Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 20 : 11-Dec-19
FAR Limited has yet to confirm details of a capital raising, with its shares placed in a trading halt on 10 December pending an announcement. The equity raising is believed to include a $146m share placement and a $30m share purchase plan. The capital raising and a new debt facility will provide FAR with the funding needed to proceed with the Sangomar oil project in Senegal, in which it has a 15 per cent stake. The project is initially slated to produce about 230,000 million barrels of oil, commencing in 2023.
FAR LIMITED – ASX FAR, WOODSIDE PETROLEUM LIMITED – ASX WPL, CAIRN ENERGY PLC