Slide 1: Annual General Meeting 2021 - Presentation
22 June 2021 Annual General Meeting 2021 - Presentation In accordance with the Listing Rules, FAR Limited (ASX: FAR) releases the attached, to be presented at the Company’s Annual General Meeting to be held at 11am today, 22 June 2021. This announcement has been approved for release by the FAR Limit
Slide 2: Annual General Meeting
Annual General Meeting 22 June 2021
Slide 3: Looking forward in FAR
Looking forward in FAR • 2020 Decision made to sell Senegal project • Sale process expected to complete before end June • History of exploration success, extensive exploration database, excellent government relationships in Gambia and Senegal have paved way for next chapter • FAR looking forward to
Slide 4: The Gambia
The Gambia Block A2 & A5 50% interest Operator: FAR Limited
Slide 5: The Gambia
The Gambia • Rig contract executed for spud 1 Oct – 30 Nov 2021 • FAR share of cost est US$24M • Targeting 3 key prospects Soloo (extn of Sangomar), Bambo and Soloo Deep • Total 1.18bn bbls at 7-37% CoS • Well satisfies A2 and A5 licence obligations until end 2022 • Using same drill team as per Samo
Slide 6: Bambo-1 well
Bambo-1 well • Soloo Prospect is extension of discovered hydrocarbons in the Sangomar Field • Bambo Prospect is a large exploration prospect which overlies Soloo • The planned well will be targeting 1.1 billion bbls (P50) Gambia Low Estimate Best Estimate High Estimate COS prospects (mmbbls)* (mmbbl
Slide 7: Bambo-1 operations & logistics
Bambo-1 operations & logistics Spud: 1 Oct – 30 Nov Duration: Approx 30 Days Rig: Stena IceMax Well management: FAR/Exceed 6
Slide 8: Social contribution – The Gambia
Social contribution – The Gambia MATERNITY WARD THE GAMBIA BANSANG HOSPITAL WATER DISTRIBUTION AND STORAGE FACILITIES SANYANG WOMEN’S GARDEN ELECTRICAL NDEMBAN CLINIC WORKS UPGRADE COVID JAMBANJELLY TESTING AND LOWER BASIC TREATMENT SCHOOL CENTRE
Slide 9: Guinea-Bissau
Guinea-Bissau Block 2 (Sinapa) Compelling Block 4A & 5A (Esperanca) exploration in the southern MSGBC Basin 21.43% interest Operator: PetroNor E&P
Slide 10: Guinea-Bissau
Guinea-Bissau • Operated by PetroNor • Well obligation by end 2023 9
Slide 11: Australia
Australia Petroleum Exploration Permit WA-458-P Farmout/sale Dampier Sub-basin, Northern Carnarvon Basin, process underway North West Shelf 100% working interest & operator
Slide 12: Forthcoming drilling program
Forthcoming drilling program 2021 2022 The Gambia Drill planning Drilling Evaluation of drilling Bambo-1 Blocks A2/A5 Bambo-1 appraisal* July Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Guinea-Bissau Drill planning Drilling Evaluation Blocks 2, 4A & 5A July Aug Sep Oct Nov De
Slide 13: Why Africa?
Why Africa? Peak oil has arrived 2% Global CO2 emissions Capital not available for oil and High projected energy demand Demand for oil recovering gas companies Income from oil and gas to Oil price to hit $100/bbl by year No new exploration leases or support sustainable growth end (GS) sanctioning of
Slide 14: Disclaimer
Disclaimer • This presentation has been prepared by FAR Limited (‘FAR’). It should not be • This presentation does not purport to be all inclusive or to contain all considered as an offer or invitation to subscribe for or purchase any shares in information which you may require in order to make an i
Slide 15: Contact us
Contact us Level 17, 530 Collins Street Connect with FAR Limited: Melbourne VIC 3000 Australia T: +61 3 9618 2550 info@far.com.au far.com.au