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Far Limited (ASX:FAR)

ALERT: Price-sensitive ASX Announcement for FAR
Current share price for FAR : $0.285 -0.17 (-37.36%)+
Announcement
Release
30 Jan 2026 8:27AM
Price at Release
$0.455
Full Release
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Summary
FAR Limited's Quarterly Activities Report for the quarter ending 31 December 2025 highlights a cash balance of US$1.9 million. The company entered a settlement with Woodside Energy involving a payment of US$6,029,899 in relation to the RSSD Project claim, with potential recovery if Woodside can reclaim costs from Senegal's Ministry of Energy. FAR has a contingent agreement with Woodside that could yield up to US$55 million based on oil prices and production metrics from the Sangomar Project. No current loans or unused financing facilities are reported, and the company estimates its available funding can support operations for over 55 quarters. Payments to related parties amounted to US$49,000 for the quarter, covering non-executive director remuneration.
Key Points
  • FAR Limited reported a cash balance of US$1.9 million at the end of the December 2025 quarter.
  • The company entered into a settlement agreement with Woodside Energy, paying US$6,029,899 concerning the RSSD Project claim.
  • FAR Limited has a contingent payment agreement with Woodside Energy, which could give a maximum value of US$55 million, based on oil price and production conditions.
  • The contingent payment is linked to the Sangomar Project in Senegal, and the payment terminates on the earliest of 31 December 2027 or when US$55 million is reached.
  • The company has no outstanding loans or unused financing facilities as of the end of the quarter.
  • Aggregate payments to related parties and their associates during the quarter were US$49,000, mainly for Non-Executive Director remuneration.
  • The company forecasts having sufficient cash for 55.20 quarters based on current available funding and expenditures.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.