Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/financial/money/far-strengthens-cash-position-with-467-million-cap.shtmlFAR strengthens cash position with $46.7 million capital raising
FAR Ltd has completed a placement to institutional and sophisticated investors to raise $46.7 million before expenses by issuing 424,961,685 shares.
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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.
