FAR LIMITED — Board/Management Information 2012

Sep 9, 2012

10 September 2012

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ASX ANNOUNCEMENT AND MEDIA RELEASE

Senior Executive Appointment

FAR Limited (ASX: FAR) today announces the appointment of Mr. Ben Clube as Commercial Manager commencing in October 2012.

With over 20 years of experience Mr. Clube brings senior finance executive expertise in the upstream petroleum industry. He has extensive experience in joint venture management, government relations, operations, project evaluation, mergers and acquisitions, crude oil and gas marketing, contracts and tenders, strategic planning, equity and debt financing, capital markets, investor relations, corporate governance, and all facets of financial and business reporting.

Mr. Clube has spent the majority of his career at BHP Petroleum and held roles across the full life cycle of exploration, development and operations. As Vice President of Finance and Planning in London, Houston and Perth; he was accountable for the management of the finance, accounting and economic evaluation functions and held various directorships of BHP companies. Subsequently Mr. Clube has been Finance Director and Company Secretary of Oilex Ltd, an Australian and AIM listed petroleum company.

Mr. Clube has extensive experience capturing and implementing projects in the international arena. He has had major roles in the evaluation, negotiations, joint venture and government relations in projects in Algeria, Pakistan, Egypt, India, Indonesia, Middle East, Gulf of Mexico, Australia, North Sea and South America.

Mr. Clube holds a Bachelor of Science (Honours) degree in Geology from the University of Edinburgh. He is an associate of the Institute of Chartered Accountants of England and Wales, a member of the Australian Institute of Company Directors and a member of the Association of International Petroleum Negotiators.

In his new role, reporting to the Managing Director, Mr. Clube will be responsible for management of joint venture operations, commercial evaluation, merger and acquisitions, business development, business reporting and co-ordination of finance and corporate governance.

FAR’s Managing Director Cath Norman commented that "we are very pleased to have a senior executive of Ben's calibre join FAR. We believe his experience will add much value in meeting the Company’s growth objectives. I look forward to the strong contribution that he will make to the business."

About FAR Ltd

FAR Limited (ASX:FAR) is an independent oil and gas explorer with high impact assets in East and West Africa. FAR's acquisition of Flow Energy in November 2011 strengthened its African focus, giving it entry to the fast emerging oil and gas province of Kenya, East Africa.

In West Africa, FAR holds a dominant position with high impact prospects in Senegal, Guinea Bissau and the AGC Profond.

FAR Ltd will focus its near-term efforts on the highly prospective margins of West and East Africa.

Recent takeover activity and new drilling and major natural gas discoveries in areas close to FAR Ltd’s East Africa offshore acreage have heightened interest in the region.

FAR also holds a large portfolio of frontier exploration acreage, with considerable prospectivity in Southern Jamaica and holds acreage surrounded by proven petroleum systems in Western Australia.