FAR - FAR Limited

[bigdog]

Previous Close $0.135 and The trading halt can now be lifted after Capital Raising

FAR $0.125 $-0.010 -7.41% @ Mon 20 Oct 2014 10:03 AM

FAR $0.130 $-0.005 -3.70% @ Mon 20 Oct 2014 10:08 AM

ASX ANN
FAR 9:27 AM FAR strengthens cash position with $46.7m capital raising
http://www.asx.com.au/asxpdf/20141020/pdf/42t0cn6c3g6vgs.pdf

20 October 2014
FAR strengthens cash position with $46.7 million capital raising
FAR Ltd (ASX: FAR) has completed a placement to institutional and sophisticated investors to raise $46.7 million before expenses by issuing 424,961,685 shares.

• Oversubscribed placement to institutional and sophisticated investors
• Cash fund Senegal drilling, working capital and new ventures
• Cajun Express drill rig has mobilised to second well location, offshore Senegal

The capital raising follows the significant oil discovery in FAN-1, offshore Senegal with its partners Cairn Energy plc, ConocoPhillips and Petrosen.

The semi-submersible drilling unit "Cajun Express” used to drill the FAN-1 well has now mobilised to complete the second exploration well in the Senegalese drilling program, SNE-1.

Cath Norman FAR managing director said, “We won very strong support for this capital raising. Given the state of the market we are very pleased to have been oversubscribed with particularly strong support from Australian institutions and our existing shareholders.”

“The discovery of oil in FAN-1 and an extended period of unscheduled maintenance have resulted in an increase to the forecast cost of the Senegal drilling program that exceeds our funding cap for both wells. The additional funds raised will now allow us to complete this very exciting drilling program.”

“The discovery of oil in FAN-1 has gone some way to increasing the chance of success in the SNE-1 well so we eagerly await the results from this next well and hope to repeat the success of FAN-1. FAR also looks forward to advancing our other exploration ventures in Kenya, Guinea Bissau and Australia and embarking on new ventures.”

This capital raising leaves FAR with approximately A$85 million of cash and in a very strong position from which to complete our near term corporate objectives.”

The placement was arranged by Bell Potter Securities Limited as Sole Lead Manager.

The price per new share of 11 cents under the placement represents an 18.5% discount to the company’s latest market price on the ASX and a 10.3% discount to the 10 day volume weighted average price on the ASX.

Upon completion of the placement, the placement shares will represent approximately 13.6% of the enlarged share capital of the company, which will have 3,126,808,427 ordinary shares on issue. The placement shares, when issued, will rank equally in all respects with the existing ordinary shares. Application will be made to the ASX for the placement shares to be admitted to be quoted on the ASX. Settlement of the placement shares is expected to occur on Friday 24 October 2014 with normal trading to occur on Monday 27 October 2014.

The presentation used for capital raising purposes was the same as the October Investor Presentation released to the ASX on 14 October 2014.

This release is in relation to the matter referred to in the Company’s trading halt announcement of 17 October 2014. The trading halt can now be lifted.

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[bigdog]

There have unusual share price transactions with lots of non retail trades with a decline in the SP during the week!

http://files.the-group.net/library/cairnenergy/news_pdf/301014IMSFINAL.pdf

30 October 2014
CAIRN ENERGY PLC (“Cairn” or “Company” or “Group”)
Interim Management Statement

refer page 3:

Operations

Exploration - Atlantic Margin - North West Africa

Senegal
The recently completed basin opening FAN-1 well discovered oil offshore Senegal. Cairn has now re-entered the second well in the Senegal exploration programme, SNE-1, where the top hole had already been drilled. This second well targets the Shelf Edge Prospect which is a dual objective of stacked Cretaceous clastics and deeper karstified and fractured Lower Cretaceous shelf carbonates, in 1,100m water depth. The upper clastic objective is of similar age to oil bearing sands found in FAN-1. The two objectives in SNE-1 are estimated by Cairn to have a gross mean unrisked prospective resource of 182mmbbls and 256mmbbls respectively, and the well is anticipated to complete before the end of the year.

The first well FAN-1, drilled using the Cajun Express, discovered high quality, light oil in multiple stacked deepwater fans. Evaluation is now under way to calibrate the well with the existing 3D seismic in order to decide future activities and potential optimal follow up locations to determine the extent of the discovered resource and additional activity which is targeted for 2015 onwards.

Preliminary analysis indicates:

Ø 29m of net oil bearing reservoir in Cretaceous sandstones
Ø No water contact was encountered in a gross oil bearing interval of more than 500m
Ø Distinct oils types ranging from 28 ° API up to 41 ° API indicated so far from a number of oil samples recovered to surface
Ø Initial gross STOIIP estimates for the FAN-1 well range from P90: 250 mmbbls, P50: 950 mmbbls to P10: 2,500 mmbbls, broadly in line with pre-drill STOIIP estimates

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[bigdog]

FAR 9:33 AM Trading Halt
http://www.asx.com.au/asxpdf/20141107/pdf/42tkgpkkp0w295.pdf
The securities of FAR Limited (the “Company”) will be placed in Trading Halt Session State at the request of the Company, pending the release of an announcement by the Company..


Request for Trading Halt
FAR Ltd (ASX: FAR) requests a trading halt in its securities effective immediately pending an announcement in relation to an update on the Senegal SNE-1 well results:

In accordance with Listing Rule 17.1, FAR advises that it:
(a) is seeking the trading halt pending an announcement in relation to the Senegal SNE-1 well results;

(b) wishes the trading halt to last until the earlier of the time when the announcement is released or FAR Ltd requests the trading halt to cease, subject to the limit imposed by ASX Listing Rules and in any event no later than the commencement of trading on Tuesday, 11 November 2014; and

(c) is not aware of any reason why the trading halt should not be granted.

If you have any queries in relation to the above, please do not hesitate to contact me.

I hold and have tipped FAR

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[Purd2]

This thread is hilarious, I find it fun some of you guys are ridding this P&D and it takes me back to the 90s.

Solid companies do not and never will pay for stock promotions. This companies product is mainly their own stock, sure you can make money on it but at least know the game you are in.

Still learning the Aussie market but thanks for the laugh by trying to pump it and make it seem legitimate, you're awesome.

Are you still laughing? Alot of my friends are....all the way to the bank.

 

[bigdog]

News many FAR holders have been waiting for!!

The market liked the ANN!!

FAR $0.135 $+0.036 +36.36% @ Mon 10 Nov 2014 10:03 AM

FAR 9:29 AM Second signficant oil discovery offshore Senegal
http://www.asx.com.au/asxpdf/20141110/pdf/42tlp7z7551tg5.pdf

10 November 2014
Second significant oil discovery offshore Senegal
• Excellent quality reservoir sands with net oil pay of 36 metres
• 95 metre gross oil bearing column with a gas cap
• Oil of 32 ° API from samples of gas, oil and water recovered to surface
• Preliminary estimates of the contingent resource* range from P90: 150 million barrels, P50: 330 million barrels and P10: 670 million barrels (mmbbls)
• Preparing to drill ahead on SNE-1 well to the deeper Aptian carbonate target

FAR Ltd (ASX: FAR) has made a second oil discovery offshore Senegal in West Africa in the SNE-1 well.

The SNE-1 well has discovered a 95 metre gross oil bearing column with net oil pay zone thickness of 36 metres in Albian aged sandstones which display excellent reservoir potential. High quality 32 ° API oil has been recovered to the surface.

The SNE-1 well is located in 1,100 metres (m) water depth, approximately 100 kilometres offshore in the Sangomar block with a target total depth of ~3,000 m.

Notices of Discovery for the SNE-1 well and FAN-1 well have been issued to the Government of Senegal.

FAR managing director, Cath Norman, said,
“This is another very significant oil find for FAR and Senegal. Based on preliminary estimates it is highly likely to be a commercial discovery.”

“The SNE-1 discovery is a company making event for FAR following our earlier oil discovery in the FAN-1 well. The SNE-1 discovery has potential to lead to a large stand-alone development and is an important step forward in establishing an entirely new petroleum province which would be transformational for Senegal.”

“It is incredible that FAR has made two very important oil discoveries with its first two Senegal wells. We expect to resume drilling on the SNE-1 well shortly to evaluate the deeper Aptian carbonate objective.”

“The FAN-1 well intersected a significant gross 500m oil-bearing section which indicates the presence of a prolific oil generating province. The SNE-1 well proves hydrocarbons have migrated up onto the shelf area which bodes well for the extensive suite of prospects yet to be drilled in our Senegal blocks.”

“FAR looks forward to working with the Government of Senegal and our joint venture partners in finalising follow up appraisal and exploration drilling plans.“
Initial analysis of the SNE-1 well data indicates:
• 95m gross oil bearing column with a gas cap
• Excellent Albian reservoir sands with net oil pay of 36m
• High quality oil of 32 ° API from samples of gas, oil and water recovered to surface
• Operator’s preliminary estimates of the gross contingent resource* range from P90, 150 mmbbls, P50, 330 mmbbls and P10, 670 mmbbls (net to FAR; P90, 23 mmbbls, P50, 50 mmbbls, P10, 101 mmbbls)*.

Further evaluation of this Albian objective is continuing. The deeper target of karstified and fractured Lower Cretaceous (Aptian age) shelf carbonates is yet to be reached. A further announcement will be issued once operations are completed on SNE-1 anticipated in late November.

The first well FAN-1, drilled using the Cajun Express, discovered high quality, light oil in multiple stacked clastic reservoirs.

The results of the FAN-1 well and the final analysis from the SNE-1 will be used to decide optimal follow up drilling locations to determine the extent of discovered accumulations and to evaluate the wider potential identified within the Joint Venture’s Senegal blocks. This additional activity is targeted to start in 2015.

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[pixel]

By Request
Special delivery from a little cat to a Big Dog

Net Buying and Selling Brokers during the period 14 August to 14 November 2014.

 

[pixel]

Update for the month 13 Oct to 13 Nov

onliners bought



Multis sold

 

[bigdog]

Update for the month 13 Oct to 13 Nov

onliners bought

Multis sold

What is the difference between the two files?

1. onliners bought

2. Multis sold


Many thanks Pixel
John

 

[pixel]

What is the difference between the two files?

1. onliners bought

2. Multis sold


Many thanks Pixel
John

The sort order: first snapshot has been sorted by Net Value DEscending, second one same but AScending

 

[bigdog]

Not good news!!

http://www.cairnenergy.com/index.asp?pageid=27&newsid=465

Senegal drilling programme completed

19 November, 2014

Cairn and its Joint Venture (JV) partners have completed operations on the SNE-1 well in Senegal and plans are now underway to appraise the discovery next year.

Having discovered oil in the upper clastic target, no hydrocarbons were subsequently encountered in the deeper target of karstified and fractured Lower Cretaceous shelf carbonates. Following completion of logging operations the well will be plugged and abandoned.

The SNE-1 well located in 1,100 metres (m) water depth and approximately 100 kilometres (km) offshore in the Sangomar Offshore block was drilled to a total depth of ~3,000m.

Cairn has a 40% Working Interest (WI) in three blocks offshore Senegal (Sangomar Deep, Sangomar Offshore and Rufisque) ConocoPhillips has 35% WI, FAR Ltd 15% WI and Petrosen, the national oil company of Senegal 10%. The three blocks cover 7,490 km².

 

[vxleather]

Bigdog... really!!!

Have you forgotten about the last 2 (TWO) ann: Oil discovered in not one but 2 holes... If they found oil at the bottom that was just a extra... the money has been found, now we just need to hear the final results and the words (100% Commercial)

 

[bigdog]

Bigdog... really!!!

Have you forgotten about the last 2 (TWO) ann: Oil discovered in not one but 2 holes... If they found oil at the bottom that was just a extra... the money has been found, now we just need to hear the final results and the words (100% Commercial)

VX - yes I agree with your statement

 

[bigdog]

"Both the FAN-1 and SNE-1 wells have made discoveries, each of which has the potential to be a large, stand-alone commercial development."


FAR 9:05 AM Successful Senegal drilling program completed
http://www.asx.com.au/asxpdf/20141120/pdf/42tv8mhhbylz7r.pdf

20 November 2014
Successful Senegal drilling program completed
• Two significant oil discoveries in the drilling program
• Both wells declared oil discoveries
• Preparing to plug SNE-1 well prior to rig being released
• Following the significant oil discovery in shallower Albian objective of SNE-1, no hydrocarbons encountered in deeper carbonate target
• Planning for an appraisal program to evaluate the two discoveries is underway

FAR Ltd (ASX: FAR) and its Joint Venture (JV) partners have completed drilling operations on the SNE-1 well in Senegal and plans are now underway to appraise the discovery.

Having discovered oil in the upper Albian sandstone target, no hydrocarbons were subsequently encountered in the deeper target of karstified and fractured Lower Cretaceous shelf carbonates. Following completion of logging operations the well will be plugged and abandoned as planned.

FAR Managing Director, Cath Norman, said,

“We have now completed drilling in what has been a monumental drilling campaign for FAR. Both the FAN-1 and SNE-1 wells have made discoveries, each of which has the potential to be a large, stand-alone commercial development. These oil discoveries are an important step forward in establishing an entirely new petroleum province which will be transformational for Senegal.”

“The enormous success of the upper sandstone objective in the SNE-1 well is substantially in excess of our pre-drill volume expectations and has more than compensated for the lack of hydrocarbons in the lower, carbonate target. Further, the excellent reservoir properties in the Albian sandstones bode well for an appraisal program and progressing towards a commercial development project.”

“FAR looks forward to working with the Government of Senegal and our joint venture partners in finalising follow up appraisal and exploration drilling plans.“

The SNE-1 well located in 1,100 metres (m) water depth and approximately 100 kilometres (km) offshore in the Sangomar Offshore block was drilled to a total depth of ~3,000m.

The SNE-1 well has discovered a 95m gross oil bearing column with net oil pay zone thickness of 36m in Albian aged sandstones which display excellent reservoir potential. High quality 32o API oil has been recovered to the surface. Operator’s preliminary estimates of the contingent resources* range from P90: 150 million barrels (mmbbls), P50: 330mmbbls and P10: 670mmbbls.

This well followed the FAN-1 well which was also a discovery well, encountering a 500m gross oil interval with a net pay of 29m of oil. Oil samples ranged from 28o to 42o API were also recovered to surface.

About the drilling program in Senegal
The FAN-1 and SNE-1 wells are the first deep water (>1,000m) wells drilled in Senegalese waters and the first offshore wells to be drilled for over 20 years.

Both FAN-1 and SNE-1 have significant follow-up drilling potential in the event of a discovery. FAR’s three contiguous Senegalese blocks – Rufisque Offshore, Sangomar Offshore and Sangomar Offshore Profond – cover 7,490km².

From 2,050km² of modern 3D seismic data acquired in the blocks, FAR has mapped 11 potentially drillable prospects as well as numerous other leads, many supported by associated seismic amplitude responses in plays including the ‘fan’ and ‘shelf’.

In February 2013 FAR assessed its Senegal blocks to have prospective resources of 3.585 billion barrels of oil (538 million net to FAR)* (reference: ASX release 27/02/2013).

FAR retains a 15% working interest in the permits and Cairn Energy, ConocoPhillips and Petrosen (the Senegalese National Oil Company) hold 40%, 35% and 10% respectively. Petrosen’s interest is carried interest through this exploration phase.

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[Wysiwyg]

The always-on-time BD would have noted that FAR will be an addition to the S&P/ASX 300 as of 20th March? Apart from a multiplication of share price, FAR must have done something right to be rated by the agency.

 

[bigdog]

Great news for FAR holders

FAR to be included in ASX 300 effective after closing March 20 2015


http://www.theafricareport.com/West-Africa/senegal-cairn-increases-oil-exploration-budget.html

Senegal: Cairn increases oil exploration budget
By Karolin Schaps

Oil explorer Cairn Energy has bucked the industry trend by announcing an increase to its exploration budget for this year to drill more wells in Senegal where it made some promising discoveries last year.

Oil companies have slashed exploration budgets this year to focus on projects that offer more immediate returns as a steep fall in oil prices since mid-2014 has tightened profit margins.

We all recognise that (the Senegal) discoveries, in the longer term, are potentially transformational for Senegal as a country

Yet Cairn announced a $75 million increase to its 2015 exploration budget set at $185 million, $135 million of which will go to its West African projects.

"We all recognise that (the Senegal) discoveries, in the longer term, are potentially transformational for Senegal as a country, as well as for Cairn," said Chief Executive Simon Thomson in a statement.

The company said it planned to drill at least three more wells offshore Senegal this year.

"The key value driver in 2015 will be the $95 million to be spent on a 3-well follow-up campaign offshore Senegal to begin in 2015," said analysts at Jefferies who rate Cairn a "buy".

The company, which currently has no revenue as it focuses purely on exploration, managed to reduce losses after tax in 2014 to $381 million from a loss of $556 million a year earlier.

Cairn said its net cash balance stood at $869 million at the end of 2014, putting it in a solid financial position ahead of expected first oil sales from its Kraken and Catcher North Sea projects in 2017.

Cairn has been unable to sell a 10 percent share it holds in Cairn India which was worth around $703 million at the end of last year.


CNE website
Atlantic Margin - Senegal

FAN-1 discovered high quality, light oil in multiple stacked deepwater fans, SNE-1 discovered high quality oil in the upper clastic target of the Shelf Edge prospect; Senegal evaluation plan to be submitted by Joint Venture (JV), Cairn Operator 40% Working Interest (WI), Q2 2015

Preliminary estimates of the gross Contingent Resource for SNE-1: P50, 330 mmbbls recoverable. Initial gross STOIIP estimates for the FAN-1 well: P50, 950 mmbbls. Resource estimates confirmed by ERC Equipoise Ltd audit

Based on early evaluation, a programme of three firm and three optional exploration and appraisal wells is envisaged to begin in 2015

Capital Markets Day on Senegal on 11 May 2015

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[bigdog]

ASX issued after todays close!!
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01624247
FAR 4:58 PM Senegal project update released by Cairn Energy


Cairn Share Price @ 10:23:02 today 190.50 pence Change: +3.10 (+1.65%)

http://files.the-group.net/library/cairnenergy/news_pdf/110515CapitalMarketsDayfinal.pdf

Cairn Announcement
11 May 2015
CAIRN ENERGY PLC (“Cairn” or “the Company”)
Cairn Capital Markets Day to outline evaluation plan submitted to Government of Senegal

Cairn and its joint venture partners have submitted a three year evaluation work plan to the Government of Senegal including an initial programme of three firm and three optional exploration and appraisal wells, with drilling starting in Q4 2015 in Cairn’s new basin play offshore Senegal focused on the acreage around the SNE-1 discovery well. Cairn estimates that the existing two discoveries and the currently identified prospects and leads have an estimated mean risked resource base of more than a billion barrels.

The Ocean Rig Athena, a 7th generation dual activity drillship has been selected for the drilling programme. The rig is currently contracted to ConocoPhillips in Angola. Cairn is in the final stages of working with its joint venture partners to finalise the rig contract and associated support services, which are being tendered to secure current market pricing.

The firm three well programme is currently planned to include two appraisal wells of the SNE-1 discovery which will core and test the reservoir, as well as one shelf exploration well. There will also be a 2,000km² 3D seismic data acquisition campaign over the Sangomar and Rufisque blocks to help fully map the prospectivity of the contract area.

A work programme and budget for the three optional wells will be presented to joint venture partners in Q3 2015. Targets for these wells will be drawn from a combination of further evaluation of the SNE-1 discovery, additional exploration in the shelf region, and exploration in the acreage around FAN-1. Drilling plans for these wells will be subject to ongoing FAN studies and the results of the first three firm wells.

Cairn believes there is substantial prospectivity across all three of its blocks and to date at least five prospects and eighteen leads have been identified and continue to be matured to drillable status.
Cairn is hosting a Capital Markets Day presentation on its operations in Senegal today in London for sell-side analysts and institutional shareholders.

Simon Thomson, Chief Executive of Cairn Energy PLC said:
“Cairn made two significant discoveries offshore Senegal in 2014 proving a hydrocarbon system in a new and emerging Atlantic Margin Basin. We are excited about the exploration and appraisal opportunity of this world class asset. We have now submitted a three year evaluation work plan to the Government of Senegal which is designed to lay the foundation for a long term multi-field, multi phase exploitation plan.
Our focus will be to add value in Senegal within a balanced, well funded company. We are well placed to take advantage of this exciting opportunity as we build on the success of last year.”

The Production Sharing Contract in place with the Government of Senegal covers an area of ~7000km² and consists of three blocks in Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore. The JV consists of Cairn as Operator (40% Working interest (WI)), ConocoPhillips (35% WI), FAR (15% WI) and Petrosen (10% WI).

Cairn Energy PLC (”Cairn”) is one of Europe's leading independent oil and gas exploration and development companies and is listed on the London Stock Exchange. Cairn has discovered and developed oil and gas reserves in a variety of locations around the world.

Cairn’s business operations are now focused on frontier exploration acreage in North West Europe, North West Africa, North Atlantic and Mediterranean, underpinned by interests in development assets in the North Sea. Cairn has its headquarters in Edinburgh, Scotland supported by operational offices in London, Norway and Senegal.

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[bigdog]

The market did not like yesterdays ASX Announcement re Senegal project update released by Cairn Energy

FAR $0.098 $-0.007 -6.67% @ Tue 12 May 2015 10:45 AM

 

[bigdog]

The share price had been very disappointing for paste few months - refer chart
-- hoping for better news with new wells to be drilled by Cairn Energy commencing shortly

Week Ahead: Cairn Energy second half could be transformational

06:29 16 Aug 2015
Deutsche Bank said the timing and drilling locations for three wells in Senegal could be unveiled. While they are in deep waters off the coast of west Africa, they aren’t technically challenging.

Cairn energy is in the spotlight...

Deutsche Bank previewed next Tuesday’s interims from Cairn Energy (LON:CNE) – though the numbers are likely to play second-fiddle to an update on its exploration plans.

As Deutsche points out, the second-half-weighted programme could be transformational.

It said the timing and drilling locations for three wells in Senegal could be unveiled. While they are in deep waters off the coast of west Africa, they aren’t technically challenging, the broker says.

In fact each could be drilled in as little as 40 days. The work will help give a more accurate resource estimate. Currently, experts say the discovery could contain anywhere from 155-670mln barrels of oil.

Deutsche is also expecting a little more ‘visibility’ on the £1bn (US$1.6bn) tax dispute with Indian authorities that continues to rumble on in the background.

Financially, the bank’s analysts reckons Cairn has been in cash preservation mode, and estimates it has around £750mln on the balance sheet – the equivalent to half its current market capitalisation.

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[bigdog]

http://www.bbc.com/news/uk-scotland-scotland-business-33973913

Cairn Energy cleared to start Senegal drilling operations

18 August 2015
From the section Scotland business


Oil and gas explorer Cairn Energy has been given the green light to press ahead with a major drilling programme off Senegal in West Africa.

The company said it had been cleared by government officials in Senegal to launch an evaluation plan.

Cairn, which made two discoveries in the area last year, estimated fields there could contain more than a billion barrels of oil.

Its evaluation plan will start shortly with a 3D seismic survey.

Later this year it aims to launch a multi-well exploration and appraisal programme.

Edinburgh-based Cairn has a 40% interest in three blocks offshore Senegal (Sangomar Deep, Sangomar Offshore, Rufisque Offshore).

Its partners include ConocoPhillips (35%) and FAR Ltd (15%), with Petrosen, the Senegal National Oil Company, retaining a 10% interest in the exploration phase.

Tax row

In its latest half-yearly report, Cairn also said that it had started international arbitration proceedings with the government of India over a tax row.

Cairn has been prevented by Indian authorities from accessing the value of its 10% residual shareholding in Cairn India Limited (CIL).

In March, the company received a tax bill for $1.6bn plus interest and penalties, covering the tax year 2006-07, when it was preparing to float Cairn India on the Mumbai stock exchange.

Cairn has contested the bill and plans to seek restitution for losses resulting from the falling value of its stake in CIL.

Due to the lower oil price, its value has dropped from $1bn in December 2013 to $526m, as at 30 June this year.

The lower valuation saw Cairn book a $177.1m impairment loss in its first half, as it reported a post-tax loss of $230m - up from $62m a year ago.

The company generates no revenue because its focus is exploration work.

However, at the end of the first half, Cairn reported a cash balance of $725m.

Cairn's share price was down by about 5% on Tuesday morning.

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[bigdog]

Senegal Drilling Video

In this video update FAR Limited Managing Director, Catherine Norman, explains the company’s upcoming appraisal/exploration drilling program in its offshore Senegal permits.

FAR and its joint venture partners in Senegal is expecting to start appraisal drilling on the world class SNE discovery in the coming weeks. The three wells in the firm drilling program will be drilled using the ConocoPhillips contracted drillship Ocean Rig Athena.

Two wells will be drilled to appraise the SNE field and are aimed at proving the threshold economic field size which the Operator announced is >= 200 mmbbls for a foundation project.

This video can be viewed on the company’s website

Published on Oct 7, 2015
FAR Ltd to begin drilling offshore Senegal.
https://youtu.be/U7QwQsdBN3I?list=PL1hLTMLSBRaIrrT2ilkCUpc6oPIHlUox4

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