This is an excellent announcement. Apart from the obvious positives in the increase in lease % to FAR, the extended time frame, and FAR retaining operatorship....it importantly reinforces The Gambia government's overall faith in FAR. The latter point imo is the most important aspect out of this. With FAR currently having so many balls in the air and the existing market uncertainty it would have been easy for The Gambia to have taken a different approach. This announcement reflects that The Gambia is very comfortable with FAR's intended road forward...and it's ability to get there!
Well done FAR.
dodds
Ann: FAR obtains additional 10% interest in Gambian blocks, page-34
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