Slide 1: FAR's African story is ready to unfold
FAR’s African story is ready to unfold For personal use only Investor Presentation August 2013 Cath Norman
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 Capital Structure Shares on issue 2,499,846,742 For personal use only Share price (at 9 Aug 2013) A$0.044 Market capitalisation A$110M • Australian junior oil and gas explorer Cash and term deposits (at 9 Aug 2013) A$23.7M • Listed on Australian Securities exchange ASX: FAR • Diversified
Slide 4: FAR Board
FAR Board Nicholas Limb Geophysicist and investment banker For personal use only 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: East and West Africa
East and West Africa Senegal Unexplored frontier Kenya Exciting frontier Billion barrel potential Large equity positions For personal use only • Emerging oil and gas provinces AGC Profond • Nine exploration licences in three countries Multiple prospects Expansive acreage • 31,400km2 combined area •
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 • Partner deals recently signed to drill 2 wells H1 2014 RUFISQUE, SANGOMAR & SANGOMAR DEEP OFFSHORE • Partners are Cairn Energy (40%) and ConocoPhillips 16.7% paying interest, 15% beneficial interest (35%) (on conclusion of farm-out and Government approval) 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 in early 2014 • “L” prospect may test Aptian & Albian shelf objectives • Targeting ~200 million barrels1 oil sh
Slide 9: Guinea-Bissau
Guinea-Bissau For personal use only • 3 blocks offshore Guinea Bissau SINAPA (BLOCK 2) & ESPERANÇA (BLOCKS 4A & 5A) • Block 2 contains the Sinapa oil discovery (Premier 21.43% paying interest, 15% beneficial interest 2004) Operator: Svenska Petroleum Exploration AB • Sinapa appraisal well to be dril
Slide 10: Guinea-Bissau: Drilling plans
Guinea-Bissau: Drilling plans For personal use only • West Sinapa well to be drilled mid 2014 to appraise Sinapa discovery • 35% CoS + mean prospective resource of 47.6mmbbls1 • Exploration well to possibly be drilled following West Sinapa (prospect yet to be decided) • Healthy inventory of follow u
Slide 11: East Africa
East Africa For personal use only Large equity in a fast emerging oil and gas margin
Slide 12: Offshore Kenya
Offshore Kenya For personal use only • 2 licences in the heart of the Lamu Basin • Over 100TCF recoverable gas has been discovered in the last two years in Rovuma Basin to south • Anadarko had oil shows in offshore Block L7, April 2013 and Apache discovered gas in Block L8, August 2013 • 16 offshore
Slide 13: 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 • Gas discovery in Apache Mbawa well and oil shows in Anadarko Kubwa well • Farming down for dr
Slide 14: Kenya Block L6: Prospects and leads
Kenya Block L6 : Prospects and leads For personal use only Prospect Play Oil (mmbbls)1 Gas (bcf)1 Miocene 3D seismic prospects Reefs Kudu Updip Kifaru Miocene reef 178 517 Miocene fans Kipini Kifaru West Miocene reef 130 388 Eocene clastics Tembo Eocene clastics 327 807 2D seismic prospects Cretaceo
Slide 15: 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 15
Slide 16: 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 KENYA Drilling Farmout Drill Planning L6 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug
Slide 17: FAR's African story is ready to unfold
FAR’s African story is ready to unfold For personal use only • 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 targets hence highly leveraged to suc