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Sunday, February 28, 2016
Cath Norman, the MD of FAR Ltd., during a question and answer session released by FAR Ltd. discussed the Bellatrix Prospect offshore Senegal and what the “key risks to the Bellatrix Prospect being a success?” are.
Norman said that the two known risks for the Bellatrix were the reservoir and the hydrocarbon mix. The Bellatrix sits above the SNE, where FAR and its JV partners made their significant discoveries, in the Buried Hill Play. The Buried Hill Play is of unknown quality as it has not yet been drilled by the Senegal JV. As for the hydrocarbon mix, Norman said the amplitude anomaly is strongly indicating gas and FAR forecasts it also contains an underlying oil leg, but this will need to be drilled to be proven.
The MD went on to reveal that the BEL-1 well is being spudded as soon as operations at SNE-3 have been completed. FAR estimates has a geological chance of success (CoS) of 49%. Although this is a high CoS for an undrilled play, the Bellatrix Prospect is associated with a very strong seismic amplitude anomaly that conforms to the mapped structure. The SNE field also has a very strong seismic amplitude anomaly that also conforms to structure. After SNE-1 was drilled it proved that the SNE amplitude responded to the gasoil contact in the field.
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