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FAR Limited (ASX:FAR) - Managing Director, Catherine Norman
Managing Director, Catherine Norman
Source: Far Limited
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  • FAR Gambia, a subsidiary of FAR (FAR), begins drilling on the Bambo-1 exploration well in Block 2A off the coast of Gambia
  • The Bambo-1 well is planned to be drilled to a depth of roughly 3400 metres with drilling expected to take 30 days to complete
  • Drilling will test a series of vertically stacked targets with a combined estimated recoverable, prospective resource of 1118 million barrels
  • The targets include Bambo and Soloo Deep, which have not been previously penetrated, and Soloo which is the extension of the hydrocarbon-bearing reservoirs
  • FAR is steady on the market with shares trading at 85 cents

FAR Gambia, a subsidiary of FAR (FAR), has begun drilling on the Bambo-1 exploration well in Block 2A off the coast of Gambia.

The Bambo-1 well lies roughly 85 kilometres offshore Gambia in a water depth of 930 metres.

It is planned to be drilled to a depth of roughly 3400 metres with drilling expected to take 30 days to complete.

Drilling will test a series of vertically stacked targets with a combined estimated recoverable, prospective resource of 1118 million barrels.

The targets include Bambo and Soloo Deep, which have not been previously penetrated, and Soloo which is the extension of the hydrocarbon-bearing reservoirs.

The Stena IceMax drill arrived on site on November 12 and has successfully spudded the well.

“We are very excited to be drilling offshore The Gambia again and I thank our co-venturer PETRONAS and the Government of The Gambia for their support during a challenging period of uncertainty and delays,” Managing Director Cath Norman said.

“The well will be run as a tight well, and we look forward to announcing drilling results at the appropriate time.”

FAR was steady on the market with shares trading at 85 cents at 12:29 pm AEDT.

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