Re: FAR- Far limited
yeah, i am a holder and i noticed the asf forum had no thread on it, i figured with peter giving the presentation and the company a huge wrap the other day, that it deserved to be posted on the forum
i think if you research ophir it gives a massive breakdown of what kora is
http://ophir-energy.com/Default.asp...fault&master_id=129&parent_id=129&page_id=320
[SIZE=+0]In July 2010 Ophir signed a one well contract with A.P. Moller-Maersk A/S to use the newly built (June 2010) ultra deepwater semi Maersk Deliverer. This rig will be used in conjunction with other operators as part of a north-west African sequence to drill the ultra deepwater prospect Kora in the JDZ between Senegal and Guinea Bissau the AGC.
[/SIZE]
AGC (Sénégal/Guinéa Bissau Common Zone)
[SIZE=+0] [/SIZE][SIZE=+0]AGC is the ‘Agence de Gestion et de Coopération entre le Sénégal et la Guinée-Bissau’ which is a joint commission set up by the governments of Guinea-Bissau and Senegal to administer the maritime zone between the two countries. The AGC Profond block consists of the deepwater portions of two blocks previously known as Cheval Marin and Croix du Sud. The block covers an area of 9,838km² and is located in water depths ranging from approximately 50 to 3,500m. [/SIZE]
[SIZE=+0] [/SIZE][SIZE=+0][SIZE=+0]Interest[/SIZE][/SIZE]
[SIZE=+0] [/SIZE][SIZE=+0]The Group has an 83% beneficial interest and 82.955%paying interest in the block during exploration with the state owned entity Entreprise AGC holding a 12% beneficial interest and having a right to back-in for a further 5% beneficial interest following a declaration of commerciality;
Rocksource AGC (Profond) AS has earned a 5% interest by funding a Controlled Source Electro-Magnetic (CSEM) programme and their promoted contribution to the first well will allow them to increase this to 15%. A further 10% will be available should they elect to make a further promoted contribution to a second exploration well.[/SIZE]
[SIZE=+0] [/SIZE][SIZE=+0][SIZE=+0]Exploration and appraisal[/SIZE][/SIZE]
[SIZE=+0] [/SIZE][SIZE=+0]The first renewal period commenced on 19 September 2009, lasts for two years and carries a commitment of one exploration well to a minimum depth of 1,500m. A second renewal of a further two years is possible with a further commitment to drill another exploration well, also to a minimum depth of 1,500m. [/SIZE]
[SIZE=+0] [/SIZE][SIZE=+0]In late 2008, a CSEM survey was conducted. The results were encouraging and have high graded a number of prospects. The Joint Venture has decided to drill the Kora Prospect in the northern part of the AGC Profond area. The semi-submersible rig Maersk Deliverer has been contracted to drill the Kora prospect early in 2011. For further details please refer to
Maersk Deliverer Press Release.[/SIZE]
Licence Details:
Licence Name
AGC Profond
Basin
MSGBC Basin
Gross Area
9,838km²
Water Depths
50 to 3,500m
Licensees
Interest Ophir (Operator)
83% l'Entreprise AGC S.A. (Partner) (
Entreprise)
*12% Rocksource AGC (Profond) AS (JV Party)
**5%
*Entreprise have an option to increase their 12%. beneficial interest by a maximum of 5%.
**Rocksource AGC (Profond) AS have the ability to increase their equity to a maximum of 25% by partially funding the first two exploration wells on the Block.
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