Success at Kora-1 is not only massive to FAR, but for the whole region. This is from African Petroleum (AOQ) Investor Presentation:
"Ophir Energy, an unlisted and experienced African explorer, will shortly commence drilling a very significant well offshore Senegal/Guinea Bissau. The results of the well will confirm whether an active petroleum system is functioning in the deep water play to the North of Sierra Leone where the Venus discovery was made and has the potential to enhance the prospectivity of AOQ?s acreage in this region. The Kora-1 is located in the Senegal Guinea Bissau Common Zone and will be drilled in 2600m of water the by the Maersk Deliverer in April 2011. The well will target a four way dip closure with primary and secondary targeted reservoirs of cretaceous age and a mean prospective resource of 448mmbbls. The prospect has been further de-risked by the results of Closed Source Electromagnetic (CSEM) survey which identified an anomaly coincident with the mapped prospect. Note that ASX listed FAR has a 10% interest in the well."
With a good result at Kora-1;
- Ophir will commit to its 25% stake in Senegal
- If no decree by then this commitment should nail it
- Schedule 1-2 wells in Senegal
- Ophir will look to drill some of the 16 locations in ACG Profond
Add to that the well at Sinapa and we should be seeing a FAR put up a FOR SALE sign for $1.??
Call to all Far'ies to cross all their digits, only weeks to go now.
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Success at Kora-1 is not only massive to FAR, but for the whole...
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