Slide 1: FAR's African story is ready to unfold
FAR’s African story is ready to unfold For personal use only Investor Presentation September 2013
Slide 2: Disclaimer
Disclaimer For personal use only • This presentation has been prepared by FAR Limited (“FAR” or the “Company”). constraints, securing drilling rigs, timing of approvals from relevant authorities, It should not be considered as an offer or invitation to subscribe for or purchase regulatory risks, ope
Slide 3: Our Company
Our Company For personal use only • Australian junior oil and gas explorer Capital Structure • Listed on Australian Securities exchange ASX: FAR Shares on issue 2,499,846,742 Share price (at 6 Sep 2013) A$0.041 • Diversified African asset base Market capitalisation A$102.5M (9 licences in 3 countrie
Slide 4: FAR Board
FAR Board For personal use only Nicholas Limb Geophysicist and investment banker Non-Executive Chairman 15 years as MD/Chairman of an ASX listed, international mining company, Australia. Appointed 2012 10 years in Financial services with May and Mellor and HSBC. 35 years industry experience in the r
Slide 5: Africa: West and East emerging oil and gas provinces
Africa: West and East emerging oil and gas provinces For personal use only • 9 exploration licenses in 3 countries, combined 31,400 km2 area • Combined best estimate unrisked prospective resources 7,000 mmbbls* • 5 wells in next 18 months1 Senegal Kenya Unexplored frontier Exciting frontier Billion
Slide 6: Offshore West Africa
Offshore West Africa For personal use only Strong acreage position in Senegal, AGC Profond & Guinea Bissau
Slide 7: Senegal
Senegal For personal use only • Farm in deals recently signed to drill 2 wells H1 2014 RUFISQUE, SANGOMAR & SANGOMAR DEEP OFFSHORE 16.7% paying interest, 15% beneficial interest • Partners are Cairn Energy (40%) and (on conclusion of farm-out and Government approval) ConocoPhillips (35%) Operator: C
Slide 8: Senegal: Prospects and Leads
Senegal: Prospects and Leads For personal use only • Petroleum system established – Rufisque Dome • World class Turonian and Cenomanian source rocks • Drilling shelf edge and deepwater fan • ~550 million barrels1 oil shelf prospect • ~900 million barrels1 deepwater fan prospect • Chance of discovery
Slide 9: Senegal: North Fan Prospect
Senegal: North Fan Prospect For personal use only North Fan Prospect Best estimate unrisked prospective resource* North Fan (H 82) 117 mmbbls North Fan (H 85) 199 mmbbls North Fan (H 88) 151 mmbbls North Fan (H 89) 165 mmbbls West East Approximate North Fan Well location *From FAR internal prospecti
Slide 10: Senegal: 'L' Prospect
Senegal: ‘L’ Prospect Lupalupa objective (Albian sands) Albian Amplitude Extraction For personal use only L Prospect FAR Most Likely unrisked Prospective Resource Lupalupa – Albian sands 154 mmbbls Boabab – Aptian carbonates 491 mmbbls Baobab Objective (Aptian carbonates) 11
Slide 11: Guinea-Bissau and AGC
Guinea-Bissau and AGC For personal use only • One block in AGC, three blocks offshore Guinea Bissau BLOCKS 2, 4A & 5A AGC PROFOND • Large permit area > 15,000 km2 15% interest 8.8% interest • Shallow water (60m) Operator: Svenska Petroleum Operator: Ophir Energy PLC • Sinapa oil discovery (Premier 2
Slide 12: East Africa
East Africa For personal use only Large equity in fast emerging oil and gas margin
Slide 13: Offshore Kenya
Offshore Kenya For personal use only • Large acreage position in fast emerging Lamu basin BLOCK L6 BLOCK L9 • >100TCF recoverable gas discovered in the last 60% interest 30% interest three years in Rovuma Basin to south Operator: FAR Limited Operator: Ophir Energy PLC • 16 offshore wells drilled off
Slide 14: Kenya
Kenya For personal use only Block L6 BLOCK L6 BLOCK L9 • FAR operator with 60% interest 60% interest 30% interest • 3.7 billion bbl1 oil potential in block Operator: FAR Limited Operator: Ophir Energy PLC • High quality prospects identified on new 3D (130-330 million bbl1 prospects) • Emerging oil p
Slide 15: Kenya Block L6: Prospects and leads
Kenya Block L6 : Prospects and leads For personal use only Maridadi-1 Oil Sample Miocene Reefs Kudu Updip Miocene fans Kipini Eocene clastics Cretaceous clastics Chui 2D Prospect 3D Prospect Nyati SW Kifaru West Kifaru NE Nyati West Kiboko 20kms 17
Slide 16: Kenya Block L6: Miocene reefs
Kenya Block L6 : Miocene reefs For personal use only Kifaru prospect SW Kifaru West Kifaru NE • 60-260m water • CoS 19% • 29 km2 • 178 mmbbls1 or 517 bcf1 Kifaru West prospect • 60-260m water • CoS 18% • 24.5km2 • 130 mmbbls1 or 388bcf1 L6 Reef Prospect Best estimate unrisked prospective resource* K
Slide 17: Kenya Block L6: Tembo structure
Kenya Block L6 : Tembo structure For personal use only NW Tembo SE Top Kipini Sand (contour interval 25m) L6 Tembo Prospect Best estimate unrisked prospective resource* Eocence Sands** 327 mmbbls or 807 bcf *From FAR internal prospective resources 27 Feb 2013, best estimate, gross, unrisked prospect
Slide 18: Cross section through Lamu Basin
Cross section through Lamu Basin L6 L8 L7 For personal use only Davey Walu Kifaru Tembo High Mbawa Kubwa Depth 1000 Reefs Tertiary 2000 3000 Delta sands S 4000 Turbidites S Cretaceous 5000 6000 S 7000 Jurassic 8000 9000 20
Slide 19: Kenya: Community relations
Kenya: Community relations For personal use only Mark Jenkins addressing a local community along the coast Community awareness program, coast of Kenya Locating the Kipini-1 wellhead Collecting data for the Environmental Impact Assessment 21
Slide 20: Timetable of events
Timetable of events For personal use only 2013 2014 SENEGAL Drill Planning Drilling Drilling Evaluation of Drilling Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Apache/BG/Afren Wells KENYA Farmout Drill Planning Drilling L6 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun J
Slide 21: FAR's African story is ready to unfold
FAR’s African story is ready to unfold For personal use only • Two major farm out deals completed • Drilling two wells offshore Senegal early 2014 with ConocoPhillips and Cairn Energy • Drilling end 2014 offshore Kenya following Anadarko, BG, Apache and Afren • Large equity positions and very large