Brief: FAR Ltd Completes Review Of Prospectivity Of A2, A5 Blocks Offshore Gambia

FAR

20/02/2022 22:30

Feb 21 (Reuters) - FAR Ltd  FAR.AX :
    * GAMBIA PROJECT UPDATE
    * FAR HAS COMPLETED A REVIEW OF PROSPECTIVITY OF A2 AND A5
BLOCKS
OFFSHORE GAMBIA
    * DRILLING AND LOGGING DATA OBTAINED ON MAIN WELL (BAMBO-1)
AND
SIDE-TRACK WELL (BAMBO-ST1) CONFIRMED PRESENCE OF A PROLIFIC OIL
SOURCE
    * DATA CONFIRMED OIL SHOWS ENCOUNTERED WHILST DRILLING WERE
PERSISTENT OVER SEVERAL HUNDRED METRES
    * FAR, AS OPERATOR OF JOINT VENTURE, IS REVISING WORK TO BE
UNDERTAKEN IN 2022 AND ACCORDINGLY, BUDGET FOR WORKS
    * FAR EXPECTS TO REDUCE JOINT VENTURE BUDGET BY 40% TO
US$5.7
MILLION FOR 2022 YEAR
    * PETRONAS ARE SUPPORTIVE OF REDUCING 2022 BUDGETED
EXPENDITURE

Source text for Eikon:  ID:nASX7SNgFp 
Further company coverage:  FAR.AX 

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