The well is to be directionally drilled to test the deep Cib. Op. interval as well as evaluate shallower objectives at the 6900 Sand, Krumbhaar and Upper, Middle and Lower Hollywood intervals.
Based on the Kent Bayou Field analogue, sand pay thicknesses exceeding 500ft are possible at the Cib. Op. interval at Lake Long. The field operator, Kriti Exploration Inc has estimated the potential reserves of the prospect to be in the order of 766 billion cubic feet of gas equivalent.
Discovered in 1938, the field has produced in excess of 300 billion cubic feet of gas and over 20 million barrels of oil to date. FAR will participate in the Lake Long Deep test well by paying five percent of the well (before completion) reducing to a working interest of 4.09375% (after completion).
To date FAR has participated in four wells within the field, all of which have resulted in commercial production. Existing facilities within Lake Long will enable early sales into the central production system with Columbia gas and Amoco being the ultimate product purchasers, although field capacity would need to be upgraded in the event of a large gas discovery.
