FAR (ASX:FAR) said it expects to receive a provisional 2024 contingent payment of $11.5 million from Woodside Energy Group (ASX:WDS) in May, relating to FAR's sale of its interest in the Senegal-based Rufisque, Sangomar, and Sangomar Deep project, according to a Wednesday filing with the Australian bourse.
The final amount may change, with either party required to settle any difference after oil entitlement reconciliation with partners and the Senegalese government, the filing said.
The company also said a potential $6.8 million claim from Woodside remains under review, for which it does not admit liability but is retaining funds as a precaution, the filing added.
FAR plans to return about AU$7.4 million to shareholders via a proposed AU$0.08 per share capital return, subject to shareholder approval.
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