logo-loader
viewFAR Ltd

FAR Ltd concludes seismic data acquisition across offshore Western Australia permit

The purpose of seismic acquisition is to create an image of the subsurface and to estimate the distribution of the fluid or gas content.

Research vessel MV Geo Coral
Research vessel MV Geo Coral

FAR Ltd (ASX:FAR) has safely and successfully completed the seismic acquisition across the permit WA-458-P, which lies within the prolific Dampier sub-basin offshore Western Australia.

Background

Late last quarter FAR concluded stakeholder engagements with geophysical services company CGG to join in the much anticipated Davros Extension Multiclient 3D Survey.

FAR received a Notice of Start of Acquisition from CGG in mid-December as the MV Geo Coral began its mobilisation from southeast Asia.

After a brief port call in Broome, the vessel commenced deployment of in-water equipment whilst on route to the survey area.

Post end of the quarter, seismic acquisition across permit WA-458-P began.

Location of WA-458-P and Davros 3D seismic survey

The survey was safely and securely completed in mid-January and FAR anticipates receiving the final processed data in H2 2019 to enable a full evaluation of WA-458-P.

Importantly, the new data will be used for detailed mapping of the prospects which have been identified, leading to selection of potential candidates for drilling.

FAR intends to farm down its high interest in WA-458-P after completing its evaluation of the permit using this new seismic data.

READ: FAR Ltd begins engineering design work at SNE oil field offshore Senegal

FAR managing director Cath Norman said: “It is great to finally complete the seismic over the WA-458- P permit.

“Offshore Western Australia has seen a resurgence of activity following the Dorado discovery and FAR looks forward to completing this work on the block, aimed at identifying a drillable prospect, and then bringing in a partner for the drilling.”

Quick facts: FAR Ltd

Price: 0.043 AUD

ASX:FAR
Market: ASX
Market Cap: $270.06 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of FAR Ltd named herein, including the promotion by the Company of FAR Ltd in any Content on the Site, the Company receives from said issuer...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

FAR Ltd's Cath Norman calls US investors' response to its northwest Africa...

FAR Ltd (ASX: FAR) Managing Director Cath Norman visited the Proactive Investors' New York studio Thursday to update US investors on the company's assets in northwest Africa, saying the reaction from investors has been 'terrific.' Norman says the oil exploration company has drilled 11 oil...

on 15/3/19

2 min read