FAR takes digital option

OIL junior First Australian Resources NL, which has focused on searching for oil in Texas and Louisiana, has turned to the Internet with a US$3 million investment in electronic technology.

FAR has purchased 10 per cent equity in a project to develop a new generation of Internet search engine technology dubbed Humanot.com.

FAR company secretary Lorraine Pini said the sophisticated concept, the brainchild of a group of Californian physicists and scientists, provided quick access to information via a customised, intelligent and interactive natural language interface.

Ms Pini said the plan was to position the new technology as the ultimate interactive tool that “rises above the competition and knows no peer”.

FAR also intends to enter into a 50/50 joint venture to establish and operate Humanot.com in Australasia.

The company is negotiating to acquire a minority interest in companies that are planning to lay fibre optic cable to create a global grid undersea network.