Shareholder Update: FAR Back to Exploration Drilling
Thursday 27 April 2017
FAR Limited (ASX: FAR) and the Senegal Joint Venture are drilling the FAN South-1 exploration well into the Southern FAN prospect in the first pure exploration well to be drilled offshore Senegal since the discovery wells of FAN-1 and SNE-1 in 2014.
FAN South-1 will be the next well to be drilled in the current Senegal drilling campaign and will be drilling into the South Fan prospect. FAN South-1 is the first well drilled into the Basin play since the initial FAN-1 discovery well in 2014. The well will assess the upside potential for improved reservoir presence and quality in the basin. FAR assesses the FAN South prospect to contain 134 mmbbls* of recoverable oil on a best estimate basis, with an 18% chance of success (refer ASX release 7 February 2017).
The South Fan prospect consists of several stacked reservoir targets. The well will be drilled to an estimated Total Depth (“TD”) of 5,317 metres in a water depth of 2,139 metres. The firm well plan for FAN South-1 includes logging programs prior to the well being plugged and abandoned.
FAN South-1 will be drilled on completion of the SNE-6 appraisal well which has now reached Total Depth and operations including wireline logging, collection of samples and drill stem testing are underway. SNE-6 has been drilled ahead of planned timing.
More - http://far.live.irmau.com/irm/PDF/2286_0/FANSouth1...