Far Ltd · ASX:FAR
Far — Resources Rising Stars Conference 2014
19 slides from Far's conference presentation, Apr 29, 2014
Slide 1: FAR's African story is ready to unfold
FAR’s African story is ready to unfold For personal use only Resources Rising Stars Conference 29 April 2014 Cath Norman Managing Director FAR Limited ASX:FAR
Slide 2: Investment highlights
Investment highlights For personal use only • Board and management with significant E&P experience • West and East Africa exploration focus (9 licences) • 8.5+ billion barrel prospect inventory* • Funded for 3 wells with gross farmout value ~US$230M • Currently drilling the first of two wells testin
Slide 3: Corporate snapshot
Corporate snapshot For personal use only Capital Structure ASX Ticker FAR Shares on issue 2,499,846,742 Share price* A$0.044 Market capitalisation* A$110M Cash (31 March 2014) A$26.6M Board & management Nicholas Limb, Non-Executive Chairman Catherine Norman, Managing Director Ben Clube, Executive Di
Slide 4: Exposure to world class emerging O&G areas
Exposure to world class emerging O&G areas For personal use only • 9 exploration licenses in 3 West and East African countries, combined 31,400 km2 area • 2 wells with Cairn and ConocoPhillips offshore Senegal commenced April 2014 Senegal Kenya Unexplored frontier Exciting frontier Billion barrel po
Slide 5: FAR's prospects in offshore West Africa
FAR’s prospects in offshore West Africa For personal use only Strong acreage position in Senegal, Guinea Bissau & AGC Profond
Slide 6: Senegal
Senegal For personal use only • Funded through drilling of two wells RUFISQUE, SANGOMAR & SANGOMAR DEEP OFFSHORE 16.7% paying interest, 15% beneficial interest • Drilling commenced April 2014 Operator: Cairn Energy PLC • Partners are Cairn Energy (40%) and ConocoPhillips (35%) • Approx US$196M to be
Slide 7: Senegal: Prospects and Leads summary
Senegal: Prospects and Leads summary For personal use only • Petroleum system established – Rufisque Dome Sangomar prospects and leads • World class source rocks • Drilling shelf edge and deepwater fan • 550 million barrels* in shelf well (SNE-1) • 900 million barrels* in deepwater fan well (FAN-1)
Slide 8: Senegal: Planned FAN-1 well
Senegal: Planned FAN-1 well For personal use only North Fan prospect prospective resources* North Fan (H 82) 117 mmbbls North Fan (H 85) 199 mmbbls North Fan (H 88) 151 mmbbls North Fan (H 89) 165 mmbbls Total 632 mmbbls Total net to FAR 95 mmbbls West East Approximate North Fan Well location *From
Slide 9: Senegal
Senegal For personal use only Rig has been mobilised and has commenced drilling offshore Senegal • Testing approximately 1.5 billion barrels of prospective resources* • Significant follow-up potential on success *Unrisked best estimate, 100% basis as per FAR ASX release dated 27 February 2013 9
Slide 10: Guinea-Bissau and AGC
Guinea-Bissau and AGC For personal use only • One block in AGC, three blocks offshore BLOCKS 2, 4A & 5A AGC PROFOND Guinea-Bissau 15% interest 8.8% interest Operator: Svenska Petroleum Operator: Ophir Energy PLC • Large permit area > 15,000 km2 • Large upside exposure in Senegal success case • Prove
Slide 11: FAR's prospects in East Africa
FAR’s prospects in East Africa For personal use only Large equity in Kenya’s fast emerging oil and gas province
Slide 12: Kenya
Kenya For personal use only • Large acreage position in Lamu Basin BLOCK L6 BOCK L9 60% interest offshore 30% interest • Two exploration blocks 24% interest onshore Operator: Ophir Energy PLC Operator: FAR Limited • Great neighbours in BG, Anadarko, Total, ENI… • Acreage tightly held • BG discovered
Slide 13: Kenya
Kenya For personal use only • Drill ready prospects defined on 3D seismic • Fully carried through the acquisition of 1000kms 2D seismic and one onshore well in Block L6 by Milio International of Dubai (~US$30M program) • Actively farming down offshore well in Block L6 and L9 * Reference FAR ASX Dec
Slide 14: Kenya Block L6: Prospects and leads
Kenya Block L6 : Prospects and leads Onshore For personal use only Block 6 prospects & leads • Farmout deal concluded with Milio International • Fully carried on 2D seismic and well • Program to commence mid 2014 Offshore • Drillable prospects defined on 3D seismic • Identification of new Miocene re
Slide 15: Kenya: Community relations
Kenya: Community relations For personal use only Community awareness program, coast of Kenya Mark Jenkins addressing a local community along the coast Locating the Kipini-1 wellhead Collecting data for the Environmental Impact Assessment 15
Slide 16: A busy year ahead
A busy year ahead For personal use only 2014 2015 SENEGAL Drilling Drilling Drill Planning Evaluation of Drilling Sangomar Profond Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun BG/Anadarko KENYA Farmout Onshore Seismic Acquisition & Processing Evaluation of Drilling Drill P
Slide 17: FAR's African story is unfolding
FAR’s African story is unfolding For personal use only • Approximately $27M cash • 5 wells to be drilled in next 12 months… • 3 free carried wells in program totaling approximately $230M • Drilling program has commenced testing 1.5billion barrels of oil • Kenya story yet to unfold
Slide 18: 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 19: Contact us
Contact us For personal use only Cath Norman Managing Director Level 17, 530 Collins Street Melbourne VIC 3000 Australia T: +61 3 9618 2550 www.far.com.au 19