drilling 2 wells in senegal, page-3

Diff good question,

As you know HUNT had planned to drill 2 wells in 2008 with the 3D seismic data they had already, so as this is the SAME DATA that SHELL are now using to determine whether or not to exercise an option (“the Option”) to acquire a 70 percent interest in the Licence Area l feel SHELL will be drilling at least 2 wells (possibly more as the CSEM data may indentify further plays ) with the CSEM Data confirmation in the Senegal Campaign, also FAR should have no problems funding the 20 % stake as they have conveniently arranged to have the required funding in place.


International oil letter Feb 2008

Preliminary interpretation of the 2,086 sq km 3D
seismic data acquired by HUNT in 2007 in the Sangomar Shallow and Sangomar Deep blocks has highlighted multiple plays including a giant Buried Hills (Albian) target.

Mapped are multiple Santonian age fan systems with stacked amplitude anomalies and a very large Albian to Neocomian shelf edge closure. The Albian/Aptian section was previously believed to be made of clastic rocks, but seismic suggests it is a carbonate shelf with potential reef build-up.

The company has plans for drilling on both blocks in 2008. Two drillable prospects have been identified from previous seismic data in the Sangomar Deep block, namely Palmarin and Djifere.

The Palmarin Prospect lies about 110km from the coast in 2,150m of water, and the Djifere Prospect is located 90km from the coast in 1,250m of water. Current license interests are Hunt (60%), First Australian Resources (35%) and Petrosen (10%). Prior to the 3D survey, significant upside potential within the acreage was thought to exceed 1 billion barrels recoverable. SUB-SAHARAN AFRICA



FAR Media release May 2008.

Further work by Hunt has derived reservoir parameters that confirm a range of probabilistic
oil in place (OOIP) estimates for a very large shelf edge closure and multiple fan systems.

Particular focus has been drawn to analogue fields including Cantarell recognized as a super
giant accumulation being Mexico’s and perhaps North America’s largest.
In pre-rift time Senegal was considered to be adjacent to Mexico before the African and American continents
pulled apart.

The 3D defined Aptian shelf edge Prospect falls within the
giant category with mean potential exceeding a billion barrels of oil in place.