Far Limited (FARYF)

[Orson James]

Link to FAR Ltd. latest financial reports below.

http://www.far.com.au/announcements-reports/

FAR’s flagship projects are positioned in East and West Africa, with assets in Kenya, Senegal, Guinea Bissau, and the AGC. FAR’s large African footprint, incorporating nine exploration blocks with a combined gross area of 31,400km2, leaves the Company highly leveraged to exploration success in frontiers that are attracting interest from major global players.

Recent internal technical assessments concluded that, on an un-risked, best-estimate basis, approximately seven billion barrels of hydrocarbon resources (5.4 billion barrels attributable to FAR) could be contained within just two of FAR’s offshore African oil exploration permits.

FAR’s recent acquisition of two blocks in Kenya, L6 and L9, has expanded the Company’s African presence. Recent discoveries offshore East Africa have prompted much excitement and activity in this relatively unexplored frontier. With large equity positions and the strong farm-out potential of these two blocks, FAR is well positioned in this fast emerging oil and gas margin.

According to US Geological Survey estimates, the geology that stretches from Mauritania to northern Namibia in West Africa may hold 71.7 billion barrels of undiscovered oil. Currently, FAR has seven blocks located within this region.

FAR’s core West African program is in Senegal where it operates three deepwater blocks and has committed to drill one well confirmed by Presidential Decree. These offshore concessions offer potential for world class oil discoveries.

FAR’s advanced exploration interests in Guinea-Bissau, a nation which lies immediately south of Senegal, presently extend to three promising offshore blocks wherein two wells are likely to be drilled, including a follow-up to the Sinapa oil discovery.

In the AGC Profond, FAR’s activities have focussed on preparing a full technical evaluation of the block’s prospectivity by integrating the results of the region’s first ever ultra-deep water well that was drilled in 2011.

FAR continues to evaluate African offshore opportunities and aims to build on its established standing in the region.

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http://www.far.com.au/announcements-reports/