Petronas to take 40% stakes in FAR’s Gambian blocks A2/A5

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SYDNEY (Feb 26): FAR ltd. will retain 40% equity and operatorship in the exploration blocks offshore the west African nation, it says in a statement to the ASX.

* JV targets drilling the Samo-1 well in late 2018

* Petronas to fund 80% of well costs up to $45m cap, pay further consideration to FAR of $8.6m