or even Malcy's word for that matter. His Feb2020 comment:Far...

or even Malcy's word for that matter.
His Feb2020 comment:

Far Limitedhave over the last few weeks raised all the finance in equity and debt for their part of the Senegal development. I was impressed that the biggest support came from its own existing shareholders and the debt raise was enough to cover this phase which brings forward a project that Far started. They also have interesting acreage in Guinea Bissau where 3D seismic has identified numerous prospects and leads and expect drilling within 12-24 months. Perhaps more important are the A2 and A5 blocks in The Gambia which they subsequently farmed-down to Petronas and subsequently drilled the Samo-1 well in 2018. The Gambian prospectivity is in a continuation of the ‘shelf edge’ play that houses the giant Sangomar Field offshore Senegal which could potentially also add to Far’s value. Far lost their recent arbitration case in the International court so the shares look highly attractive from here given the backing from Senegal Phase 1 and the exploration upside.
----

Nov2020 comment

Far has announced a SPA with ONGC for their PSC offshore Senegal for $45m plus working cap since 1 Jan of $66.58m. The offer, whilst looking lower than might have been expected a while ago ‘represents the best option available at this time.

FAR’s Managing Director, Cath Norman said: “We are pleased to bring this deal to our shareholders and wish to
thank ONGC for their interest and cooperation over the last few months. ONGC is a very reputable group with
global exploration and production interests. We believe they will be a valuable partner for Petrosen and Woodside
going forward.
As we have acknowledged, the market for financing and selling assets has been weak since the impact of COVID
was felt in March of this year. In these circumstances, the offer from ONGC represents the best option available
at this time and we trust that our shareholders will vote for this transaction.
FAR expects to have approximately US$130 million in cash at the close of this Transaction that will be used to
rebuild the Company and further our other West African prospects offshore the Gambia and Guinea-Bissau’.