Also other companies are pinning their hopes on FAR. (CAP Energy)
http://www.edisoninvestmentresearch.com/research/report/cap-energy1
The discovery of oil in Cairn Energy’s FAN-1 well offshore Senegal has confirmed a proven hydrocarbon system in the basin and should boost the prospectivity of Cap Energy’s assets in the adjacent Djiffere block. However, the second well in Cairn’s campaign, the SNE-1 well currently drilling, will be more geologically analogous to Cap’s future prospects in Senegal. In saying this, the FAN-1 well is relevant to the company’s other key area of Guinea-Bissau, where a 3D seismic survey is planned to kick off in early November 2014 and will be used together with the application of Rex Virtual Drilling technology to identify oil-bearing prospects.
Valuation Problem, page-78
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