FAR 0.00% 50.5¢ far limited

andarko & others, page-10

  1. 1,132 Posts.
    To state the obvious the reason there is a lot of interest in FAR is not for its huge potential but for its Fricken Massive Huge Potential.
    Success at FAR won't see a measly double or triple of the Market Cap, its endless where it will end up.

    Anadarko is the operator of blocks L7 and L11B and holds 45 percent of the licences in each.
    The company is "drilling in Block L7 and Block L11B, back-to-back. I guess next year ... I'll be talking about billions of barrels discovered in Kenya," Nyoike told reporters

    The two wells, known as the Kiboko prospect in block L11B and the Kubwa prospect in block L7, will be drilled back to back and cost about $140 million each.

    “The wells could be game changers for Kenya if massive resources are found,” Nyoike stated.

    Anadarko has said it hopes to find oil, rather than gas.

    FAR's L6 right next door is considered by the industry to be one of the better prospects in Kenya. "A deep central graben is considered to be an oil and gas “source kitchen”
    and prospects have been identified immediately adjacent to this area.

    "The Kifaru Prospect is a stacked series of Oligo-Miocene reefs. Good quality oil-mature source rocks are interpreted in the Eocene below and adjacent to the reefs in the Maridadi Trough.
    Miocene reefs worldwide host very large oil and gas reserves and often have very high per-well production rates."
 
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