FAR facing drill or drop in Senegal shallows

摘要

FAR is walking a tightrope as it tries to find a partner to carry it for a well in a block off Senegal neighbouring Cairn's existing discoveries with new 3D seismic just arriving as a deadline to drill or drop looms. The Australian minnow is a partner in Cairn Energy's successful Sangomar Offshore block and late last year signed an option to acquire a 75% interest in Trace Atlantic's neighbouring Djiffere block by the end of this October. If it takes up the option it has to drill a well by July-2018.