Far Ltd · ASX:FAR
Far — Resources Rising Stars Conference 2014
23 slides from Far's conference presentation, Oct 1, 2014
Slide 1: FAR: An unfolding African success story
FAR: An unfolding African success story For personal use only Resources Rising Stars Conference Gold Coast, 2014
Slide 2: Why invest in FAR?
Why invest in FAR? • High impact exploration in Africa For personal use only • 5 wells in 3 countries in next 15 months • Farmed out 3 wells : gross farmout value $240M • Global farmin partners ConocoPhillips and Cairn Energy • Currently drilling first of two back to back wells offshore Senegal with
Slide 3: Corporate snapshot
Corporate snapshot For personal use only Capital Structure ASX Ticker FAR Shares on issue 2,699,846,742 Share price* A$0.084 Market capitalisation* A$227M Cash* A$39M * As at 28 September 2014, Cash position unaudited
Slide 4: Board with significant experience
Board with significant experience 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. 38 years indu
Slide 5: Exposure to world class acreage
Exposure to world class acreage • 8 exploration licenses in 3 West and East African countries For personal use only • 2 wells with Cairn and ConocoPhillips offshore Senegal commenced April 2014 Senegal Kenya Unexplored frontier Exciting frontier Billion barrel potential Large equity positions Multip
Slide 6: FAR's prospects in offshore Senegal
FAR’s prospects in offshore Senegal For personal use only Strong acreage position
Slide 7: Senegal
Senegal • Stable democracy : 196 For personal use only years • Peaceful country • Capital Dakar • Population ~14M • FAR in Senegal since 2008 • FAR enjoys good standing with the Government, Petrosen and other stakeholders in Senegal • FAR was operator with 90% equity until August 2013 • President is
Slide 8: Senegal
Senegal For personal use only • 7,000km2 of acreage offshore RUFISQUE, SANGOMAR & SANGOMAR DEEP OFFSHORE 16.7% paying interest, 15% beneficial interest • Currently drilling FAN-1 : first of 2 carried Operator: Cairn Energy PLC wells • Oil recovered in secondary target, drilling on through primary ta
Slide 9: Senegal: Prospects and Leads summary
Senegal: Prospects and Leads summary • Petroleum system established – Rufisque For personal use only Dome and oil in FAN-1 • Drilling deepwater fan (FAN-1) and shelf edge (SNE-1) • Pre-drill estimates: • 550 million barrels* in shelf well (SNE-1) • 900 million barrels* in fan well (FAN-1) • 3.5 bill
Slide 10: Senegal: Drilling progress
Senegal: Drilling progress SNE-1 For personal use only Drilled to date FAN-1 1150m WD 1437m WD ~3500m TD Yet to drill Oil Migration ~4900m TD Oil Traps Buried Hills Play Albian Clastic Play Aptian Carbonate Play Campanian-Maastrichtian Fan Play Santonian Fan Play Source kitchen West East 10
Slide 11: Senegal: Drilling underway with some early encouragement
Senegal For personal use only Drilling underway with some early encouragement • Operator running “tight hole” • Oil recovered from interim logging program in FAN-1, currently drilling on to TD • Encouraging start to the program – derisks deeper drilling and SNE-1 well • Cajun Express 5th generation
Slide 12: FAR's prospects in East Africa
FAR’s prospects in East Africa For personal use only Large equity in Kenya’s fast emerging Lamu Basin The next big thing for FAR
Slide 13: Kenya
Kenya For personal use only • Large acreage position in Lamu BLOCK L6 BOCK L9 60% interest offshore 30% interest Basin 24% interest onshore Operator: FAR Limited Operator: Ophir Energy PLC • Interest in two exploration blocks • Great neighbours in BG, Anadarko, Total, ENI… • Acreage tightly held • F
Slide 14: Kenya
Kenya • 3 main plays emerging BLOCK L6 BOCK L9 For personal use only 60% interest offshore 30% interest 24% interest onshore Operator: Ophir Energy PLC • Proven oil at both end of reef play Operator: FAR Limited • Drill ready reef prospects defined on 3D seismic • 1,000m of oil shows through the ree
Slide 15: Kenya Block L6: Prospects and leads
Kenya Block L6 : Prospects and leads Onshore For personal use only • Farmout deal concluded with Milio International • Fully carried on 2D seismic and well Offshore • Drill ready prospects defined on 3D seismic • Large exposure to Miocene reef play drilled by BG : Sunbird-1 • 3.7 billion barrel oil
Slide 16: Kenya Block L6: Maridadi well result
Kenya Block L6 : Maridadi well result Maridadi-1B For personal use only 16
Slide 17: Kenya Block L6: Maridadi well result
Kenya Block L6 : Maridadi well result Maridadi-1B For personal use only Seal Reservoir Oil Shows 17
Slide 18: Kenya Block L6: Reef prospects
Kenya Block L6 : Reef prospects SW For personal use only NE Kifaru West Kifaru Miocene reef play prospective resources* Kifaru prospect 178 mmbbls Kifaru West prospect 130 mmbbls Other total 1,249 mmbbls Total 1,557 mmbbls Total net to FAR 934.2 mmbbls *From FAR internal prospective resources 27 Feb
Slide 19: Community projects
Community projects For personal use only • Flood relief program in Senegal • Mosquito nets in Senegal • Donation of soccer balls in Guinea Bissau • Community consultation and education in all our areas of activity where appropriate
Slide 20: FAR story unfolding
FAR story unfolding For personal use only • 3 carried wells totaling approximately $240M • Encouraging start to Senegal drilling program : Oil recovered from secondary target • Drilling continues in Senegal testing 1.5 billion barrels oil • Approximately $39M cash • 5 wells to be drilled in next 15
Slide 21: The year ahead
The year ahead 2014 2015 For personal use only SENEGAL Sangomar Profond Drilling FAN-1 Drilling SNE-1 Evaluation of drilling July Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Farmout Drill planning Drilling L6 Offshore July Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug S
Slide 22: Disclaimer
Disclaimer For personal use only • This presentation has been prepared by FAR Limited (‘FAR’). It should not be • This presentation does not purport to be all inclusive or to contain all considered as an offer or invitation to subscribe for or purchase any shares in information which you may require
Slide 23: Contact us
Contact us For personal use only Level 17, 530 Collins Street Melbourne VIC 3000 Australia T: +61 3 9618 2550 www.far.com.au 23