The Gambia: “no moveable oil” at Bambo-1 despite oil shows

Australian independent FAR has announced that its Bambo-1X exploratory well offshore The Gambia did not interpret any moveable oil despite encountering good oil shows. The well was drilled to a total depth of 3317 metres MDBRT within Block A2 just south of Senegal’s Sangomar oil field. FAR is operator of the A2 license with a 50% interest.

Drilling consisted in the Bambo-1 well, which was plugged and followed by the Bambo-1ST1 well. The well targeted three key prospects: Soloo, Bambo and Soloo Deep with resources estimated at a maximum of 1.118 billion barrels and chances of success ranging between 7% to 37%.

“The drilling and logging data obtained on the main well and the side-track well indicates that several target intervals in the well had oil shows, confirming a prolific oil source is present in the area,” FAR said.  

While results are encouraging for future exploration campaigns, they remain a disappointment for FAR’s short-term prospects. The company went into default in early 2021, forcing it to sell its entire 15% interest in the Sangomar offshore oil project (RSSD joint-venture) in Senegal to Woodside Energy. A successful discovery at Bambo would have allowed FAR to enter development stage and continue to be part of the MSGBC Basin’s ongoing success story.

Details on the exploration of the A2 and A5 Blocks offshore The Gambia are available in the “Projects” section within your Hawilti+ research terminal.

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