Far2,
Those 2 were awarded to CN's Flow Energy back in July2011, b4 FAR merged with Flow.
FAR brought Senegal etc & Flow brought WA457-458, Kenya L6-L9 blocks to the merged entity.
Here's the 'exploration' protocol in Oz in a nutshell.
Each year Operator's have to relinquish certain sub-blocks from their permits usually granted for 6 yrs tenure. These dropped sub-blocks r then recycled & flogged off with the existing 2D/3D or drilling data by the WA-DMP in a new round of Auction to new bidders & they rake in revenue in the form of Annual rent whilst the Operator justifies their plans of geotech study, shoot or review seismic data b4 committing to drill a well in the later part of their tenure. It's a tried & tested formula that works in each State's Mines Dept & is referred to as Land banking.
For the record, WPL drilled Dampier-1 in WA457 in 1968-69. In WA458 they drilled Patriot-1 in 2001 & Pleiades-1 in 2006, b4 relinquishing them from the original Permit.
-------------------------------------------------------------------------------------------------------------------------------------
Hi Linc,
BH has a good closure with an anomaly like SNE somewhat at a shallower depth (at 2300m), so its worth a crack.
Central Fan also has 3 distinct anomalies at 3950m, 4100m & 4400m. So should b drilled to suss out the signature.
Whether these anomalies on the 3Dseis r from gas/oil/water, we cant tell, only the JV should b able to tweak & massage their sub-surface model. They can shoot high res 3Dseis & calibrate the 'amplitude' from these 2 drilled wells to pick the best location.
I think its early days for FAR to even think of selling its 15%. ENI did that mistake at Chinguetti. Sold its 35% in 2003 to WPL for US$77mil, & we all know what happened after that in 304 yrs with Tullow buying HDR & PETRONAS buying WPL's share.
I'd say to FAR's mgmnt drill atleast 2 more holes & based on the results find the appropriate funds. The SP will look after itself. They r onto something good here. U never know when the talent scouts from Woodside might wake up & run to their New Ventures Leader about 2 new oil finds in a country called Senegal.
I still shake my head in disbelief at the decision to drill Kora, when they had this 3Ddata for Fan & SNE, anyways that's all in hindsight.
Cheers
- Forums
- ASX - By Stock
- FAR
- ConocoPhillips has the option to take over as operator of the project it advances to development,
ConocoPhillips has the option to take over as operator of the project it advances to development,, page-13
-
- There are more pages in this discussion • 4 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add FAR (ASX) to my watchlist
|
|||||
Last
50.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $46.20M |
Open | High | Low | Value | Volume |
49.5¢ | 50.0¢ | 49.5¢ | $43.20K | 86.49K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 21776 | 50.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
50.5¢ | 94070 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 38702 | 0.495 |
1 | 99999 | 0.490 |
2 | 104597 | 0.485 |
4 | 260000 | 0.480 |
1 | 100000 | 0.475 |
Price($) | Vol. | No. |
---|---|---|
0.505 | 94070 | 2 |
0.510 | 200000 | 2 |
0.515 | 120000 | 2 |
0.520 | 335203 | 4 |
0.525 | 118000 | 2 |
Last trade - 15.57pm 23/08/2024 (20 minute delay) ? |
Featured News
FAR (ASX) Chart |
The Watchlist
SER
STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
David DeTata
Managing Director
SPONSORED BY The Market Online