this is the companys latest ann.. on bay courant on the 13th.....

this is the companys latest ann.. on bay courant on the 13th.. dec

ASX ANNOUNCEMENT AND MEDIA RELEASE
Bay Courant confirmed as an oil discovery
Electric logs have confirmed the Bourg Sand Interval (first objective) to be oil productive in
the SL 17316 #1 well at Bay Courant. The operator is presently running 5 and 1/2 inch
production casing.
The Boug Sand logged approximately 12 feet of net pay. The Pelican Sand Interval between
12,075 and 12,092 feet and Duval Sand interval between 12,687 and 12,695 feet had
hydrocarbon shows however these are non productive based on electric logs. Initial
interpretation suggests these sands to be structurally low to prognosis and further evaluation
of these intervals to determine an optimum structural location to site a future well will be
undertaken.
A deeper Bay Courant structure, mapped on seismic, is also yet to be evaluated by a test well
at a crestal location. Known as the “Pr Zone” this play provides significant upside in the
deeper pressured sands similar in concept (although smaller) than FAR’s recent Lake Long
Deep test. Majors have expressed an interest in farming into the lease for a deep test.
(TODCO Barge Rig, South Louisiana, courtesy www.carlmaples.com)
The Bay Courant Project is located in the intracoastal State waters, Lafourche Parish, South
Louisiana.
FAR’s working interest at Bay Courant will reduce from 20 percent to 15 percent once payout
has been achieved. FAR is the only listed entity participating in the project with other
interests held by North American entities.