Baker McKenzie is acting for FAR Limited on the fully underwritten placement to institutional and sophisticated investors to raise AUD$80 million.

Baker McKenzie's lead partner on the transaction, Richard Lustig stated:

    We are delighted to act for our client, FAR Limited on what is a significant capital raising with strong support by both new and existing investors.

FAR Limited (ASX:FAR) is an independent, Africa focussed, Australian Securities Exchange listed, oil and gas exploration and development company with high value assets in West Africa, East Africa and Australia.

The proceeds will be used to fund FAR’s continued participation in the drilling, evaluation and pre-development program offshore Senegal, the anticipated acquisition and exploration of blocks in The Gambia, and general corporate purposes.

Richard was assisted by a Baker McKenzie team comprising: Andrew Reilly, Matthew Collins and Anna Kramer.

Credit Suisse is acting as Financial Adviser to FAR, and the Placement is being underwritten by Credit Suisse and RBC Capital Markets as Joint Lead Managers