Petroleum Africa
Find us on: 
Friday, June 6, 2014
FAR Ltd. is looking to raise cash to undertake oil and gas exploration in Kenya. The company said it is looking to raise $8 million through a private placement. FAR is set to offload 200 million new ordinary shares to a select group of investors.
The company plans to use the proceeds from the placement to fund drilling offshore Lamu. “The placement is being undertaken to fund further exploration in offshore Kenya, potentially including accelerating the evaluation of the Miocene reef oil play offshore Kenya,” said Far Ltd in a statement.
The company’s MD, Cath Norman, commented, “Building our portfolio of opportunities for our shareholders is key to our strategy and we aim to deliver a high impact drilling program in Kenya following on from the current drilling program in offshore Senegal.”
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
