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IS - FAR fetching $620MM to develop Sangomar to 2023 first oil - December 2019
FAR Ltd. is amassing funds to go full-throttle into the Sangomar project off Senegal, raising money from both equity offerings and two credit facilities to develop 485 MMbo and 9.6 Bcfe through multiple phases. FAR has a 13.67% stake in Sangomar, formerly called SNE, and is expected to pay about $492 million of development costs through first oil in 2023. FAR held a conditional placement of more than 3.4 billion ordinary shares at A$0.0425......
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