FAR Managing Director Cath Norman said; “The prospectivity of...

FAR Managing Director Cath Norman said; “The prospectivity of FAR’s offshore Senegal acreage is extremely exciting. We have approximately 7,500 square kilometres of area under licence in Senegal and given success in our discoveries in the FAN-1 and SNE-1 wells and subsequent successful appraisal of the SNE oil field, we know we have a prolific working source rock, excellent reservoir development in the area and a good working seal. The new 3D seismic data has allowed us to get confidence in mapping traps along the extension of the SNE trend and also new plays and prospects in the acreage. We are currently drilling SNE-5, the fifth well to appraise the SNE oil field, which will be followd by SNE-6. Because of the relatively low cost of drilling in deepwater at present, our JV has negotiated additional optional drilling slots for the rig. It is likely that one of these exploration targets will be drilled following the current two well campaign, we look forward to keeping shareholders updated as the drilling program progresses. “Several prospects are located within tie-back distance to a future SNE production hub. These prospects have the potential to deliver high value barrels, because they can be developed quickly and at relatively low cost as a subsea tie-back to SNE infrastructure.”