Far Ltd has set a deadline for takeover proposals to turn in to firm offers after revealing it will no longer delay a planned shareholder meeting to complete the sale of its interest in Senegal’s offshore Sangomar oilfield development to operator Woodside Petroleum.

Far is currently the subject of a A$220 million (US$171 million) takeover proposal from Russia’s Lukoil, while private investment fund Remus Horizons had earlier indicated it was considering launching a A$209.6 million takeover offer for the Australian junior.