Highlights Changes to the Board and management with...

Highlights
 Changes to the Board and management with Non-Executive Chairman, Mr Patrick O’Connor,
assuming the responsibilities of the chief executive, Mr Garth Campbell-Cowan appointed as
Chief Financial Officer and Dr Alan Stein joining the Board as a Non-Executive Director.
 A program of cost saving measures is ongoing.
 Analysis of data collected following completion of the Bambo-1 well suggests that the well
may have encountered the edge of two oil columns.
 The Panthera prospect is located up-dip from one of these oil columns and is now the best
ranked feature in The Gambia portfolio.
 FAR is considering transaction strategies to maximise the value from its drilling investment
in The Gambia.
 It was determined that retaining the Woodside Contingent Payment of up to US$55 million
within FAR as more effective than demerging the payment into a new entity.
 Cash at period end of US$39.9 million
 The new Board and management team are focused on a wide range of strategies to ensure
that the share price better reflects the underlying asset value.