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FPM Faroe Petrol.

160.40
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Faroe Petrol. LSE:FPM London Ordinary Share GB0033032904 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 160.40 160.00 160.40 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Faroe Petroleum Share Discussion Threads

Showing 8301 to 8322 of 11025 messages
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DateSubjectAuthorDiscuss
19/8/2016
22:04
NPD figures for production by individual fields has now been posted to end of June. FPM entitlement from Brage, Ringhorne East, Njord and Hyme will be down by 300,000 barrels in H1-2016. (There was a trickle of oil registered for Njord and Hyme in June, possibly a late data entry.)

Blane produced nothing in June (last year there was a nil-month in July so it is possibly a maintenance issue).

Enoch was back up in May, although the amounts there are very small. NPD says "It is planned to cease production from the field by the end of 2016." (Not sure why it's being shut down? Anyway the Production Licence only goes to Feb 2018.)

It now looks like a formality to complete the DONG transaction so I have estimated production from the four fields (Tambar and Tambar East are reported under Tambar). DONG's share of production is 1,714,000 barrels, about 9.4 kboepd for the half-year. Faroe's Norway production without the DONG deal would have been just under a million barrels, or 5.4 kboepd.

DYOR.

wbodger
17/8/2016
10:39
No, First Energy's 2017 figures won't include the return of Njord because that facility is not due to come back on line until 2019 (assuming no delays).

When Njord A shutdown was planned the loss of production was about 3kboe/d net to Faroe. When Njord A returns, I expect it to produce at about 6kboe/d. If Pil is linked up, then that 6 would rise to maybe 15kboe/d. Add in 15% of Butch. Then add in a relatively low hook up cost for Brasse and another 20(?) kboe/d net to Faroe comes in.

So, Faroe could grow to c. 50kboe/d by 2020. From the 2016 estimate of about 7kboe/d, that's rapid growth.

The question is, how can they fund their share of these development projects?

Imv, they need to cut back significantly on exploration. They already have large enough discovered resources.

My hope is that their developments can be phased so that cashflow from one pays their share of the next. However, apart from Brasse, timing will not be of their making.

ed 123
17/8/2016
07:32
Presumably that production estimate includes the return of Njord Future, about which there are still uncertainties.
rogerlin
16/8/2016
07:23
At last the spud announcement. Was beginning to think the rig had rusted away.
rogerlin
15/8/2016
12:30
Love the charts. look likes my buy the other day based on the charts was great timing.
bigdazzler
15/8/2016
12:29
Looking strong on level 2. Should go higher, imo.

(I'm sounding like a ramper .... but it's been a long wait.)

As ever, no advice intended.

ed 123
15/8/2016
08:07
It's gone. Now 70.5/71.0p.

Brent crude continues its recovery from the low of c. $42 at the end of July. The placing shares have hopefully found longer term homes. Brasse is a big and high value barrel find for Faroe. All factors which should move the share price higher.

Sector looks stronger of late.

ed 123
15/8/2016
07:52
Last call for anyone wanting some at the 70p placing price?

69.5/70.0p in the market.

ed 123
12/8/2016
07:33
Two tugs down to Statoil to "tow Njord A".
rogerlin
11/8/2016
09:11
Thanks for reminding me, I couldn't remember where I read about Polecat and Marten. It certainly was ATL.

ATLA .NOK have not put out a Mandatory Notification about Polecat/Marten on Oslo Bors, although they did put one out when they sold their interest in Orlando on June 6, 2016. It looks as if they will negotiate an exit from Perth, probably also for a a nominal price, and it will be between FPM and PMG(DEO) to apportion the 13.35%.

wbodger
11/8/2016
07:31
These stakes in Marten and Polecat evidently come from Atlantic. Atlantic had 13% of Perth, what has happened to that? I wonder if PMG would like to buy out Faroe's stake in Perth/Lowlander, that would be an excellent idea in my opinion.
rogerlin
11/8/2016
06:13
Sorry wbodger, age related dysfunction.
spacecake
10/8/2016
17:45
Parkmead doubles stake in North Sea field duo
hxxp://www.offshoreenergytoday.com/parkmead-doubles-stake-in-north-sea-field-duo/

wbodger
10/8/2016
14:17
Baltic (#7708)? Please tell me that's a typo ... I hope you meant Barents.

Just going back to that Barents discussion, rogerlin mentioned Lundin in support of Barents exploration. Lundin is interesting, they have been very successful with a policy of relatively shallow water drilling, often in mature parts of the NCS. Not a bad strategy, which produced what are now Edvard Grieg and Johan Sverdrup. Maybe their remarks were following their success at Gohta and the Alta campaign in the Barents: Gohta/Alta look the most promising finds up there since Skrugard.

If commercial oil is found in the Barents it might not be too difficult to get it to market with FPSO/tanker, although it would be helpful to be in partnership with Statoil who were researching a pipeline and onshore storage facility for their Skrugard/Havis oil. Statoil's stake in Lundin is now 20%.

Dazzler must be a prior commitment and like Ed123 (#7697) I hope FPM have made the decision to fulfill commitments and leave asap. I wouldn't be surprised if ENI thought the same. I really think even (especially?) an elephant find up there would be a major headache for Faroe shareholders. Petoro and Bayerngas are the other partners.

wbodger
10/8/2016
06:15
Interesting... It’s a huge cost, so Statoil took another look. “We started using a risk-based approach,” says Karlsen

Nice to see they are STARTING to incorporate risk !!

spacecake
09/8/2016
19:45
Spacecake, yes Lagavulin and North Uist were a low point. N. Uist actually took a whole year as I recall.

Looking back I see that Kvalross actually only took from 12.01.16 to 24.02.16 and so hopefully Dazzler won't take too long. It is admittedly a long way from anywhere, 90 km north of Skrugard and Havis. Statoil are still thinking about that but ENI have 30% and are heavily committed at Goliat further south. I am sure these big companies are there for the long haul. If there is a decent find at Dazzler then surely Faroe could sell out if the development is too much risk.

rogerlin
09/8/2016
19:03
rogerlin, don't forget N.Uist :-), Basalt dreams etc.
Could the Baltic be the next wild goose chase for FPM ?

spacecake
09/8/2016
18:20
Count me in. Gone long on the old Faroe this morning.
bigdazzler
08/8/2016
19:06
Still no spud announcement on the Njord north flank, and it isn't yet on the NPD diagram of current wells, although the rig seems to be in the right place.
rogerlin
04/8/2016
07:20
Some ramblings .... no advice intended.

Looked like something of a support level, 65p. Turned up early doors, helped no doubt by oil's performance after UK close.

Brent crude for one year's time is currently priced at $47.2/bbl, compared to spot price of $42.5.

Reports suggest that the glut of oil is being worked through, so maybe we do get a gentle rise in the oil price going forward?

I remember Ithaca turning their back on exploration at a time when exploration was highly fashionable. It worked well for them. There is plently enough in what Faroe have already discovered to progress through development planning. Putting its cash flow to better use should be an aim, imo.

Looking at Faroe's assets and the apparent direction of travel of the oil price, I think I should hold here and let the passage of time show if I was right.

ed 123
02/8/2016
17:41
Europa comments on acreage adjacent to Corrib, similar to Faroe's new licence, looks like re-processing old seismic is the immediate plan for both companies.
rogerlin
02/8/2016
10:54
Rogerlin.

Yes, time has moved on. Faroe cannot succeed for its shareholders by following its old business model. These days, Faroe needs to generate value by increasing recovery from its production and by exploration success near facilities.

One example of the 'right' way is the Brasse find, which is huge for Faroe, being a big volume, easy development and with an already in place export route. These will be high value barrels.

Maybe Faroe now has the scale to self fund the development of its full share of Brasse? That would be excellent for shareholders.

Re: shareprice, talk of moving to a full listing has faded away, unfortunately. IMO, if they were to get a full list and pay a small dividend, the shares would re-rate ..... up say 20% ...... 80p? A move to the full list would also put an end to large private placings.

ed 123
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