FAR Ltd (AU:FAR) has released an update.
FAR Ltd focused on shareholder value in 2023 with cost reductions, capital returns, and a share buyback program. Despite unsuccessful marketing and the subsequent surrender of its Gambian exploration blocks, the company is poised for a possible capital windfall from a contingent payment tied to the Sangomar Field’s upcoming oil production. Plans are afoot to potentially sell this payment and, if successful, return additional capital to shareholders.
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