-------------------------
An Australian Securities Exchange listed oil and gas exploration and development company known in the industry as FAR Limited says that it has identified 1.1 barrels of resources in its two blocks offshore The Gambia i.e. blocks A2 and A5.
The resources are in the two prospects known as "Bambo" and "Samo". According to company sources, operations are already underway to prepare for drilling in late 2018. Industry sources also observed that it will be the first time that drilling is done in offshore Gambia since the adminsitration of Sir Dawda K. Jawara in 1979.
Blocks A2 and A5 cover 2,862 sq km within the Mauritania-Senegal-Guinea Bissau (MSGB) Basin and lie about 30 km offshore in 50 - 1,500m water depth.
From the 3D seismic data, FAR was able to identify the Bambo and Samo prospects. Despite the quality of the seismic data available, FAR opined that more work needs to be done to improve its understand what's at stake and to further reduce the risk.
According to FAR, the opportunities in Blocks A2 and A5 "represent a huge prize, if successful." And based on FAR's experience in its drilling operations in neighboring Senegal, the geological chance of success in the key reservoirs in the Samo prospects is "high for a frontier exploration well". Success in the Samo well would be "truly transformational" for The Gambia and FAR, the firm says.
