Petroleum Africa
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Sunday, February 4, 2018
FAR Ltd. completed its detailed geotechnical studies in Gambia which resulted in the two blocks, A2 and A5, being assessed with significant hydrocarbon resource potential.Blocks A2 and A5 cover 2,682sqkm and are adjacent to and on trend with FAR’s SNE oil field and have significant exploration potential.
The blocks sit within the rapidly emerging and prolific Mauritania-Senegal-Guinea-Bissau-Conakry (MGBC) Basin.
From 1,504sqkm of modern 3D seismic data acquired in A2 and A5, FAR has identified large prospects similar to the ‘shelf edge’ play FAR has successfully drilled in Senegal. FAR has mapped two drillable prospects, Samo and Bambo,and additional leads in the blocks.
An independent oil and gas advisory firm, RISC Operations (RISC), conducted an audit of FAR’s internal estimate of Prospective Resources for the Samo and Bambo prospects. The two prospects have a combined best estimate Prospective Resource of 1.1 billion barrels on a gross unrisked basis.
The company is progressing plans to drill its first well in Gambia, with its first prospect being the Samo. It is expected that the Samo well will spud in late-2018.
In addition to the above, FAR revealed it received expressions of interest from third parties to farm-into the A2 and A5 blocks.
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