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Cairn Energy resumes drilling at the FAN-1 well offshore Senegal

MELBOURNE, Australia -- FAR Ltd (FAR) reported that drilling has resumed on the FAN-1 well offshore Senegal. FAR had previously stated a modification to the Senegal drilling programme in order to incorporate essential maintenance. FAR holds 15% and is in a Joint Venture with Cairn (40%) and Operator, ConocoPhillips (35%) and Petrosen (10%).

Drilling to date on FAN-1 has reached a depth of approximately 3,000 m.

The well is planned to be drilled to a depth of approximately 5,300 m.

The second Senegal well, SNE-1 is currently suspended and drilling will resume on completion of the FAN-1 well. SNE -1 has been drilled to a depth of approximately 1,900 m and will be drilled to a total depth of approximately 3,300 m.

FAR MD, Cath Norman, said, “These two wells offshore Senegal have the potential to radically alter the prevailing international view of the hydrocarbon potential of Senegal where no offshore wells have been drilled for more than 20 years. The two well program in the Atlantic margin is being closely monitored bymany international oil and gas players because of the large prospect sizes being drilled and the potential for numerous nearby follow up targets in the event of success.”

The FAN-1 well will test a stacked fan structure with the potential to contain approximately 900 MMbbl of oil with approximately 135 MMbbl net to FAR which owns a 15% working interest. FAN-1 will be followed immediately by the SNE-1 well to be drilled on the shelf targeting approximately 600 MMbbl of oil with approximately 75 MMbbl net to FAR.



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