Far Ltd · ASX:FAR
Far — First Australian Resources — Mining 2009 Conference Brisbane
16 slides from Far's conference presentation, Oct 29, 2009
Slide 1: Hunting Elephants in West Africa
For personal use only First Australian Resources Ltd “Hunting Elephants in West Africa” Mining 2009 Conference Brisbane October 2009 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 Capital Structure (30 Sept 2009) For personal use only • Strong balance sheet and Shareholder Shares on issue 658,232,784 base > 5,500 Share price $0.044 Market capitalisation $28,962,242 • Underpins world class Project offshore Cash on hand* $12,570,000 Convertible Notes $2,971,165
Slide 4: West Africa
For personal use only West Africa 4
Slide 5: Do Senegal Waters Conceal Elephants?
Do Senegal Waters Conceal Elepnants’ explore with www.far.com.au PiRAST AUSTRALIA RESGURGES LTD = : 2 = PAS courtesy wren. Petroteum Meaganire. met Se 29 B05 =33
Slide 6: For personal use only
For personal use only 6
Slide 7: Senegal 3D Proves-up Giant Prospects
Senegal 3D Proves-up Giant Prospects • Acquired 2050 km2 3D seismic at a cost of US$14 million in 2007 For personal use only • 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 2009 • She
Slide 8: CSEM Summary
CSEM Summary For personal use only Shell report concludes that not only does the technique have no bearing on other prospects in the Licence Area but importantly does not rule out the possibility of finding hydrocarbons. 8
Slide 9: West African Positives
WEST AFRICAN POSITIVES • Large equity (90%) / acreage (7,490 sq km) / operatorship available For personal use only • Over US$21m spent on 3D seismic and CSEM • Contract Extension has NOC support • Drill ready prospects / different play types • Big neighbours in Edison and Petrobras • FAR has been in
Slide 10: Offshore Senegal, West Africa
Offshore Senegal, West Africa For personal use only • FAR (90%) Operator - only ASX entry in this world class play - Petrosen (NOC) (10%) • Currently in 2nd phase of license to 22 November 2009 • The Sangomar-Rufisque offshore licence (3 concessions) covers an area of 7,490 sq km over the shelf, slo
Slide 11: Senegal Targets
For personal use only Senegal Targets 11
Slide 12: For personal use only
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Slide 13: China
For personal use only China 13
Slide 14: Offshore China Block 22/12 Sold
Offshore China Block 22/12 Sold For personal use only FAR 5%* sold to Korean Group in April 2009 for US$ 8million payable: •US$2 million received •US$3 million upon approval of an Oilfield Development Program (“ODP”) or if commercial development of the project proceeds •US$3 million once the project
Slide 15: Summary
For personal use only Summary 15
Slide 16: Summary
Summary For personal use only • FAR has a 90% interest in 3 concessions offshore Senegal: • 2,050 sq km of 3D processed data • mapped multiple prospects including: • 3D defined Aptian shelf edge prospect, mean potential exceeding 1 billion barrels of oil in place; and • Fan systems such as 3D mapped
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