A surprise $210 million takeover approach for oil explorer FAR from little known private investment firm Remus Horizons appears to have thrown a spanner in the works of Woodside Petroleum’s plans to buy its junior partner out of its $US4.2 billion ($5.5 billion) oil project in Senegal.

FAR said the non-binding proposal from Remus at 2.1¢ cash per share is conditional on it rescheduling its shareholder meeting to vote on the sale of its almost 14 per cent stake in Sangomar from December 21.