The Perth-based company told the market on Friday that it was encouraged by preliminary interpretation of the data, which covers a 2086 square kilometre area and was shot by the MV Symphony vessel.

“Completion of 3D processing is another landmark in this world class exploration program and we are delighted with the preliminary results,” FAR chairman Michael Evans said.

“Multiple plays have emerged from this work, including a Giant Buried Hills (Albian) target that will certainly be an eye-catcher when the program goes on display to potential industry partners for the first time at NAPE in Houston during February 2008.”

FAR is also attending NAPE to seek farminees for its NE Waller project area on the Texas Gulf Coast and its Wild River project in west-central Alberta, Canada.

From preliminary analysis of its Senegal seismic, FAR says it has identified multiple Santonian-age fan systems with stacked amplitude anomalies, a “very large” Albian-to-Neocomian shelf edge closure (up to 178 sq.km), and an adjacent Turonian source rock kitchen in the ‘oil window.’

FAR said Houston-based outfit, Rock Solid, has started a detailed attribute analysis of the identified fan complexes on a fast-track track 600 sq km cube within the 3D survey area.

“Inversion and AVO analysis will aid in establishing reservoir presence and possible characteristics within the fan complexes,” FAR said.

“Once this information is integrated into the evaluation, reserve potential will be estimated.”

With a 30% stake, FAR is partners in the Senegal project with Hunt Oil, also the operator, with 60% and Petrosen (10%).