Slide 1: Investor Presentation March 2013
For personal use only INVESTOR PRESENTATION March 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 1 March 2013) A$0.046 • Exposure to both transfo
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 • Combined 31,400km2 area • Combined best estimate unrisked prospective resources 7,000 mmbbls* • 5 wells in next 18 months1 SENEGAL KENYA GUINEA-BISSAU 1Assuming current options are t
Slide 6: Offshore East Africa
Offshore East Africa • FAR is holder of 2 licences in the heart of the Lamu For personal use only Basin • Estimated 100TCF recoverable gas has been discovered in the last two years in Rovuma Basin to south • Anadarko drills first offshore exploration well offshore Mozambique March 2010 • 16 offshore
Slide 7: Kenya, East Africa
Kenya, East Africa For personal use only Kudu Block L6 Updip Kipini • FAR operator with 60% interest KENYA • 3.7 billion bbl oil potential in block (unrisked, best Chui W Chui estimate, prospective resources, 100% basis, oil Block L6 only) Nyati W • First well to be drilled late 2013/early 2014 Nyat
Slide 8: Kenya Block L6: Prospects and Leads
Kenya Block L6 : Prospects and Leads For personal use only Miocene Reefs Kudu Miocene fans Updip Prospect Play Oil (mmbbls)1 Gas (bcf)1 Kipini 3D seismic prospects Eocene clastics Kifaru Miocene reef 178 517 Kifaru West Miocene reef 130 388 Cretaceous clastics Tembo Eocene clastics 327 807 Chui 2D s
Slide 9: Kenya Block L6: Miocene reefs
Kenya Block L6 : Miocene reefs • Kifaru prospect For personal use only • 60-260m water • CoS 19% • 29 km2 • 178 mmbbls1 or 517 bcf1 • Kifaru West prospect • 60-260m water • CoS 18% • 24.5km2 • 130 mmbbls1 or 388bcf1 1 From FAR prospective resources 27 Feb 2013. Best estimate, unrisked prospective re
Slide 10: Kenya Block L6: Tembo structure
Kenya Block L6 : Tembo structure For personal use only Tembo prospect • 49 km2 Tembo flat events – possible DHI’s • 310-360m water • CoS 21% • 327 mmbbls1 or 807 bcf1 • Upside (high estimate) of 1,212 mmbbls1 or 2,907 bcf1 1 From FAR prospective resources 27 Feb 2013. Best estimate, unrisked prospec
Slide 11: Cross section through Lamu Basin
Cross section through Lamu Basin L6 L8 L9 For personal use only 1000m Kifaru Shallow water L9 Prospects sediments Tertiary Reefs Tembo 2000m Mbawa Turbidites 3000m Deep water sediments Cretaceous S 4000m Deltaics S 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: 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 15: Senegal: Prospects and Leads
Senegal: Prospects and Leads For personal use only Prospect Play Oil (mmbbls)1 Lufti Buried Hill 203 Sabar Buried Hill 304 Lamb-Ji Buried Hill 136 Ramatou Ramatou Buried Hill 58 Lupalupa Albian Shelf edge 154 Lamb-ji Boabab Aptian 491 Alhamdulillah North Salt anticline 252 Sth Canyon Slope Fans 439
Slide 16: Senegal: Prospects and leads
Senegal: Prospects and leads For personal use only Buried Hills Play (unrisked prospective resources 700 mmbbls) Amplitude extraction Senonian unconformity surface Inline 1356 Lupalupa shelf edge prospect (unrisked prospective resources 154 mmbbls) Amplitude extraction 16
Slide 17: Senegal: Prospects and leads
Senegal: Prospects and leads For personal use only Baobab shelf edge (unrisked prospective resources 491 mmbbls) Alhamdilullah Prospect (unrisked prospective resources 252 mmbbls) Structural Spill Possible Fan 2 km 17
Slide 18: Senegal: Prospects and leads
Senegal: Prospects and leads For personal use only Slope fans (unrisked prospective resources 1,355 mmbbls) 18
Slide 19: 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 20: Timetable of events
Timetable of events For personal use only ANARDARKO /AFREN BG/APACHE AFRICAN PETROLEUM This timetable is indicative and final timetable will be determined when government approvals, availability of rigs and seismic vessels are confirmed 20
Slide 21: FAR's African story is unfolding
FAR’s African story is unfolding For personal use only • Drilling early 2014 offshore Kenya following Anadarko, BG and Afren • Drilling West Africa end 2013 following African Petroleum drilling • Large equity positions and hence highly leveraged to success • Experienced Board and management with str