Malcy’s Update

Far Ltd

Far has released its Annual Report this morning, such a document is normally a historical reference work for shareholders which I wouldnt normally comment on but it is always good to see an update from the company which is in such a chipper mood.

Last year was a very busy one and ended with the slightly unexpected disappointment in The Gambia. In the report Far say that the technical work is still going on but that it ‘is confident of progressing towards another well in early 2020’. The company repeat that they have strong evidence that the SNE field extends into The Gambia and as such are refining the Soloo prospect at present.

Whilst The Gambia disappointed it is clearly not going away and the company are rightly persevering with it. Development at the SNE field continues and whatever the outcome of the arbitration will be a jewel in their crown in coming years. Apart from The Gambia, exploration work continues on its acreage in Guinea-Bissau and we can expect a well there in 2020 as well subject to usual approvals.

I know that shareholders in Far have been incredibly patient but the combination of the SNE field, significant exploration potential in The Gambia and Guinea-Bissau makes Far a genuinely serious player in the MSGBC basin in West Africa and one that is not recognised by the share price at present. It may be a long haul but I am still convinced that it will be rewarding.

gh.