Thursday 24 October 2019

- FAR has undertaken a detailed geotechnical evaluation for its 2 offshore blocks in The Gambia and completed an assessment of hydrocarbon resources

- Combined Prospective Resources for the two blocks assessed at 1.2billion barrels* (unrisked, Best Estimate, recoverable, 100% basis) with 621 million barrels* net to FAR.

- Operations are underway to prepare for drilling in 2020

FAR Gambia Ltd, a wholly owned subsidiary of FAR Ltd has completed detailed geotechnical studies incorporating the Samo-1 well results and data, and have assessed significant hydrocarbon resource potential in its two blocks offshore The Gambia. The Blocks A2 and A5, covering 2,682km2, are adjacent to and on trend with FAR’s world class SNE oil field. A2 and A5 are located within the rapidly emerging and prolific Mauritania-Senegal-Gambia-Bissau-Conakry (“MSGBC”) Basin in water depths ranging from 50 to 1,500 metres. FAR has a 50% working interest and is the Operator of the two licences.

FAR has identified large prospects similar to the “shelf edge” plays FAR has successfully drilled in Senegal and assessed prospective resources of 1.2 billion bbls across the four main prospects (gross, unrisked, best estimate, prospective resource).

More information here.