Far Ltd · ASX:FAR
Far — First Australian Resources — Investor Presentation (April 2010)
32 slides from Far's investor presentation, Apr 19, 2010
Slide 1: First Australian Resources Ltd – Playing the Margin
For personal use only First Fi t Australian A t li Resources R Ltd “Playing the Margin” Investor Presentation 19 April 2010 1
Slide 2: Disclaimer
DISCLAIMER For personal use only 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 Limited. ((“FAR”) FAR ). This present
Slide 3: Overview of FAR
Overview of FAR For personal use only Capital Structure (19 April 2010) • FAR progresses new farmout round on Shares on issue 658,232,784 world class offshore Senegal Project Share price $0.060 Market capitalisation $39,493,967 • Senegal has multiple prospects ranging Cash on hand* $11,021,072 Conve
Slide 4: Oil Exploration Success Stories?
For personal use only Oil Exploration p Success Stories? 4
Slide 5: Case Study of a West African Success Story
Case Study of a West African Success Story For personal use only 5yrs 588% 1yr 167% In 2009, Tullow ll d ill d a totall off 15 exploration drilled l i and d appraisal i l wells, achieving an industry leading 87% success rate. Market cap p from 1 – 11 Billion Pounds in 5 y years Two Billion barrel pl
Slide 6: Oil pacesetters securing PSC's along the Atlantic Margin
Oil pacesetters securing PSC’s along the Atlantic Margin For personal use only Tullow Blocks FAR Blocks Well 2010 6
Slide 7: Case Study – Hardman Resources with Oil Price Overlay
Case Study – Hardman Resources with Oil Price Overlay Senegal gives FAR the opportunity to replicate the success of Hardman Resources For personal use only Hardman market cap $10 million in 1999, market bid of $1.5 billion by Tullow Oil Plc in 2006 (started with adjacent Mauritania Project) Feb 2006
Slide 8: West African shelf areas showing current production
For personal use only ? W. African shelf areas showing current production in purple color 8
Slide 9: In the News: ASX Blocks African Petroleum proposal
IN THE NEWS: For personal use only ASX Blocks African Petroleum proposal!! Circa $200million funds in place IHS Global, has determined two Liberian exploration blocks (7,200 sq km) have potential for combined un-risked total P50 recoverable prospective resources 1875 million barrels with a range of
Slide 10: Comparison: FAR v GFE
Comparison: FAR v GFE For personal use only 10
Slide 11: Recent Important Events (West Africa)
Recent Important Events (West Africa) For personal use only 1. Venus Discovery – Sierra Leone (Anadarko up $4 on announcement) 2. Jubilee (offshore Ghana) approaches 1.8 Billion b barrels l 3. Anardarko drills deepwater well in under 20 days 4. Ophir gets approval to drill deepwater well adjacentt t
Slide 12: Will ASX share prices respond to West African exploration?
Will ASX share prices respond to West African exploration? For personal use only ASX: RIA enters Ghana 12
Slide 13: Senegal
For personal use only Senegal 13
Slide 14: FAR's Senegal Positives
FAR’s Senegal Positives: For personal use only Maximum equity (90%) from which to deal Large acreage position (7,490 (7,490 sq km) Over US$21m in 3D seismic and CSEM in place Operatorship available PSC Extended to 23 Nov 2010 - commitments satisfied Drill ready prospects comprising different play ty
Slide 15: Offshore Senegal, West Africa
Offshore Senegal, West Africa For personal use only • FAR (90%) Operator - only ASX entry in this world class play - Petrosen (NOC) (10%) • Currently in 2nd phase of license extended to 22 November 2010 • The Sangomar-Rufisque g q offshore licence (3 ( concessions)) covers an area of 7,490 , sq q km
Slide 16: Senegal 3D Proves-up Massive Prospects
Senegal 3D Proves- Proves-up Massive Prospects For personal use only • Acquired 2050 km2 3D seismic at a cost of US$14 million in 2007 • 3D interpretation and Slope fan attribute work completed Q1 2008 • FAR moves to 90% and becomes Operator December 2008 • Shell funded CSEM program acquisition May
Slide 17: Senegal Targets
For personal use only Senegal Targets 18
Slide 18: Guinea Bissau
For personal use only 19 Guinea Bissau
Slide 19: Guinea Bissau licences – Sinapa and Esperanca
T 7? T ’ T T Wo 7we 16°W 15°W | se SENE| SINAPA equity paying | rm yO Svenska 55.0% 78.57% | FAR 15.0% 21.43% \ — Moonngens| Petroguin 30% 0% Cheval Marin ue } \ gi co JS ‘Vay GUINEA - BISSAU al oy M06 ~ , és + 12°N 2 a 1 Bissau ~~ e y ESPERANCA equity paying | Svenska 55.0% 78.57% | FAR 15.0% 21.43
Slide 20: Recent Acquisition and Processing 2D Geostreamer Seismic
Recent Acquisition and Processing 2D Geostreamer Seismic For personal use only Cabacera/Bichir Prospect Sardinha/Sabayon Prospect 2D Sinapa Si Existing Discovery 3D Outline Propose 600SqKm 3D 21 Outlin
Slide 21: Sinapa Discovery (P50 STOOIP 240mmbo)
Sinapa Discovery (P50 STOOIP 240mmbo) For personal use only Sinapa 2z Sinapa p 2 Salt Core Potential P t ti l Oil Column ca 800m Free Water Level 1Km 22 No
Slide 22: Sinapa Discovery Depth Structure on Top Albian Reservoir
Sinapa Discovery Depth Structure on Top Albian Reservoir (2009 Mapping) For personal use only Si Sinapa 2 Free Water Level SALT Outline of Existing 3D seismic survey, CORE Sinapa 2z currently undergoing reprocessing N 5 Km
Slide 23: Sinapa and Esperance Licenses Forward Project Timeline
Sinapa and Esperance Licenses Forward Project Timeline For personal use only • 3rd - 4th Q 2010 commence 3D seismic i i Sardinha, S di h Si Sinapa & Cabacera • Late 2010 Process and interpret 3D surveys. • 2011 Work towards drilling g locations on either Sinapa, p , Cabacera or Sardinha. • 1st-2nd Q
Slide 24: Sinapa – potential development
Sinapa – potential development For personal use only Consider Jack Up rig drilling with MOPU (Mobile Offshore Production Unit) in place Drilling Rig MOPU Benign seas 30m water depth 25
Slide 25: Operator: Svenska
Operator: Svenska For personal use only • The operator, Svenska Petroleum Exploration, is a private Swedish oil and gas company engaged in offshore exploration and production of oil and gas worldwide.. Currently, it has activities in Angola, worldwide th Ivory the I C Coast, t Nigeria, Ni i G i Guin
Slide 26: Sheikh Mohammed H. Al Amoudi
Sheikh Mohammed H. Al Amoudi For personal use only • Svenska is fully owned by Sheikh Mohammed H. Al Al--Amoudi • Sheikh Mohammed is currently 43rd richest person in the world • La Largest rgest foreign investor in Sweden, largest investor in Ethiopia • Holdings include Oil Refining (Sweden and Moro
Slide 27: Guinea Bissau
• Guinea Bissau For personal use only • The Republic of Guinea Bissau has a population of around 1.5 million and with its capital Bissau lies on the west coast of Africa between Guinea Conakry to the south and Senegal to the north north.. Independence from Portugal was gained in 1974 1974.. • Electi
Slide 28: China
For personal use only China 29
Slide 29: Offshore China Block 22/12 Sold
Offshore China Block 22/12 Sold For personal use only FAR 5%* sold to Korean Group in April 2009 for US$ 8million payable: US$2 million received •US$2 •US$3 million upon approval of an Oilfield Development Program (“ODP”) or if commercial development of the project proceeds •US$3 million once the pr
Slide 30: Summary
For personal use only Summary 31
Slide 31: Summary
Summary • FAR has a 90% interest in 3 concessions offshore Senegal: For personal use only • mapped multiple prospects including: • 3D defined Aptian shelf edge prospect, mean potential exceeding di 1 billion billi b barrels l off oil il in i place; l and d • Fan systems with mean potential exceeding
Slide 32: More info at www.far.com.au
For personal use only More info at www.far.com.au www far com au 33
First Australian Resources — Investor Presentation (April 2010) on 6ix