ASX ANNOUNCEMENT AND MEDIA RELEASE
FAR ANNOUNCES SALE AGREEMENT ON CHINA INTERESTS
As foreshadowed in earlier ASX releases, FAR has reached agreement to sell its 5 percent interest in
Beibu Gulf Block 22/12.
The sale price of US$8 million is to be paid in three tranches
1. US$2 million within 14 days
2. US$3 million upon approval of an Oilfield Development Program (“ODP”) or if commercial
development of the project proceeds
3. US$3 million once the project has produced 1 million barrels of oil (gross).
announcement
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Mkt cap ! $46.66M | |||
| Open | High | Low | Value | Volume |
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Buyers (Bids)
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| Price($) | Vol. | No. |
|---|---|---|
| 51.0¢ | 345490 | 5 |
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