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FAR strengthens cash position with $46.7 million capital raising


Published Oct 21, 2014
FAR Ltd. in Senegal

FAR Ltd has completed a placement to institutional and sophisticated investors to raise $46.7 million before expenses by issuing 424,961,685 shares.

The capital raising follows the significant oil discovery in FAN-1, offshore Senegal with its partners Cairn Energy plc, ConocoPhillips and Petrosen.

The semi-submersible drilling unit "Cajun Express' used to drill the FAN-1 well has now mobilised to complete the second exploration well in the Senegalese drilling program, SNE-1.

Tags: FAR Ltd




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