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News: FAR Far Announces Guinea Bissau Withdrawal

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    15/03/22
    09:45
    Post #: 60193094

    March 15 (Reuters) - FAR Ltd (FAR) :

    • FAR LTD - GUINEA BISSAU WITHDRAWAL
    • FAR LTD - WITHDRAW FROM ITS INTERESTS IN ESPERANCA BLOCKS 4A & 5A AND SINAPA BLOCK 2 OFFSHORE GUINEA BISSAU
    • FAR LTD - JOINT EFFORTS BY FAR AND OPERATOR PETRONOR TO COLLABORATIVELY FARM-DOWN HAVE BEEN UNSUCCESSFUL
    • FAR LTD - FAR DOES NOT EXPECT TO INCUR ANY NEW MATERIAL EXPENSES RELATED TO INTERESTS
    • FAR LTD - HAS IMPAIRED US$2.7 MILLION OF CAPITALISED COSTS ASSOCIATED WITH GUINEA BISSAU PROJECT IN 2021 YEAR
    • FAR LTD - WILL NOT PARTICIPATE IN ANY FUTURE DEVELOPMENT AND PRODUCTION RELATING TO INTERESTS
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