Australian independent Far now fully owns two blocks offshore Gambia
Australian indie expands Gambian interests
Far is seeking new partners to advance developments
ASX-listed Far has bought out Malaysian NOC Petronas’ remaining stakes in two blocks offshore Gambia. Far held 50pc of blocks A2 and A5, with Petronas’ PC Gambia subsidiary owning the rest. The Australian independent now owns 100pc of both Gambian blocks. However, development may still be some way off. Far is looking for new partners to farm-in to the project and help fund the future exploration programme. With government approval, and with “certain conditions”, “incoming participants in the joint venture may assume operatorship”, Far says. And the next two-year license term for the blocks is due to start on 1 October, but Far is no longer obliged to drill an exploration well during that per
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