First Australian Resources Completes Data Gathering Offshore Senegal

31 May 2009 (Last Updated May 31st, 2009 18:30)

First Australian Resources has completed the initial stages of its control source electro magnetic (CSEM) data acquisition and geophysical evaluation programme in part of its licence area offshore Senegal, West Africa. Data has been gathered from areas within the Sangomar, Rusfique and

First Australian Resources has completed the initial stages of its control source electro magnetic (CSEM) data acquisition and geophysical evaluation programme in part of its licence area offshore Senegal, West Africa.

Data has been gathered from areas within the Sangomar, Rusfique and Sangomar offshore blocks.

A number of drilling prospects have already been identified by First Australian Resources and its partner, Petrosen.

The CSEM phase was funded by Royal Dutch Shell and conducted using the MV Boa Thalassa, launched in December 2008 and chartered by Electromagnetic Geoservices under a long-term contract.

The objective of the programme was to enable Shell to determine whether or not to exercise an option to acquire a 70% interest in the licence area and enter the second renewal period that includes a well commitment.

Shell has 90 days from the completion of the data acquisition phase to decide whether to exercise the option.

First Australian Resources has been advised by Shell that the data acquisition phase was completed on 28 May 2009.