The Kenyan Government has confirmed a 60% expansion of FAR Ltd.’s L6 exploration permit off Kenya. This previously relinquished acreage increases the total permit area to 5,010sq km. The company has identified a number of play types and prospects in the L6 permit, including a Miocene carbonate reef play that extends into the newly awarded acreage.
FAR estimates that the new acreage has prospective resources of 773 MMbbls of oil or 2,141 Bcf of gas (un-risked best estimate, 100% basis). This brings the prospective resource estimate for the total L6 permit to 3,962 MMbbls oil or in a gas only success case, 10,689 Bcf (unrisked, best estimate, 100% basis).
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