BRIEF-FAR Ltd Signs Farm-Out Deal With Unit Of PETRONAS

Feb 26 (Reuters) - FAR Ltd:

* SIGNS FARM-OUT DEAL WITH UNIT OF PETROLIAM NASIONAL BERHAD TO ASSIGN 40% INTEREST IN BLOCKS A2 & A5 IN GAMBIA

* TO RETAIN A 40% INTEREST IN EACH OF LICENCES

* PETRONAS WILL FUND 80 PERCENT OF TOTAL WELL COSTS OF SAMO-1 EXPLORATION WELL UP TO A MAXIMUM TOTAL COST OF US$45.0 MILLION

* PETRONAS TO ALSO PAY OTHER CONSIDERATION TO FAR OF US$8.6 MILLION Source text for Eikon: Further company coverage: