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.    A 3D seismic survey is planned to cover prospects in Block A5 which are not yet fully covered. Following this and a full review of available prospects, a candidate will be 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, Block A2