** Shares of Far Ltd FAR.AX rise 12.6% to A$0.49, their biggest intraday percent gain since February 16, 2024

** The oil and gas explorer says that Australia's no.1 independent oil and gas major Woodside Energy WDS.AX will make a provisional 2024 Contingent Payment of $11.5 million, as part of an agreement

** Payment expected to be received in May

** Co also flags that it also intends to seek approval for a proposed capital return to shareholders of 8 Australian cents per share

** YTD, shares down 7.6%

(Reporting by Nichiket Suni in Bengaluru)

((Nichiket.Sunil@thomsonreuters.com))