On 25 June 2020 FAR confirmed that it is looking for a partner ahead of drilling the Bambo/Soloo prospects in Block A2 probably in 2021  FAR hosts a data room in London for the blocks A2 and A5 opportunity, deep waters of the MSGBC Basin. The data room will be open from 12 to 20 March 2020. For further information please call +61 3 9618 2550. FAR offers a 25% equity in the acreage in exchange for paying its share of the planned exploration well on the Bambo/Soloo prospects. The well was due to spud in the second half of 2020 but operations were postponed due to the COVID-19 pandemic.  As of November 2019, FAR was farming out a part of its stake in blocks A2 and A5, deep waters of the MSGBC Basin.   Interested parties can contact Peter Nicholls, Exploration Manager for FAR (p.nicholls@far.com.au).  On 24 October 2019, FAR updated on resources potential and drilling plans on its acreage.  The company has identified several prospects as listed below.            Gambia prospects   in MMb of oil         Â              Prospect name         Block         P50 resource             Soloo 410         A2         126             Soloo 440         A2         26             Soloo total         A2         152             Bambo S390         A2         454             Jobo S172         A2 & A5         280             Malo S186         A5         137             Malo S540         A5         219             Malo total         A5         356             Total all   prospects         Â          1242        Â   A 3D seismic survey was completed to cover prospects in Block A5 which were not yet fully covered. Following this and a full review of available prospects, a candidate was selected for drilling in 2020.  On 1 October 2019 FAR announced that it was awarded a new licence for blocks A2 and A5 with revised terms and ownership. FAR remains operator of the acreage and increases its interest (participating and paying) from 40 to 50%. Partner Petronas also increases int interest from 40 to 50%. Former partner Erin Energy is not present any-more.  The key terms of the new licenses are:   Three-year initial exploration period, commencing on 1 October 2019, plus two optional extension periods of two years each.  A commitment to drill one well in the first two years in either block and to acquire, process and interpret 450 sq km of 3D seismic in the first three years.  A signature bonus of USD 4.5 million was paid for the two licences.  The evaluation of the Samo 1 well led to the identification of additional target intervals and current work focuses on defining new targets.   Background information  In November 2018, FAR announced that the Samo 1 new-field wildcat, Block A2, found oil shows. The well failed to find commercial quantities of hydrocarbons. Interpretation of wireline logging indicated that the main target horizons are water-bearing. Oil shows were encountered at several levels indicating the presence of an active hydrocarbon system. The well also encountered excellent reservoir and seal facies indicating that key components for a successful trap are present. Further investigations showed, however, as FAR presented in early March 2019, that there was a seal breach in the Samo structure. Samo was also deep to prognosis with the result that the trap is separated from the SNE oil field. Samo 1, which reached a TD of 3,240 m was plugged and abandoned as soon as logging operations were completed.   The well had two main targets in the Albian sands interval. The upper reservoir section which contains liquid-rich gas at the SNE field and the lower reservoir section which is oil bearing at SNE. Good quality reservoirs have been interpreted at both levels at the proposed Samo 1 well location and the well was drilled at the crest of the structure. It had a planned TD of around 3,100 m.  The Samo prospect is a structure on trend with the SNE field in neighboring block Sangomar Offshore Deep in Senegal. From seismic data it appears that Samo has the same reservoir levels in Albian sands which were oil bearing in SNE. Therefore, the chance of success assigned to Samo was quite high with 55%.
Gambia (Senegal (M.S.G.B.C.) B.) Block A2 op. by PETRONAS (40%), FAR (40%), OTHERS (7%), CAMAC INT (7%), ERIN EN (7%), On 25 June 2020 FAR confirmed that it is looking for a partner ahead of drilling the Bambo/Soloo prospects in Block A2 probably in 2021 FAR hosts a data room in London for the blocks A2 and A5 opportunity, deep waters of the MSGBC Basin. 