2014: Year of discovery 2015/2016: Evaluating the SNE Field 100% success rate offshore Senegal Undrilled exploration prospects with 1bn bbls potential Expanding footprint through…
Contact us Level 17, 530 Collins Street Melbourne VIC 3000 Australia T: +61 3 9618 2550 far.com.au infofar.com.au FAR is going social Follow us on Twitter, LinkedIn and on our YouTube channel
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