Slide 1: Slide 1
Slide 2: Disclaimer
DISCLAIMER me nd project : j those identified by the use of forwar king termin oa ul o rds as © ‘may’, will” Soctimates”, “continue”, “anticipates”, intends” “sh chedule”, oar ay teal © the negatives thereof ooking state ents are subj sults to diff erially fon those expressed estimates are Feasonadi
Slide 3: Non apersice w ars
Non apersice w ars flow in North America Shares Mki Cap (@ 13.5c) __ _ara7ea3s5 S55, lie | 10500000 : 7,700,000
Slide 4: Global Exploration Portfolio
GLOBAL EXPLORATION PORTFOLIO
Slide 5: c
c
Slide 6: Hardman
oe 388 5.200. Hardrnan HOPLAGX (08) 10 times uplift in share price from securing the blocks to spudding
Slide 7: FAR Share Price and Volume (July 2003 - May 2007)
FAR Share Price and Volume (July 2003 - May 2007) _ Large BD seismic over Offshore | | Senegal commences 45,000,000 Z| Convertibie Notes ecue to |: fae $6d4m 40,000,000 35,060,000 | Capital raising al 13 | totaise $12. 35m. 30,000,000 25,000,000 20,000,000 15,000,000 10,000,000 5,000,000 a no Volume
Slide 8: Slide 8
Slide 9: Growing Recognition
GROWING RECOGNITION SHAREHOLDER NUMBERS INSTITUTIONAL GROWTH HELD 25 20 5 10 | LOD, 2001 2002 2003 2004 2005 2006 2001 2002 2003 2004 2005 2006 MARKET CAP 60000000. 50000000. 40000000. 30000000. 20000000. 70000000. 2002 «2003 2004 = 2005-2008
Slide 10: Deal Makers
E DEAL MAKERS”
Slide 11: Slide 11
Slide 12: Slide 12
Slide 13: Slide 13
Slide 14: By exploring in the same places as the big boys?
(1) By exploring in the same places as the big boys? Rubbing shoulders with: Mkt. Cap US Billion Whereabouts: BP 198.1 Lake Long Leaseholder, Louisiana PETROBRAZ 100.0 Adjacent offshore block, West Africa CNOOC 35.0 Offshore Beibu Gulf, China SUNCOR 32.5 Wild River, Alberta, Canada Apache 22.0 WA-25
Slide 15: Hey ae bee
Hey ae bee
Slide 16: Slide 16
Slide 17: Slide 17
Slide 18: Senegal Project
L Senegal Project | January 2006 FAR acquired 30% interest in 3 concessions offshore Senegal, West Africa Acquired from Hunt Oil Company (60%) and Petrosen (10%) Giant prospects & leads identified by Hunt based on 1980's seismic acquired by Shell and others Potential > one billion barrels recoverabl
Slide 19: Mauritania-Senegal-Guinea Bissau Basin
Mauritania-Senegal-Guinea Bissau Basin Deep water play with giant hydrocarbon potential in the productive Mauritania-Senegal-Guinea Bissau Basin “Dana Petroleum Blocks 7 &8 Pelican gas discove Woodside Chinguett, Tioff, Tevet, and Banda oil and gas discoveries Fortessa Theis block iba bee 1 retin ie
Slide 20: Play Type Distribution
Play Type Distribution Schematic Cross-Section Highlighting Play Type Distribution Sangomar - Rufisque Blocks, Offshore Senagal Rutisque Dore | Tararian- Albion 0) Cancmanien subSenosian unocaisanity trap: @ Carbonate debris apran | Aptian Mid rawale (2) Aptioos rudiatid carbesnnta blige @) Outtosnr
Slide 21: Prospect and Lead Inventory
Prospect a and Lead Inventory » Prospect C1 = Cenomanian sandstone reservoirs in sub- Senonian unconformity 4-way depth closure (EUR = 180 - 320mmbo) Prospect N3 = Aptian build-up ina 4-way depth way closure (EUR = 120 — 418 mmbo) Leads N2-NS = Aptian build-ups Lead N6 = Aptian carbonate 4-way dip c
Slide 22: Senonian Sandstone Stratigraphic Potential
Senonian Sandstone Stratigraphic Potential Numerous amplitude packages associated with canyons in steep slope > Significant upside potential requiring 3D to validate Banda, Okume, Oveng Banda, Okume, Oveng
Slide 23: Santonian channelised fan estimated reserves
Santonian channelised fan estimated reserves Mean=766.2206 V > 8 e re] 5 > 2 in 1000 EUR(mmbo) 1503.984
Slide 24: Senegal Exploration Timeline
SENEGAL EXPLORATION TIMELINE 1 year extension. 2006 a2 QS 9 & Oo Qs O4 4 LE apt tack: migration S-D Selemic Processing cas Interpretation- Prospect Analysis _ 1 = passe kes en hewn we eee keene en ee hae y [Betermine tig availability Contract drill rig € i ae ee ee ee ee ee ee ee re ee ee 2 al SOOZ/
Slide 25: Ground floor 3D shoot at Wild River, Alberta, Canada
jround floor 3D shoot at Wild River, Alberta, Canada FAR 36%)
Slide 26: Slide 26
Slide 27: Block 22/12, Beibu Gulf
BLOCK 22/12, BEIBU GULF Wei 12-4: Fietd (CHOOE] Wel 12-8 West: BLOCK 22/12 a ie eae Bresepeds Lend Seng wilh potential te Siraligentte: G08
Slide 28: In May 2006, FAR made an oil discovery in shallow water, offshore China
IN MAY 2006, FAR MADE AN OIL DISCOVERY IN SHALLOW WATER, OFFSHORE CHINA FAR 5%" Water Depth 5 - 40m Area 364 sq km Wei 6-12-1 exploration well drilled 1Q 2002 — small oil discovery. Wei 6-12S-1 exploration well, drilled 1Q 2006 - oil discovery. 5,750 BOPD cumulative flow from three zones within thre
Slide 29: Beibu Gulf Block 22/12 (FAR 5%)
Beibu Gulf Block 22/12 (FAR 5%* ) Development candidates Discovery Gross rec reserves Crude type (mmbo} Wei 6-125 28 (pre-drill} Weizhou Wei 6-12 5-10 Weizhou Wei 12-SE Jiaqwei (viscous) Wei 12-8w Jiaowei (viscous) Wei 12-3 Weizhou Wei 12-2 (not appraised} Liushagang Total * Subject to CNOOC partici
Slide 30: Fields, prospects and leads in the northern part of Block 22/12
FIELDS, PROSPECTS AND LEADS IN THE NORTHERN PART OF BLOCK 22/12 Beibu Gull, offshore China Wei 6-12 SE __
Slide 31: Key Seismic Line
KEY SEISMIC LINE WEI 6-12 West Prospect WEI 6-12 South Field BOS. #80 zane
Slide 32: eo Tetfior
eo 4 Tetfior yoo | q W.A. 2 \ : | ; = \ ; . \yKatgoorte < NT / e. yom Alice Springs [
Slide 33: eee i
eee 7 i ii , ) TT
Slide 34: | HE Oil and Gas well
| HE Oil and Gas well | 46 Oil and Gas show “> Ol show | Dry well Major self margin fault Leads and prospects Devonlan carbonate shelf edge | Gas field Gil ietd
Slide 35: in ! ted potential million barrels ol
in ! ted potential 200 million barrels ol
Slide 36: Canning Basin drilling (originally published 3rd May 2007)
Originally Published 3rd May 7007 fanning Grilling (ARBAVAR/PGL/EGE/ EME) In June, Are wells to test thi roy will roll its dead large Valerntir co irate. the Canning Basin frorn whi hellower Stokes Bay cise ie will dedi ry. rigp a | rege te su at the srialler Stokes Bay well and te the larger Valent
Slide 37: WA-254-P Location - FAR 10.7%
WA- -254-P Location - FAR 10.7% Ae MADELEINE 1 WA-1 TL PROSPECT HURRICANE 1 YE Jal LEGENORE WEST 1 die] Duomonte Prospect — <r ae E PLA . PLANAIRE 1° 339) LEGENDRE PU Duomonte-1 will target the HEULCAT wt 4 Legendre Formation at 2,550 WA-28-P (1) fo SAMEON 1 : metres with d recoverable Sats reserves
Slide 38: Western Canada
Western Canada sae Provincial Copiiat ~ Populated Avex Frans Canada Highway hinder Romds: tat, Labs: Rivers: Bese, cs Ef s \ a LOCATION MAP
Slide 39: US Gulf Coast
US Gulf Coast UNITED STATES OF- AMERICA. M@ Cheyenne : Chicago a” San Francisco EAGLE PROSPECT. "a Los Angeles a HARDEMAN : OILFIELDS LOUISIANA | TEXAS PROGRAM ; New Orleans Mexico
Slide 40: L boepil)
L 234 boepil)
Slide 41: NE Waller Gulf Coast 3D Seismic
NE Waller Gulf Coast 3D Seismic “Play” based on 100 miles of existing 2D seismic data On strike with fields producing over a quarter trillion cubic feet of gas and thirty million barrels of liquids Experienced operator (AYCO) - successful track record FAR the biggest player (34%) and may recover ear
Slide 42: Slide 42
Slide 43: Slide 43