Following indications of oil traces in rock cuttings and hydrocarbons detected across numerous intervals, FAR, an Australian oil and gas exploration company will expand the extent of its Bambo-1 exploratory well in Block A2, offshore The Gambia. In mid-November, FAR began drilling the Bambo-1 well with the Stena IceMax drillship, which was provided by independent contractor Stena Drilling.

If the finding well proves to be effective, it might lead to a stand-alone development and The Gambia’s first oil production.

Cath Norman, Managing Director for FAR, said: “FAR is pleased with the experienced drilling team and contractors who have acted to quickly manage and adjust the Bambo-1 drilling program to suit the geological setting and best meet the objectives of the drilling program. FAR is well placed to achieve these operations through the side-tracked well and in particular drilling through the as yet undrilled Soloo Deep prospect. We are encouraged by the presence of oil in potential reservoirs and look forward to completing the well in the coming weeks.”

Oil indications within the well were identified by LWD (logging whilst drilling) data 85 kilometres offshore The Gambia, in water depths of 930 metres, with FAR stating that additional wireline logging will be necessary to confirm these discoveries.

The well’s costs are expected to rise to $61.27 million, up from $51.4 million, with FAR projecting a cash balance of $37 million, including the side-track program’s extended operations. Drilling is now projected to be completed by the end of December, compared to a previous estimate of 30 days for operations.

FAR maintains a 50% working interest in the A2 and A5 blocks, while its joint venture partner, PC Gambia, a subsidiary of the global energy conglomerate Petronas, holds the remaining 50%.