FAR noted that the acquisition phase has continued at a brisk pace with data quality being described in field reports as good to excellent.
FAR's 2050 sq km 3D survey follows Edison's recently completed 1500 km2 3D in the Rufisque Deep Offshore block adjacent and to the north. The aggregate of this combined activity is likely to substantially upgrade activity in this relatively under-explored but highly prospective northwest African margin.
FAR holds a 30-percent participation in the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore blocks. These offshore concessions, located in the Mauritania- Senegal, Guinea Bissau Basin, offer potential for world-class oil accumulations.
--Senegal Hunt Oil Company (Operator) 60% --First Australian Resources Limited 30% --Petrosen (State Oil Company) 10%
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