|Bid||0.0310 x 0|
|Ask||0.0320 x 0|
|Day's Range||0.0300 - 0.0320|
|52 Week Range||0.0280 - 0.0810|
|Beta (5Y Monthly)||0.47|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 31, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||0.16|
Woodside and FAR said on Friday an International Chamber of Commerce panel had ruled that FAR did not have a pre-emptive right to match the offer for the 35% stake in the Sangomar project that ConocoPhillips sold to Woodside in 2016 for just $350 million. FAR said it was reviewing the arbitration award.
FAR also said the International Chamber of Commerce had approved the draft award in its long-running dispute with Woodside Petroleum over the right to pre-empt the sale of ConocoPhillips' stake in their joint venture to Woodside. Melbourne-based FAR holds a minority share in the joint venture that owns the project, which is operated by Woodside. The JV also includes Cairn Energy Plc and Senegal's state-owned Petrosen.
The oil and gas explorer, which operates the field, said the development plan and exploitation authorization request are the last major regulatory submissions required before joint venture participants make investment decisions this year. The first phase will develop 230 million barrels, with first oil targeted for early 2023, Woodside said.
Oil and gas explorer FAR Ltd said on Tuesday it bought an additional 10% interest in two offshore blocks off Gambia, giving the company a 50% working interest and operatorship of the project. The Gambian government has issued new licences to the joint venture between the company's unit FAR Gambia and PC Gambia, a unit of Malaysian state-run oil and gas major Petroliam Nasional Bhd, FAR said in a statement. In August, FAR, which holds a stake in licences for oil drilling off the coast of West Africa's Guinea-Bissau, said a unit of China National Offshore Oil Corp would take a majority stake in those projects.
Australian oil and gas explorer FAR Ltd on Wednesday said that a tribunal ruling is expected by the end of 2019 for its arbitration with Woodside Petroleum Ltd over the latter's stake in the SNE oil project off Senegal. FAR is currently in arbitration over the sale by ConocoPhillips of a 35 percent interest in the SNE project to Woodside for $350 million in 2016. FAR had contended that it should have had pre-emptive rights over the ConocoPhillips stake, which was sold for what it considered a cheap price.
Want to participate in a short research study? Help shape the future of investing tools and you could win a $250 gift card! The latest earnings release FAR Limited's (ASX:FAR) announced in December 2018 revealed...
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