FAR Bamboo drilling fails to offer (

Australian oil and gas company FAR Limited said Thursday that Bambo-1ST1, off the coast of The Gambia, had not encountered a living oil column and was blocked and abandoned.

Despite disappointment, FAR has an oil show that “confirms the existence of abundant oil sources in the area” at several target intervals in the well, and oil shows added at both. A2 and A5 blocks have shown that they have the opportunity to explore material and open a running room.

“The drilling work for the Bambo-1 well and the Bambo-1 ST1 sidetrack well was carried out safely and within a modified budget. In line with the well abandonment program planned for this type of exploration, the well. The side truck is blocked and abandoned. Well. ” FAR using the StenaIceMax drillship said.

Cass Snowman, FAR’s Managing Director said: This project provided important geological information, including new play types, reaffirming the potential for further hydrocarbon prospects in The Gambia’s A2 and A5 blocks. Bambo-1 and Sidetrack have confirmed that all the necessary oil system elements are present in the region, and the technical team is already busy integrating new data with advanced prospects. ”

“The drilling conditions for the Bambo-1 well had some technical challenges, but the well and sidetrack operations were completed safely and within the revised budget. Exceed and Stena drilling teams with FAR Thank you for your cooperation. Complete this program. “” FAR is the next step in working with its partners Petronas and the Government of Gambia to realize the exploration potential of the country. I look forward to working on it. ”

FAR is an A2 licensed operator off the coast of The Gambia where the Bamboo well was excavated and is a 50% stakeholder. Wells fulfill the minimum work obligation of drilling one exploration well during the initial exploration period of both A2 and A5 licenses.