Far Ltd to give shareholders an AUS$80m bonus and exit from Guinea-Bissau
The Australian oil company, long mired in disputes over its interests in the Senegalese offshore, is accelerating its repositioning after finalising the sale of these interests to Woodside in July for US$126 million.
06/09/2021 at 17h11, by Africa Business+
Thanks to this cash inflow—another US$55 million is expected when the Senegalese Sangomar project comes on stream—Far Ltd can now pay its shareholders. These include Meridian Capital Ltd, which held more than 19% of the company’s capital on 3 September, Allan Gray (more than 12%) and Farjoy (more than 5%).
Recommended articles
Oil & Gas
13/05/2021 at 17h05, by Africa Business+
Senegal: $400 million slippage on Woodside’s Sangomar project
As it prepared to acquire shares in Far Limited, the Australian group Woodside saw the cost of the Sangomar...
Insurance
20/01/2020 at 12h13, by Africa Business+
Sangomar/Woodside: Senegalese insurance pool coverage takes effect ($13 million)
Grouped together in an unprecedented joint structure, Senegalese insurers collect $13m in premiums reinsured...
Oil & Gas
16/12/2019 at 16h12, by Pierre-Olivier Rouaud
Imminent arbitration against Woodside unlikely to affect FAR’s fundraising for Sangomar
Listed on the Sydney stock exchange, the junior oil company will raise more than half a billion dollars...