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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| First Australian Resources Limited | ASX:FAR | Australian Stock Exchange | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.02 | 4.60% | 0.455 | 0.44 | 0.46 | 0.455 | 0.435 | 0.44 | 342,877 | 07:43:20 |
From May 2019 to May 2024
By Razak Musah Baba
LONDON--Cairn Energy PLC (CNE.LN) and its joint venture partners have plugged and abandoned the SNE-1 well in Senegal and plans are now underway to appraise the discovery next year.
Cairn Energy said it has completed operations on the SNE-1 well and "having discovered oil in the upper clastic target, no hydrocarbons were subsequently encountered in the deeper target of karstified and fractured Lower Cretaceous shelf carbonates.
"Following completion of logging operations the well will be plugged and abandoned," the company said.
Cairn has a 40% working interest in three blocks offshore Senegal (Sangomar Deep, Sangomar Offshore and Rufisque), ConocoPhillips has a 35% working interest, FAR Ltd. a 15% working interest and Petrosen, the national oil company of Senegal, 10%.
Write to Razak Musah Baba at razak.baba@wsj.com; Twitter: @Raztweet
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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