FAR Share Price History
30 Jul, 2020
Every investor in FAR Limited (ASX:FAR) should be aware of the most powerful shareholder groups. Institutions often...
16 Jul, 2020
FAR said in March it had failed to secure debt to fund the more than $300 million it needs for its share of the project after global oil prices collapsed amid the coronavirus pandemic. In a further effort to save cash, FAR said is looking to bring in a partner for its Gambian assets before proceeding with drilling at the project in 2021.
24 Jun, 2020
Australian listed oil and gas company FAR Ltd said on Wednesday its unit had defaulted on its obligations to the Sangomar joint venture project in Senegal while the company looks to save cash and sell its interest in the project. Sangomar, operated by Australia's Woodside Petroleum , has been a pain-point for FAR in recent months after the company failed to secure debt to fund it, following a plunge in global oil prices amid the coronavirus pandemic. FAR said it was still considering selling all or part of its interest in the project, adding that it would forfeit its interest without compensation if obligations were not fulfilled within six months.
24 Apr, 2020
Any hopes that Asia's oil and gas industry would escape the worst of the Covid-19 shock evaporated last week as an unprecedented plunge in oil prices reverberated around the globe. Lenders in Asia are hurriedly reassessing their exposure after US oil prices turned negative for the first time in history and more signs emerged of stress in the corporate sector. Chinese oil refiner Shandong Qingyuan Group has asked banks to defer the first principal payment on a US$955m three-year loan by a year to June 2021.
28 Feb, 2020
Nicholas Limb Is The Non-Executive Chairman of FAR Limited (ASX:FAR) And They Just Spent US$310k On Shares
Investors who take an interest in FAR Limited (ASX:FAR) should definitely note that the Non-Executive Chairman...
14 Feb, 2020
Woodside and FAR said on Friday an International Chamber of Commerce panel had ruled that FAR did not have a pre-emptive right to match the offer for the 35% stake in the Sangomar project that ConocoPhillips sold to Woodside in 2016 for just $350 million. FAR said it was reviewing the arbitration award.
21 Jan, 2020
FAR also said the International Chamber of Commerce had approved the draft award in its long-running dispute with Woodside Petroleum over the right to pre-empt the sale of ConocoPhillips' stake in their joint venture to Woodside. Melbourne-based FAR holds a minority share in the joint venture that owns the project, which is operated by Woodside. The JV also includes Cairn Energy Plc and Senegal's state-owned Petrosen.
02 Dec, 2019
The oil and gas explorer, which operates the field, said the development plan and exploitation authorization request are the last major regulatory submissions required before joint venture participants make investment decisions this year. The first phase will develop 230 million barrels, with first oil targeted for early 2023, Woodside said.
13 Nov, 2019
Just because a business does not make any money, does not mean that the stock will go down. For example, although...
01 Oct, 2019
Oil and gas explorer FAR Ltd said on Tuesday it bought an additional 10% interest in two offshore blocks off Gambia, giving the company a 50% working interest and operatorship of the project. The Gambian government has issued new licences to the joint venture between the company's unit FAR Gambia and PC Gambia, a unit of Malaysian state-run oil and gas major Petroliam Nasional Bhd, FAR said in a statement. In August, FAR, which holds a stake in licences for oil drilling off the coast of West Africa's Guinea-Bissau, said a unit of China National Offshore Oil Corp would take a majority stake in those projects.