Far Ltd · ASX:FAR
Far — Investor Presentation (February 2013)
20 slides from Far's investor presentation, Feb 14, 2013
Slide 1: Investor Presentation Feb 2013
For personal use only INVESTOR PRESENTATION Feb 2013
Slide 2: Disclaimer
Disclaimer For personal use only • This presentation has been prepared by FAR Limited (“FAR” or the “Company”). It should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those se
Slide 3: Our company
Our company For personal use only • Australian junior oil and gas explorer Capital Structure • Listed on Australian Securities exchange ASX: FAR Shares on issue 2,499,846,742 • Diversified African asset base (9 licences in 3 countries) Share price (at 11 Feb 2013) A$0.038 • Exposure to both transfor
Slide 4: FAR Board
FAR Board 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. 35 years industry experience in the r
Slide 5: Africa: West and East emerging oil and gas provinces
Africa : West and East emerging oil and gas provinces For personal use only • 9 exploration licenses in 3 countries • Drill Kenya L6, Senegal end 2013 • Combined 31,400km2 area • Data acquisition phase complete, well obligations only • Combined best estimate unrisked prospective resources 2,425MMboe
Slide 6: Offshore East Africa
Offshore East Africa For personal use only • FAR is holder of 2 licences in the heart of the Lamu Basin • Estimated 100TCF recoverable gas has been discovered in the last two years in Rovuma Basin to south • Anadarko drilled first offshore exploration well offshore Mozambique March 2010 • 16 offshor
Slide 7: Kenya, East Africa
Kenya, East Africa For personal use only Block L6 • FAR operator with 60% interest • First well to be drilled Q4 2013 • 3D seismic completed and final products due for delivery this month • Great neighbours! Block L9 • FAR 30% interest in block • Operator Ophir Energy • Ophir and FAR farm down will
Slide 8: Kenya: Prospects and Leads
Kenya : Prospects and Leads For personal use only Kudu Prospect Unrisked prospective resources (oil only MMboe)2 Updip Kifaru1 344 Kipini Kifaru W1 325 Chui Block L6 Tembo1 1,491 Chui W Kudu 86 Nyati W Nyati Chui + Chui W 208 Nyati 91 Kifaru W Kifaru Kiboko Updip Kipini 25 Tembo Nyati W 205 L6 3D su
Slide 9: Cross section through Lamu Basin
Cross section through Lamu Basin L6 L8 L9 For personal use only Tertiary 1000m Kifaru Shallow Mbawa L9 Prospect water Tembo Reefs sediment 2000m s Turbidites Deltaics 3000m Deep water sediments S 1000m Cretaceous S S 9
Slide 10: 3D Prospects
3D Prospects For personal use only • Fast track 3D seismic data received in late October 2012 Nyati • Three prospects mapped on the fast track 3D seismic: • Tembo – Tilted fault structural trap with Eocene deltaic sands reservoir Nyati West • Kifaru and Kifaru West – Miocene carbonate build-ups. Pre
Slide 11: 3D Prospects
3D Prospects For personal use only • Flat events in Tembo could be hydrocarbon contacts • Cross cut by events parallel to the bedding 11
Slide 12: Kenya: Community relations
Kenya : Community relations For personal use only Locating the Kipini-1 wellhead Mark Jenkins addressing a local community along the coast Community awareness program, coast of Kenya Collecting data for the Environmental Impact Assessment 12
Slide 13: Centre of activity in West Africa
Centre of activity in West Africa For personal use only • FAR Limited has 7 blocks in West Africa, offshore Senegal, Guinea Bissau and the AGC Profond • Discovery of Jubilee field offshore Ghana by Tullow spearheaded a wave of activity from Ghana to Senegal • Focus of activity in and around FAR acre
Slide 14: Large footprint in the MSGB basin
Large footprint in the MSGB basin For personal use only FAR acreage Salt basin SENEGAL Volcanics Carbonate shelf Leads and prospects by play type GAMBIA Basin floor SENEGAL Carbonate shelf “Buried Hill” Base of slope GUINEA BISSAU Salt flank Faulted anticline 14
Slide 15: Senegal, West Africa
Senegal, West Africa For personal use only FAR in Senegal • FAR 100% • Total exploration spend on block US$21M • Large acreage position 7,490km2 in the Rufisque, Sangomar and Sangomar Deep blocks • Drilling before Feb 2014 • African Petroleum to drill 500mmbbl Gambian Alhamdillulah Prospect overlapp
Slide 16: Senegal: Prospects and Leads
Senegal: Prospects and Leads For personal use only Play Sum of mean unrisked recoverable MMstb 1 Buried Hill play 831 Early Albian 215 Aptian shelf margin 824 Base of slope 188 Late Cretaceous slope fans 1,244 Salt cored structure 106 Total 3,500 1 From FAR modelling on 3D seismic data, subsequent t
Slide 17: Senegal: Prospects and leads
Senegal: Prospects and leads For personal use only Albion “Buried Hills” Play (unrisked prospective resources 831MMstb) Amplitude Extraction Senonian unconformity surface Inline 1356 Alhamdilullah Prospect (unrisked prospective resources 500MMstb) Structural Spill Possible Fan 2 km 17
Slide 18: AGC and Guinea Bissau, West Africa
AGC and Guinea Bissau, West Africa For personal use only FAR in Guinea Bissau • 21.43% paying interest,15% beneficial interest • Operated by Svenska Petroleum Exploration AB SENEGAL • Block 2 contains the Sinapa oil discovery (Premier 2004), P50 111mmbbls OIP to be appraised by JV in late 2013 • Sha
Slide 19: Timetable of events
Timetable of events For personal use only 2013 2014 ANARDARKO & AFREN BG KENYA Data Processing & Farmout Drill Planning Drilling L6 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec KENYA Data Processing & Farmout G&G Drill Planning Drilling L9 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec AGC G&G 3
Slide 20: FAR's African story is ready to unfold
FAR’s African story is ready to unfold For personal use only • Drilling mid 2013 offshore Kenya following Anadarko, BG and Afren • Drilling West Africa in 2013 following African Petroleum drilling • Large equity positions and hence highly leveraged to success • Experienced Board and management with