An outstanding African success story Investor update presentation March 2015
Our company Two world class discoveries in FAN-1 and SNE-1 wells offshore Senegal Appraisal planning underway Net cash at end 2014 67M (no debt) Partners in Senegal: ConocoPhillips and Cairn Energy Farmed out 240M of work program in…
FAR Share price performance relative to sector 500 160 Market Cap A269m based on closing (31-Dec-14) share 400 140 price of 8.6cps +169% yoy FAR market capitalisation (Am) Brent Oil Price (A/bbl) 300 120 200 100…
FAR Liquidity relative to industry peers FARs liquidity has substantially improved from mid 2014, supported by the discoveries, news flow and enhanced broker coverage 1.1% 1.0% FAR: 0.94% 0.9% 0.8% 0.7% Liquidity(1)…
FARs prospects offshore Senegal Two carried exploration wells offshore Senegal First offshore drilling for 40 years and first ever deepwater wells Success in both exploration wells Derisked large inventory of prospects
Senegal Stable democracy: 196 years Peaceful country Capital Dakar Population 14M FAR in Senegal since 2008 FAR enjoys good standing with the Government, Petrosen and other stakeholders in Senegal FAR was operator with 90%…
Senegal Discoveries in both in FAN-1 and SNE-1 wells RUFISQUE, SANGOMAR & SANGOMAR DEEP OFFSHORE 16.7% paying interest, 15% beneficial interest FAR 15% interest Operator: Cairn Energy PLC Permit area of 7,000 km2 Partners are Cairn…
Senegal: Prospects and Leads summary Deepwater fan (FAN-1) well and shelf edge (SNE-1) well drilled 2014 Two discoveries 3.5 billion barrel* follow up potential in mapped prospects *From FAR internal prospective resources 27 Feb…
Senegal: Drilling schematic 9
Senegal: FAN-1 well discovery 500m gross oil interval 29m net oil interval Pre-drill prospective resources: FAN-1* 28o 41o API oil Upper fan (North Canyon prospect) 304 mmbbls No oil/water contact encountered Lower fan (Beer…
Senegal: SNE-1 well discovery Discovery in Albian sands prospect SNE-1 gross contingent resources 96m gross oil column Low estimate 150 mmbbls 36m net oil column Best estimate 330 mmbbls High estimate 670 mmbbls Excellent reservoir…
Senegal Proven prolific oil generating source rock Both FAN-1 and SNE-1 potentially scale for standalone development Analysis of both wells continuing Evaluation program to be submitted to Government of Senegal end April 2015…
FAR story unfolding Significant discoveries on first two wells offshore Senegal Significantly derisks remaining prospects in the acreage Evaluation program to commence Q4 2015 A67M cash end 2014 Kenya story yet to unfold
Contact us Level 17, 530 Collins Street Melbourne VIC 3000 Australia T: +61 3 9618 2550 www.far.com.au 14
Appendices 15
Senegal pre-drill prospective resources Unrisked Best FAR Unrisked Best Risked Best Estimate Estimate Prospective Working Estimate Prospective Chance of Prospective Resources Resources Interest(1) Resources (net to FAR) discovery(2)…
Senegal: Global deepwater economics In a US100/bbl oil price environment the exploration prize remains very material. Deepwater also does not necessarily mean lower unit value (especially where oil is discovered). Technical challenges and…
Senegal: FAN-1 comparison with Jubilee Jubilee was one of the largest worldwide finds of 2007, and the largest find of the entire decade offshore West Africa. The Jubilee discovery was significant, not only because of its size, but also…
FARs prospects in East Africa Large equity in Kenyas fast emerging Lamu Basin Free carried through seismic and a well in 2015
Kenya Large acreage position in Lamu Basin BLOCK L6 BOCK L9 60% interest offshore 30% interest Farmout completed for onshore L6: 24% interest onshore Operator: Ophir Energy PLC Operator: FAR Limited total work program US30M…
Kenya: Lamu Basin Proven oil at both ends of reef play BLOCK L6 60% interest offshore BOCK L9 30% interest Sunbird-1 well in Block 10A 24% interest onshore Operator: FAR Limited Operator: Ophir Energy PLC - Oil and gas…
Community projects Flood relief program in Senegal Mosquito nets in Senegal Donation of soccer balls in Guinea Bissau Community consultation and education in all our areas of activity where appropriate
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…
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