The market value of the junior oil explorer halved on Thursday morning after an exploration well failed to deliver the hoped-for 1.1 billion barrel discovery.
FAR Ltd has concluded the drilling and formation evaluation operations for the Bambo-1ST1 well offshore The Gambia. Although no moveable oil was interpreted, FAR is encouraged to have encountered good oil shows and potential reservoirs in the Bambo-1 well and Bambo-1ST1 side-track.