FAR jumped into deep onshore Texas prospect only last week with the well already drilling on the way to the TD of 13,500 feet.

Further evaluation of gas shows was required before inferring any commercial significance, the company said. But the well’s objectives were defined by 3D seismic tied into three nearby producing wells that were presently producing at a combined rate of 32 million cubic feet of gas per day, so the current test well has ‘high impact potential’, according to FAR.

FAR is participating in a 14,000 foot test of the three objectives in the pressured Middle Wilcox formation that have been independently appraised as having probable recoverable reserves of about 39 billion cubic feet of gas and 1.4 million barrels of oil.

Vaquero-1 was making good progress toward the next planned casing point at 11,000 feet. “Further gas shows up to 200 units (against a background of 20-30 units) were recorded on mudlogs whilst drilling the interval between 9,735 and 9,745 feet and correspond with a drilling break.”

“Strong gas shows were also repeated while drilling through the previously reported interval between 9,310 and 9,455 feet with maximum gas readings of 850 units. Gas cut mud from this interval was circulated back for 30 minutes."

AVO amplitude anomalies were very obvious on the seismic data, possibly indicating gas charged reservoir objectives, the company said.

FAR is paying 11.25% of the drilling and completion cost of Vaquero-1 to earn a 9% working interest in all wells drilled within the area of mutual interest.

Vaquero-1 is being operated by Vaquero Oil and Gas of Houston, Texas. FAr said target depth was anticipated within about 20 days.