FAR expands acreage offshore Kenya

FAR Ltd. (ASX:FAR) is stepping up its involvement offshore Kenya.

FAR expands offshore Kenya permit
FAR expands offshore Kenya permit

Offshore staff

MELBOURNE, Australia – FAR Ltd. (ASX:FAR) is stepping up its involvement offshore Kenya.

The Kenyan government has confirmed a 60% expansion of FAR’s L6 exploration permit off the coast of Kenya. This additional area increases the total permit area to 5,010 sq km (1,934 sq mi).

From recently acquired processed 3D seismic data and earlier 2D seismic data, FAR has found a new Miocene carbonate reef play that extends into the new acreage, and estimates the total prospective resources on L6 to be 3,962 MMbbl of oil or in a gas only success case, 10,689 bcf (unrisked, best estimate, 100% basis).

3/27/13

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