The end looms for FAR amid cash return plans
Australia-listed minnow FAR has given up its plans to grow and instead opted to wind down its business and return cash to shareholders.
FAR
Petronas out of Gambia, while FAR steps up
Petronas has officially transferred its stake in two Gambian blocks to Australian minnow FAR, which will now seek a new partner to support exploration.
FAR beefs up board’s exploration insight with geologist Stein
Beleaguered Australian minnow FAR has appointed explorer Alan Stein as a non-executive director, suggesting the company is sticking to its growth plans.
FAR shareholder slates “inadequate” Samuel Terry bid
Australian explorer FAR’s major shareholder has rejected a takeover bid from Samuel Terry Asset Management.
Restive shareholder exits FAR, following Bambo miss
Australian minnow FAR (ASX:FAR) is likely to be breathing a sigh of relief on the notice that Allan Gray is no longer a substantial holder, although there remain questions for the future.
FAR to side track Bambo well as costs rise
Drilling problems at Bambo-1, offshore The Gambia, will see costs rise by around $10 million, operator minnow FAR has warned.
FAR spuds well offshore Gambia
Australia’s FAR has begun drilling the Bambo-1 exploration well, offshore The Gambia.
FAR capital return to sweeten pill on trading resumption
Australian minnow FAR has announced plans to return cash to shareholders, while still going ahead with drilling a well off The Gambia.
Shareholder vote turns against FAR plans
Shareholders in MSGBC Basin-focused FAR have rejected the company’s remuneration report, although backing various corporate measures.
FAR lines up Stena rig for Gambian exploration
FAR has booked a Stena Drilling rig for an exploration well in The Gambia at the end of the year.
FAR holders back Woodside sale
Shareholders in FAR have approved the sale of the company’s stake in a Senegal licence to Woodside Energy.
Remus drops out of FAR bidding
Remus Horizons PCC has abandoned its bid to acquire FAR, paving the way for Woodside Energy to complete its takeover of Senegal’s Sangomar.
Lukoil drops FAR offer, Woodside in pole position
Lukoil has pulled its non-binding bid for FAR, clearing the way for Woodside Energy to increase its stake in the Sangomar project.
Lukoil throws hat into FAR ring
Russia’s Lukoil has emerged as another suitor to buy MSGBC Basin-focused FAR, for A$220 million ($170mn).
FAR receives takeover offer, threatens Senegal sale
FAR has received a non-binding proposal for its potential acquisition by Remus Horizons PCC that may derail its Senegal sale.
Woodside pre-empts FAR sale to ONGC
Woodside Energy has opted to pre-empt the sale of FAR’s stake in a licence offshore Senegal, which will increase the buyer’s stake to 82% in the Sangomar field.
EV Out Loud: Austin powers back, steroids for microbes, and heartbreak in Uganda
On this week’s episode, in association with Fasken, the team looks at the return of RockRose Energy founder Andrew Austin to the North Sea fold, after he sold up his former firm for nearly £250m earlier this year.
FAR strikes bittersweet Sangomar sale with ONGC
Australia’s FAR Ltd has struck a deal to sell its Senegal interests to India’s ONGC for $45 million plus some costs.
Clock running down for FAR in Senegal
Australia’s FAR did not exercise its right to pre-empt the sale of Cairn Energy’s stake in the Sangomar field, as the company works to find a buyer for its own interest.
FAR slips into default at Sangomar
Australia’s FAR is in default for its payments due on the Sangomar field, following recent talk of delays in Senegal’s upstream plans.
Woodside defiant on Sangomar schedule
Woodside Petroleum has denied that first oil from the Sangomar field will be delayed because of the coronavirus pandemic.
China eyes African opportunities
Amidst the oil price crash crisis and the pressure on companies, opportunities are emerging for those with resources.
FAR hoists “for sale” sign on Sangomar
Australia’s FAR has been unable to secure financing for its stake in the Sangomar field development and so has begun a process to sell all, or a part, of its stake in the Senegalese project.
TGS fires into Gambian deepwater survey
TGS has begun a 3D seismic survey offshore The Gambia, under its Gambito 2020 programme.
Africa to feel squeeze as plans about to change
The double threat of coronavirus and the price crash has forced oil companies around the world to rearrange plans and save money where possible, and Africa is set to feel the squeeze.