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FAR, the Australian Securities Exchange listed oil and gas exploration and development company has completed geotechnical studies and a resource assessment over offshore Blocks A2 and A5 and is looking to drilling its first well in 2018.
Last month the company announced an estimate of 1.1 billion barrels of resources in the two blocks.
Blocks A2 and A5 cover 2,682 sq km and are adjacent to and on trend with SNE discovery offshore Senegal and thus hold great promise. Both concessions are also within the Mauritania-Senegal-Guinea-Bissau basin.
The two drillable prospects named "Samo" and "Bambo" are very similar to the shelf edge explored off Senegal.
The Managing Director of FAR was quoted last month saying : " The Gambia represents a huge prize, if successful" and that the geological chance of success is high for a frontier exploration well.
