FAR Limited spuds Samo-1 exploration well, offshore The Gambia

10/26/2018

MELBOURNE -- FAR Limited has advised that drilling has commenced on the Samo-1 exploration well in block A2, offshore The Gambia. The Stena Drillmax arrived on site on Sunday, Oct. 21, and after standard pre-drill operations, the well was successfully spudded.

The Samo-1 well will be drilled in 1,000 m of water depth to a planned depth of approximately 3,100 m.

The Samo Prospect has two key reservoir intervals and is assessed to contain a combined prospective resource of 825 MMbbl of oil* (recoverable, gross, best estimate, unrisked - refer ASX announcement of Nov. 21, 2017).

Drilling will be followed by wireline logging. Good quality reservoirs have been interpreted from 3D seismic data at both levels at the proposed Samo-1 well location and the well is being drilled near the crest of the structure.

FAR has a 40% interest in the A2 and A5 Blocks and is Operator.

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