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FAR Limited (ASX:FAR) is an independent, Africa focussed, Australian Securities Exchange listed, oil and gas exploration and development company with high value assets in West Africa, East Africa and Australia.

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Last updated 11th June 2019

African focused oil and gas explorer

FAR’s large African portfolio covers 31,400km² over eight exploration blocks in Senegal, Guinea-Bissau and Kenya in West and East Africa.

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FAR discovers deep water elephants
Offshore Senegal (FAR 15%)
World’s largest oil discovery for 2014: SNE oil field

FAR (15% interest) made two world class oil discoveries, FAN-1 and the SNE-1, in the Sangomar Deep portion of its offshore Senegal PSC in late 2014. These two “basin opening” discoveries, dramatically changed global oil industry perceptions of the region’s petroleum prospectivity, transforming Senegal into one of the world’s most sought after exploration destinations. The Rufisque, Sangomar and Sangomar Deep (RSSD) offshore Production Sharing Contract (PSC) covers an area of approximately 7,490 kilometres² over the shelf, slope, and basin floor of the Senegalese portion of the productive Mauritania-Senegal-Guinea-Bissau Basin.  The SNE-1 discovery has subsequently been appraised with 7 successful wells over two drilling campaigns, completing in mid 2017. The appraisal proved the size and deliverability objectives and pre-FEED studies are currently being undertaken with FID expected at the end of 2018 and first oil in 2021-2023.

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The Gambia
Multi-billion barrel potential on trend with SNE field in Senegal

In 2017, FAR acquired an 80% working interest and Operatorship in two highly prospective offshore Blocks – A2 and A5 – offshore The Gambia, located on trend with and adjacent to FAR’s Senegal blocks encompassing the world class SNE Field. Blocks A2 and A5 have been independently assessed to contain prospective resources on a best estimate basis of more than one billion barrels of oil. The Gambian prospectivity is in a continuation of the ‘shelf edge’ play that houses the giant SNE Field offshore Senegal.

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Functioning hydrocarbon system

The underlying exploration potential of offshore Guinea-Bissau has long been recognised given the functioning hydrocarbon system, good potential reservoirs and multiple drillable prospects in a wide shallow water shelf setting. Encouraging results from 3D seismic acquired in 2010 has identified numerous prospects and leads.

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Large equity position in a fast emerging oil and gas margin

In Block L6 FAR holds 60% offshore and a 24% onshore paying and beneficial interest (I) and is also the permit Operator. The Block is located in the highly prospective East African margin in the Lamu Basin, Kenya, north of recent, world-scale, natural gas discoveries totalling around 100 trillion cubic feet off the coasts of Mozambique and Tanzania.

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Surrounded by proven petroleum systems

Hydrocarbon exploration in the Dampier Sub-basin, offshore Western Australia, dates back to the late 1960’s when the Legendre-1 exploration well encountered oil. Since then, over 200 exploration and development wells have been drilled with an exploration technical success rate of 41%. Commercial success rates are >20%. Historically, exploration has focussed on structural traps, with wells concentrated along the basin margins and prominent inversion trends. More recently, exploration has begun to test the stratigraphic trapping potential closer to the main depositional-centres where turbidite sands are more concentrated.

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Last updated 11th June 2019

Nicholas Limb
Non-Executive Chairman

Mr. Limb is a professional geophysicist and also has extensive experience as a stockbroker and merchant banker. He is currently Executive Chairman of Mineral Deposits Limited, an Australian listed company. Nic has significant in-country experience in Senegal.

Catherine Norman
Managing Director

Ms. Norman is a professional geophysicist who has twenty years’ experience in the mineral and oil and gas exploration industry, having held executive positions both in Australia and the UK and carried out operating assignments in Europe, Africa, the Middle East and Australia. She has a strong background in the application of traditional and innovating geophysical technologies in the search for oil and gas and in new business development. Cath served as the Managing Director of Flow Energy for 6 years.

Reg Nelson
Non-Executive Director

Reg Nelson is one of Australia’s petroleum industry’s most significant figures. He is best known as having served as Managing Director of Beach Energy Limited for 13 years. While at Beach he led them from near bankruptcy into a company worth more than $A1.5 billion. He is an exploration geophysicist with over 45 years of experience in the petroleum and minerals industries and has served as a Councillor of the Australian Petroleum Production and Exploration Association.

Tim Woodall
Non-Executive Director

Tim Woodall has over 25 years’ experience in international M&A and finance, specialising in oil and gas sector.  His expertise includes being the founder and Managing Director of a boutique advisory firm, the CEO of a technical consulting firm and senior roles in New York and London with global investment banks.  Additionally, he has held senior executive positions with E&P companies in Australia and the USA.  Tim has a Bachelor of Economics from the University of Adelaide, is a Fellow of the Australian Society of CPAs and a graduate member of the AICD.


Last updated 11th June 2019

Melbourne Office
Level 17, 530 Collins Street
Melbourne VIC 3000

+61 3 9618 2550

+61 3 9620 5200

Registered Office & Principal Place of Business

Level 17
530 Collins Street
Melbourne, Victoria, 3000

Telephone: +61 (0) 3 9618 2550
Facsimile: +61 (0) 3 9620 5200

Website: www.far.com.au
Email: info@far.com.au

Registered Office Postal Address

Level 17
530 Collins Street
Melbourne, Victoria, 3000

Share Registry

Computershare Investor Services
452 Johnston Street
Abbotsford, Victoria, 3067

Telephone: 1300 850 050 or +61 (0)3 9415 4000
Facsimile: +61 (0) 3 9473 2500
Website: www.computershare.com.au


Westpac Banking Corporation
360 Collins Street
Melbourne, Victoria, 3000

Bank of the West

Denver CBC
600 17th Street, Suite 1500
Denver, Colorado, 80202
United States of America

Stanbic Bank Limited

Level 5, CfC Stanbic Building
Kenyatta Avenue
Nairobi, Kenya

Solicitors to the Company

Baker & McKenzie
Level 19, 181 William Street
Melbourne, Victoria, 3000


Deloitte Touche Tohmatsu
550 Bourke Street
Melbourne, Victoria, 3000

Stock Exchange Listings

Australian Securities Exchange

DR Depositary

BNY Mellon
101 Barclay Street
New York, New York, 10286
United States of America


Last updated 11th June 2019