In a statement today, FAR said the Todco 29 barge rig was being mobilised to the project area to drill the SL 328-9 well (formerly Palace SL 328-2) to a total depth of 13,555 feet (4131m).
“The SL 328-9 will be the fourth well in our 2007 North American program,” FAR chairman Michael Evans said.
“The first three wells have all been completed for production and should progressively add to our revenue and reserve base.”
After reinterpreting data, the operator estimates the prospect potentially contains 21.7 billion cubic feet of gas and 760,000 barrels of oil.
Additional potential is thought to exist in offset fault blocks of 28.7Bcf and 1 million barrels.
The prospect is supported by a combination of 3D seismic and subsurface well control tied into FAR’s successful SL 328-1 well, which was drilled in 2004 and came online at 5.6 million cubic feet of gas per day and 301 barrels of oil per day.
The well is still producing at a daily rate of 3.6MMcf of gas and 60bbl of oil.
Elsewhere, FAR has farmed-out a 25% interest in the Thunder River prospect to operator Mustang Energy, which in return will drill an 11,000ft well to test the Bigerina Sand.
Amadeus and Sun Resources are recent farminees.
