Far Ltd · ASX:FAR
Far — First Australian Resources — Excellence In Oil & Gas Presentation (May 2008)
21 slides from Far's conference presentation, May 26, 2008
Slide 1: First Australian Resources Ltd – Excellence In Oil & Gas Presentation
For personal use only First Australian Resources Ltd “mean oil potential of > 1 billion barrels” Excellence In Oil & Gas Presentation 26 May 2008 1
Slide 2: Disclaimer
DISCLAIMER For personal use only ¾ This presentation does not constitute an offer to sell securities and is not a solicitation of an offer to buy securities. It is not to be distributed to third parties without the consent of First Australian Resources Limited. (“FAR”). ¾ This presentation contains
Slide 3: Overview of FAR
Overview of FAR For personal use only Capital Structure • Focus on world class offshore Senegal Shares on issue 483,553,344 Project Share price $0.13 Market capitalisation $62,861,935 • Multiple prospects ranging from around Cash on hand (31 March 2008) $5,000,000 Convertible Notes on issue $5,390,0
Slide 4: Senegal
For personal use only Senegal 4
Slide 5: Senegal, West Africa
Senegal, West Africa For personal use only • FAR is the only ASX listed entry in this world class play. Acquired 30% interest in 3 concessions offshore Senegal in Jan 2006 • FAR 30% interest. Acquired from Hunt Oil Company (60%), Petrosen (Senegal State Oil Company) (10%) in Jan 2006 • Currently in
Slide 6: West Africa – Proven Petroleum Systems
West Africa – Proven Petroleum Systems For personal use only • Northwest African margin is relatively unexplored, but has had numerous recent and sizeable discoveries 6
Slide 7: Highly Prospective Petroleum System
Highly Prospective Petroleum System For personal use only
Slide 8: Case Study of Hardman Resources
Case Study of Hardman Resources For personal use only • Senegal provides FAR with the opportunity to replicate the success of Hardman Resources • Hardman market cap $10 million in 1999, market bid of $1.5 billion by Tullow Oil Plc in 2006 (started with adjacent Mauritania Project) 10 times uplift in
Slide 9: Senegal – Stable Environment
Senegal – Stable Environment For personal use only • Dakar, capital city of Senegal and former capital of French West Africa, is located on the westernmost point of Africa, and is known as a gateway to the African continent • A semi-arid country, with a population estimated at more than 10 million,
Slide 10: Senegal Animated Movie Clip
Senegal Animated Movie Clip For personal use only 10
Slide 11: Senegal 3D Proves-up Massive Prospects
Senegal 3D Proves-up Massive Prospects For personal use only • Acquired 2050 km2 3D seismic at a cost of US$14m in 2007 • Final Processed volume arrived in-house mid-Jan 2008 • 3D interpretation completed Q1 2008 • Slope fan attribute work completed Q1 2008 • Marketing commences April 2008 to farm o
Slide 12: Senegal Targets
For personal use only Senegal Targets 12
Slide 13: China
For personal use only China 13
Slide 14: Block 22/12 Development Planning
Block 22/12 Development Planning For personal use only • FAR 5% interest* • Roc Oil (China) Company operator 40%, Horizon Oil Limited holding 30%, Petsec Energy Limited 25% • Block 22/12 located in proven hydrocarbon area • Water depth 5m-40m, area 364 sqkm • Wei 6-12-1 exploration well drilled 1Q 2
Slide 15: North America
For personal use only North America 15
Slide 16: US Gulf Coast & Alberta, Canada
US Gulf Coast & Alberta, Canada For personal use only • FAR has built a mature exploration and production business in the US over almost two decades of doing business in Texas and Louisiana, and in 2005 established an office in Huston, Texas • FAR’s primary focus in the US has recently been on near
Slide 17: US Gulf Coast – NE Waller, Texas
US Gulf Coast – NE Waller, Texas For personal use only • FAR has identified and worked up this ground floor opportunity • Play was based on 100 miles of existing 2D seismic data • On strike with fields that have produced over a quarter trillion cubic feet of gas and thirty million barrels of liquids
Slide 18: Summary
For personal use only Summary 18
Slide 19: Activity 2008
For personal use only Activity 2008 19
Slide 20: Summary
Summary For personal use only • FAR has secured a 30% interest in 3 concessions offshore Senegal, acquired 2050 sq km 3D processed data and mapped multiple prospects • Prospects include: • 3D defined Aptian shelf edge prospect with mean potential exceeding 1 billion barrels of oil in place • Fan sys
Slide 21: More info at www.far.com.au
For personal use only More info at www.far.com.au 21
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