Can someone please explain the below to me.
FAN-1 has the potential to contain approx. 900 million barrels of oil with approx. 115 million barrels of oil net to FAR.
"The FAN-1 well will test a stacked fan structure with the potential to contain approximately 900 million barrels of oil (mmbbls)* with approximately 135mmbbls net to FAR* which owns a 15% working interest. "
"The FAN-1 well is a pure exploration well and, even if successful, will not be completed as a commercial production well. In the event of a success, the Joint Venture may decide to conduct further drilling and evaluation activities"
FAN-1 is purely an exploration well though, so who are they saying FAR is entitled to 135 million barrels of oil?
Or am i interpreting the wording incorrectly?
Source:
Shareholder update - Senegal drilling program
28/07/2014
FAN-1
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