FAR LIMITED — Board/Management Information 2013

Apr 11, 2013

12 April 2013

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ASX ANNOUNCEMENT AND MEDIA RELEASE

Executive director appointment

FAR Limited (ASX: FAR) has appointed Mr Ben Clube as a director of the company, effective immediately.

Mr Clube was appointed Commercial Manager of FAR Limited in October 2012. With his 20 years of senior finance executive expertise in the upstream petroleum industry Ben will be a valuable addition to the board.

Mr Clube spent the majority of his career to date at BHP Petroleum and 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 will continue to report to the Managing Director, Cath Norman, in his executive role which takes responsibility for the 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 said, “Ben has made a significant contribution to FAR since his appointment as a FAR executive and will expand that role as a director of the company.

“At board level Ben will add strength at a time when we are anticipating growth through an increasingly active exploration programme and the expansion of our exploration portfolio. Together with Nic Limb, our Chairman, and the board of FAR, we wholeheartedly welcome Ben to the board”.

About FAR

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 recently completed a major joint venture deal with UK listed Cairn Energy Plc over its Senegal offshore leases in which Cairn will operate and carry FAR through an exploration well expected to be drilled in early 2014.

Under the terms of the farm in agreement Cairn is to acquire a 65% working interest and operatorship by fully funding 100% of the costs of an exploration well and testing to an investment cap of US$80 million. Cairn will pay FAR US$9.8 million for past costs incurred on the block. FAR will retain a 25% working interest.

FAR’s three contiguous Senegalese blocks – Rufisque, Sangomar and Sangomar Deep – covering 7,490km[2] , have significant exploration potential.

FAR has identified a number of play types and has mapped 11 potentially drillable prospects as well as numerous other leads.

20130412 - Appointment of Director (final draft)

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The Senegal blocks have combined prospective resources of 3.585 billion barrels of oil (unrisked best estimate, 100% basis).

FAR Limited 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 Limited’s East Africa offshore acreage have heightened interest in the region.

FAR also holds acreage surrounded by proven petroleum systems in Western Australia.

For further information, please contact

Melbourne Office Media Enquiries Cath Norman Ian Howarth Managing Director Collins Street Media Phone +61 3 9618 2550 Phone +61 3 9223 2465 www.far.com.au info@far.com.au

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