Brief: Far Ltd Updates On Bambo-1 Well

FAR

05/12/2021 22:52

Dec 6 (Reuters) - FAR Ltd  FAR.AX :
    * FAR LTD -  BAMBO-1 WELL UPDATE
    * FAR LTD -  ESTIMATES THAT COST TO COMPLETE WELL WILL
INCREASE
FROM A TOTAL OF US$51.4M TO US$61.27M
    * FAR LTD -  ADDITION OF SIDE-TRACK PROGRAM HAS EXTENDED
PERIOD OF
OPERATIONS WHICH IS NOW EXPECTED TO BE COMPLETED BY END OF DEC
2021
    * FAR LTD -  OIL INDICATIONS HAVE BEEN DETECTED IN ROCK
CUTTINGS
AND HYDROCARBONS HAVE BEEN INTERPRETED ACROSS SEVERAL INTERVALS
IN BAMBO-1 WELL
    * FAR LTD -  FORECASTS A CASH BALANCE OF US$37M AFTER
COMPLETION
OF WELL
    * FAR LTD -  PLANNING TO PLUG AND SIDE-TRACK BAMBO-1 WELL TO
CONTINUE DRILLING TO PLANNED TOTAL DEPTH

Further company coverage:  FAR.AX 

 (Reuters.briefs@thomsonreuters.com)