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FAR 6.8¢

we have clarification -... 17/07/2017, 25909425

  1. we have clarification - thanks Cath.

    I wish to assure you of the following:


    1. FAR has not appeared in any court in Senegal
    2. FAR has not been served any papers by Cap
    3. FAR has no debt to Cap
    4. FAR is not Sydney listed
    5. All PSC holders offshore Senegal must lodge a bank guarantee to guarantee the performance of their obligations in country
    6. The agreement between FAR and Trace/Cap is under UK jurisdiction
    7. There is no agreement in the Senegal RSSD JV for Woodside to assume operatorship and FAR is not in FAR’s interests to jeopardise SNE’s first oil target of 2021
    8. FAR is not well advanced in discussions with an independent to sell FAR’s share of the RSSD project
    9. The AMI with CNOOC was not signed in February
    10. FAR cannot prevent Trace/Cap from acquiring 3D seismic over the Djiffere permit

    Thanks for your concern, it is indeed worrying that a generally well respected journal such as Upstream can publish such nonsense. The sentiment in the article is very much against FAR, we have no explanation for this except to say that Cap has likely fed a story to a gullible journalist – to what end, we are not sure.


    I am equally as frustrated as you obviously are at this article, it’s content and sentiment. Rest assured that we are investigating further.

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