West African explorer FAR Ltd. said Tuesday that an independent audit has uncovered at least 1 billion barrels of oil offshore Gambia. FAR Ltd., an Australian company with a strong portfolio offshore West Africa, said an audit of geotechnical data show the Samo and Bambo prospects off the coast of Gambia hold combined best estimate prospective reserves of 1.1 billion barrels. According to the data, the Sama prospect in particular holds substantial promise, with an estimated chance of success of more than 50 percent. Managing Director Cath Norman said in a statement that Gambia could be a “huge prize” if data analysis turn into real barrels. “Given the eight successful wells drilled on the shelf to date in Senegal and […]