Past year: ▼ 22%(28.0c – 62.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
26 Aug 2026half year report● Neutral
Half-year to 30 June 2026 profit of US$1.44M, versus a US$1.82M loss a year earlier. Net tangible assets were 21.29 cents per share, down from 44.44 cents at December 2025. Maximum future contingent payment remains US$19.8M.
15 July 2026regulatory community update▲ Good
The ATO published a class ruling confirming the 35 cent capital return, approved 28 May and paid 11 June 2026, is not a dividend for tax purposes. Qualifying holders may treat any gain as a discount capital gain. Resolves the tax question.
21 May 2026director officer appointment● Neutral
Sonya Tissera replaced Michael Sapountzis as Company Secretary from 21 May 2026, following team reassignments at corporate secretarial provider Vistra. Administrative change.
20 Mar 2026director officer appointment● Neutral
Subaraj Subramaniam became Chief Financial Officer on 20 March 2026, replacing Linh Gigler, who resigned. No reason for the change is given.
18 Mar 2026annual report● Neutral
2025 annual report: restates the US$23.7M provisional 2025 payment, the proposed 35 cent capital return and the settled US$6.03M Woodside claim, with refund rights to 2030. Nothing new beyond earlier announcements.
18 Mar 2026other● Neutral
Annual corporate governance statement and Appendix 4G for 2025, reporting against ASX governance recommendations. Compliance filing; no new company developments in the extract.
16 Mar 2026dividend declaration▲ Good
Formal notice of the proposed 35 cent per share cash return of capital: ex-date 2 June, record date 3 June, payment 11 June 2026. Needs shareholder approval on 28 May; ATO class ruling being sought. Funded from cash at bank.
16 Mar 2026capital raising announcement▲ GoodMajor
Woodside agreed a provisional 2025 contingent payment of US$23.7M, expected April 2026. FAR plans a 35 cent per share capital return (about A$32.3M), subject to approval at the 28 May 2026 AGM. Maximum future contingent payment becomes US$19.8M.
22 Dec 2025material agreement▼ BadMajor
FAR agreed with Woodside to settle the US$6,029,899 claim by paying it in full promptly, from funds already held back. Woodside will refund the amount if it recovers the costs from Senegal's ministry before 31 December 2030. Resolves the dispute.
25 Aug 2025half year report▼ Bad
Half-year to 30 June 2025 showed a loss of US$1.82M versus a US$40.8M profit a year earlier. The loss was mainly from adjusting the Woodside receivable for its US$6.03M claim. Net assets were US$40.2M.
2 July 2025regulatory community update▲ Good
The ATO published a class ruling confirming that the 8 cent capital return, approved 30 May and paid 12 June 2025, is not a dividend for tax purposes. Qualifying holders can treat any gain as a discount capital gain. Resolves the tax question raised earlier.
28 May 2025material agreement▼ BadMajor
Woodside has made a formal claim of US$6,029,899 against FAR, demanding payment within 14 days, after Senegal's ministry finally refused to allow certain costs. This turns the earlier potential indemnity into a real claim, within the US$6.8M cap. FAR disputes liability and reserves its rights.
28 Apr 2025dividend declaration▲ Good
Formal notice of the 8 cent per share cash return of capital: record date 5 June, payment 12 June 2025. Subject to shareholder approval on 30 May; ATO class ruling being applied for. Funded from cash at bank.
23 Apr 2025capital raising announcement▲ GoodMajor
Woodside will pay a provisional US$11.5M in May 2025, and FAR plans an 8 cent per share capital return (about A$7.4M), subject to approval at the 30 May AGM. Funds are held back for the possible Woodside indemnity claim, which FAR does not concede.
26 Mar 2025other● Neutral
Annual corporate governance statement and Appendix 4G for 2024, reporting against ASX governance recommendations. Compliance filing; no new company developments in the extract.
26 Mar 2025annual report● Neutral
2024 annual report: no employees beyond non-executive directors, office lease ended 31 January 2025, no buy-backs or capital returns in 2024. Restates the ~US$11.5M contingent payment estimate and the possible Woodside indemnity (cap US$6.8M). No acceptable offer yet for the payment.
24 Mar 2025material agreement▲ GoodMajor
FAR estimates the 2024 Woodside contingent payment at about US$11.5M, based on Woodside's 13.3 MMbbl 2024 entitlement production. This is the first annual tranche of the up-to-US$55M. Exact amount and timing depend on an ongoing volume reconciliation.
31 Jan 2025material agreement▼ BadMajor
Woodside flagged a possible indemnity claim against FAR after a Senegal ministry audit rejected some pre-2014 costs. FAR's exposure under the 2021 sale agreement is capped at US$6.8M, and claim notice must come by June 2025. No claim yet made.
18 Oct 2024quarterly activities report● NeutralMajor
September quarter: several offers for the Woodside payment were received, but the board judged them not attractive enough versus holding it. Sangomar reached 100,000 barrels a day nameplate capacity. Cash was US$2.0M.
26 Sept 2024director officer appointment● Neutral
Michael Sapountzis became company secretary and Linh Gigler CFO, replacing Claire Newstead-Sinclair, who resigned from both roles. Administrative change.
29 Aug 2024half year report▲ GoodMajor
Half-year to 30 June 2024 showed a profit of US$40.8M against a prior loss of US$2.9M. The text does not explain the cause in the extract. Net tangible assets were 47.19 cents per share (3.21 prior). Sale process for the Woodside payment is under way.
11 June 2024production update▲ GoodMajor
Woodside announced first oil from Sangomar in Senegal on 11 June 2024, on the mid-2024 target. Woodside expects to make the contingent payments to FAR as previously contemplated, up to US$55M.
31 May 2024other● Neutral
Chair's AGM address repeats known points: Gambia surrendered, Melbourne office closed, US$26.4M returned to shareholders in 2023, and the plan to sell the Woodside payment near first oil, with capital return considered if sold. No new announcements.
12 Apr 2024director officer appointment● Neutral
Andrew Lilley joined the board as non-executive director. Garth Campbell-Cowan resigned as executive director and CFO, and company secretary Claire Newstead-Sinclair became CFO. The board is now Chairman O'Connor, Kaye and Lilley.
1 Mar 2024other● Neutral
Annual corporate governance statement and Appendix 4G, reporting compliance with ASX governance recommendations for 2023. Compliance filing with no new company developments in the extract.
1 Mar 2024annual report● Neutral
2023 annual report: FAR made redundant its remaining employees, surrendered the Gambia blocks and closed that office. It bought back shares and paid the A$0.40 capital return. The board intends to sell the Woodside payment near first oil, and would consider returning capital if sold.
16 Feb 2024regulatory community update▲ GoodMajor
Senegal's tax authority accepted there was no capital gain on the 2021 sale to Woodside, so FAR no longer faces the roughly US$4M tax claim notified in November 2023. Resolves that open risk.
30 Jan 2024quarterly activities report▼ BadMajor
FAR gave notice to surrender its Gambia Blocks A2/A5 (effective 17 Feb 2024) after remarketing found no partner, ending that thread. Gneiss Energy was appointed to prepare a sale of the up to US$55M Woodside payment. Cash was US$2.9M.
27 Nov 2023regulatory community update▼ BadMajor
The Senegal tax authority has issued a notice with a capital gains tax claim of about US$4M on FAR's 2021 sale to Woodside. FAR would likely have to indemnify Woodside and plans to object. Its liability is uncertain, and the notice is unexpected since the sale agreement had been stamped as tax exempt.
20 Sept 2023regulatory community update▲ Good
The ATO published a class ruling confirming no part of the 40 cent capital return (approved 18 Aug, paid 31 Aug 2023) is a dividend. Qualifying holders may treat gains as discount capital gains. Resolves the tax question raised in June.
