FAR receives L6 farmout agreement approval from the Kenyan Ministry of Energy and Petroleum (Scandinavian Oil-Gas Magazine)

FAR receives L6 farmout agreement approval from the Kenyan Ministry of Energy and Petroleum

Published Feb 18, 2014

FAR Ltd has received approval from the Ministry of Energy and Petroleum in Kenya for its first farm in deal on its highly prospective onshore and offshore Kenya exploration permit, Block L6, located in the Lamu basin.

Under the terms of the farm-in with Milio E&P Limited and Milio International ('Milio'), FAR will be fully funded through the drilling and testing of a high impact onshore exploration well in Block L6 expected to spud in H1 2015.

FAR will also be fully funded through the acquisition, processing and interpretation of a regional onshore 1,000 kilometre 2D seismic survey. This is expected to confirm a number of prospects in onshore L6 as drill targets.

Tags: FAR Ltd

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