Brief: Far Announces Guinea Bissau Withdrawal

FAR

14/03/2022 22:40

March 15 (Reuters) - FAR Ltd  FAR.AX :
    * 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

Source text for Eikon:  ID:nASX11hxvv 
Further company coverage:  FAR.AX 

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