Oil samples recovered in FAN-1 exploration well offshore Senegal

FAR Ltd has recovered oil samples from the FAN-1 exploration well being drilled offshore Senegal by FAR and its joint venture partners Cairn Energy PLC (operator), ConocoPhillips, and Petrosen.

Offshore staff

MELBOURNE, AustraliaFAR Ltd (ASX: FAR) has recovered oil samples from the FAN-1 exploration well being drilled offshore Senegal by FAR and its joint venture partners Cairn Energy PLC (operator), ConocoPhillips, and Petrosen.

Elevated gas and fluorescence were encountered in a shallow secondary target, and the presence of oil was confirmed by an intermediate logging program. Oil samples from a thin sand were collected for further analysis. Circle says this well data confirms the existence of a working petroleum system.

The FAN-1 well has reached a depth of 4,402 m (14,442 ft), where intermediate casing has now been set. The well will be deepened to a planned TD of 5,000 m (16,404 ft).

Conclusive results for this well will not be available until drilling is completed and all of the well data is fully assessed. Cairn Energy anticipates that drilling of the FAN-1 well will be completed next month, after which time the rig will be moved to the SNE-1 well location, the second well of this two-well program offshore Senegal.

08/28/2014

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