Lukoil Proposal News Today

FAR has been advised by Lukoil that it will not be proceeding with its takeover bid for FAR. The FAR directors continue to support the Woodside sale.

Gas flaring in the country has been reduced to a very minimal level of 8%, due to programs put in place.

FAR Limited has received a conditional non-binding indicative proposal from Lukoil to acquire 100% of the shares of FAR at A2.2c cash per share. The Lukoil Proposal values FAR at A$220 million.