FAR Ltd., Melbourne, has ejected Cathy Norman from her role as managing director. FAR’s independent chairman, Patrick O’Connor, will oversee the company’s business during a period of transition.
Norman had been managing director since November 2011 and oversaw much of the company’s original success offshore West Africa, including the Sangomar oil discovery off Senegal.
The termination comes after a turbulent 2 years of financial strife for the company during which it was forced to sell its interests offshore Sengal to Woodside Petroleum.
Norman, a geophysicist by training, will remain available during a 12-month period to assist in transitional matters.
FAR still holds a portfolio of exploration licenses offshore The Gambia and Guinea-Bissau and has a contingent payment due from Woodside for anticipated oil production from the Sangomar project.