First Australian Resources Ltd.

Published : June 21st, 2016

FAR Limited 'Breakthrough Company of the year'

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Keywords :   London | Oil | Senegal | Water |

FAR Limited 'Breakthrough Company of the year'

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21 June 2016

FAR Limited 'Breakthrough Company of the year'

FAR Limited's (ASX: FAR) offshore oil exploration success in Senegal has been recognised in London with the company awarded 'Breakthrough Company of the Year', at the annual Africa Assembly in London held by the prestigious Oil and Gas Council.

Presented at the annual Africa Assembly dinner in London, FAR Limited Managing Director, Cath Norman received the award on behalf of the company.

Oil and Gas Council, Africa, managing director, Drake Lawhead, said, "Quite simply, the Senegal story is the standout over the last two years in Africa, and of all the companies involved there, the title of 'Breakthrough' is most apt for FAR Limited."

The dinner event, part of the annual Africa Energy Assembly in London, is one of the global oil industry's key corporate development, strategy, finance and investment events.

FAR Managing Director, Cath Norman said, "Our Senegal joint venture has had six successes from six wells drilled in country and nearby, Kosmos is two from two. So after having no oil exploration wells drilled for 40 years and nothing ever in deep water, Senegal now boasts eight successes from eight wells.

FAR is thrilled to be the company that made it all happen for Senegal.

2016 marks the 10th anniversary for our company in country. FAR and its partners have made two large discoveries in both a deep water fan and a shelf edge play. The shelf edge delivered the SNE field which is the largest oil field discovery anywhere in the world since 2014 according to IHS. It is definitely the hottest basin in the world at the moment for conventional oil discoveries.

We are just scratching the surface of the prospectivity in our blocks where we still have a number of undrilled prospects. It appears this has the makings of a major new oil and gas province.

FAR is very pleased to receive this award in recognition of its success to date in Senegal."

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First Australian Resources Ltd.

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First Australian Resources Ltd. is based in Australia.

First Australian Resources Ltd. is listed in Australia. Its market capitalisation is AU$ 4.0 billions as of today (US$ 2.9 billions, € 2.5 billions).

Its stock quote reached its lowest recent point on April 03, 2020 at AU$ 0.01, and its highest recent level on June 29, 2022 at AU$ 0.78.

First Australian Resources Ltd. has 5 130 759 680 shares outstanding.

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Corporate news of First Australian Resources Ltd.
6/21/2016FAR Limited 'Breakthrough Company of the year'
1/4/2016Senegal SNE-2 delivers a successful appraisal well
11/3/2015Entitlement Offer Booklet
10/28/2015Change of Share Register Notification - Amendment
10/21/2015Trading Halt
9/28/2015Securities Trading Policy
9/17/2015New 3D seismic survey commenced offshore Senegal
9/14/2015Erin Energy Completes 3D Seismic Acquisition Offshore The Ga...
9/7/2015Half Year Accounts
8/28/2015Change of Share Register Notification
7/1/2015Change of Director's Interest Notice x3
6/24/2015Exercise of Unlisted Options and Appendix 3B
3/30/2015Annual Report to shareholders
3/1/2015Investor Presentation
1/22/2015Executive Appointment
12/10/2014Q and A - FAR's Discoveries in Senegal
11/9/2014Second signficant oil discovery offshore Senegal
10/19/2014FAR strengthens cash position with $46.7m capital raising
10/16/2014Trading Halt
10/31/2013Quarterly Activities Report
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