FAR: Discovery made at SNE North-1 By Martin Kovacs, 7 Aug 2017

FAR Limited has advised that an oil discovery has been made at the offshore Senegal SNE North-1 exploration well, drilled into the Sirius prospect to the north of the SNE oil field.

FAR advised that the well discovered hydrocarbons at three separate intervals, while a fourth zone may also be present.

“These intervals include an oil and gas column in the S520, which is the high-quality, lower reservoir in the SNE field,” FAR stated. “At the SNE North-1 location, the S520 is deeper than the SNE field oil-water contact. Samples of a consistent 35 degree API oil (lighter than that encountered in the SNE field), water and gas were recovered to surface.

“Work to determine the extent of the hydrocarbon accumulations is ongoing. Additional work is being undertaken to establish the potential commerciality of this discovery and to integrate the results with the block-wide data gathered to date.”

FAR stated that its preliminary analysis indicates in excess of 24 m of gross hydrocarbon column across at least three intervals, and in excess of 16 m of net hydrocarbons in high-quality reservoirs.

Marking the end of the five-well 2017 drilling campaign, as planned SNE North-1 is being plugged and abandoned, and the Stena DrillMAX rig will be released, FAR stated.

“The SNE North-1 discovery yet again verifies the quality of the oil-and-gas-generating system in our offshore Senegal permits and is another significant result,” FAR Managing Director Cath Norman commented.

“It is the 11th successful well drilled into the RSSD permits and the fifth in this year’s campaign. The SNE North-1 well results are very encouraging for the structural trend to the north of the SNE field and the broader exploration potential of our Senegal permit and our other blocks in the region.

“The operator is to be commended for delivering a safe and successful drilling program in Senegal this year and we look forward to now progressing the SNE field development with our joint venture partners. We look forward to providing our shareholders with an updated independently certified assessment of the SNE field contingent resources and development plans for the SNE field in the coming weeks.”