Australian explorer Far Ltd intends to drill one onshore and one offshore well in the last quarter of 2015 according to the latest presentation by the company at the Resources Rising Star Conference.
Offshore the company is currently progressing a farm out initiative for drilling an offshore well with the process expected to be complete by the end of October with drilling set to start in December 2015.
Onshore Far is currently planning the acquisition of 2D seismic with acquisition and processing expected to be complete by July 2015 with drilling set to commence in October.
Offshore the company has drill ready prospects in Kifaru and Tembo with a projected estimate potential of 170mbo and 327MBO of oil respectively out of the 3.7BB0 prospectivity respectively.
Far Ltd says it is motivated by the results of the Maridadi 1 well which encountered gas shows at the depth of 3320m-3600m, and oil shows at the depth of 3660m and which lies at the edge of the block.
Last month Far Ltd announced that it had received a 1 year extension in the PSC term of Block L6 after the company delayed planned activities Government of Kenya due to the inability to access the ground to complete planned seismic operations because of security incidents in the country
FAR has a net interest of 60% offshore, 24% onshore and is the Operator of the block.