FAR Ltd (AU:FAR) has released an update.
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FAR Limited, an independent oil & gas company focused on Africa, reported first oil from the Sangomar field offshore Senegal and is exploring the sale of a contingent payment worth up to $55 million from Woodside Energy. The company ended the quarter with $2.2 million in cash, and based on current oil prices and project progress, anticipates receiving the full contingent payment before 2027. FAR Limited has engaged Gneiss Energy as financial advisors to assist with the potential sale of this payment.
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