FAR Share Price History
11 Nov, 2020
Seeking to rebuild itself amid a downturn in the oil and gas industry, cash-strapped FAR defaulted on its project contributions in June and warned it would forfeit its interest without compensation if obligations were not fulfilled within six months. Sangomar is a joint venture with Australia's Woodside Petroleum and Senegal's national oil company, Petrosen.
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.