Far chart, page-9

  1. Ya
    6,809 Posts.
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    It was one of the best week for Oilers on our Bourse. FAR finally caught up with a relief rally from the 11 mil shares that were traded on Friday. Should see more of the same in upcoming weeks in my view.

    I think our mkt needs to hear about the Senegal story as it unfolds in the coming days, starting with-

    1) Mobilisation of the drillship,
    2) Subsequent spudding,
    3) Setting of the conductor for the top hole &
    4) Setting of the 13" casing
    5) Drilling of the 12.25" section towards the 1st core point in the Albian sands
    6) Findings from the wireline logs run over the reservoir section & any fluid samples collected

    Necessary details from the last 2 points should draw more volume & obviously the results of the production test with its findings or dramas should herald the arrival of SNE.

    Just to give some perspective, WPL & its JV had the following gross hydrocarbon thickness from its first 10 wells (2 drilled in 2001, 4 in 2002, 4 in 2003 b4 DoC in Jan'04) up north, 90m, 9m, 97m, 134m, 114m, 0 m, 100m, 88m, 0 m and 126m. Not to mention the issues with the 'riser' & subsequent delay for 3 wks at their first well. FAR&Co are still playing catchup with results from SNE-2, 3 & B#1 to come in due course.

    The high res Broadband data from the 3Dseis swath longwith data from SNE-1 should provide sufficient well control for the JV's current campaign. So fingers crossed for a safe drilling & testing program.

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    Meanwhile another high profile well gets drilled by Kosmos in Mauritania. Snippet from 1st Oct release.

    Kosmos’ second exploration well offshore Mauritania, Marsouin-1, was spud on August 28, 2015, with results anticipated in the middle of the fourth quarter. Marsouin-1 is located in Block C8 approximately 60 kilometers north of the basin-opening Tortue-1 well in a water depth of approximately 2,400 meters. The well is designed to test a four-way trap with multiple stacked targets, including Lower Cenomanian, Albian, and Aptian formations. As operator of the well, Kosmos currently holds a 60 percent working interest with its partners Chevron Mauritania Exploration Limited, a wholly owned subsidiary of Chevron Corporation (NYSE: CVX), and Société Mauritanienne Des Hydrocarbures et de Patrimoine Minier (SMHPM) holding 30 percent and 10 percent, respectively.
    Andrew G. Inglis, chairman and chief executive officer, said, “Our successful semi-annual borrowing base redetermination and amendment of the Atwood Achiever contract are both part of our continuing effort to strengthen our overall liquidity and position Kosmos for success in a ‘lower-for- longer’ commodity price environment. Our favorable financial position and reduced drilling costs further enhance our ability to invest in our exploration and appraisal program to grow shareholder value.” Kosmos also announced today an amendment to its contract for the Atwood Achiever drillship. The agreement reduces the operating day rate and extends the contract end date by one year. As part of the agreement, Kosmos Energy has an option, which may be exercised at any time through October 1, 2016, to revert the contract to the original operating day rate and original end date.

    http://investors.kosmosenergy.com/phoenix.zhtml?c=238878&p=irol-newsArticle&ID=2092179
 
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(20min delay)
Last
41.0¢
Change
0.010(2.50%)
Mkt cap ! $37.88M
Open High Low Value Volume
40.0¢ 41.0¢ 39.0¢ $12.98K 32.15K

Buyers (Bids)

No. Vol. Price($)
1 18800 40.0¢
 

Sellers (Offers)

Price($) Vol. No.
41.0¢ 20060 2
View Market Depth
Last trade - 13.29pm 23/07/2025 (20 minute delay) ?
FAR (ASX) Chart
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