Share Name Share Symbol Market Type Share ISIN Share Description
Faroe Petroleum 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
  +1.50p +1.46% 104.00p 104.00p 104.50p 104.00p 100.50p 100.50p 48,407.00 08:48:56
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 113.0 -122.3 -19.7 - 379.11

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Date Time Title Posts
18/1/201709:18FAROE PETROLEUM - Big Exploration Acreage - Big upside?7,915.00
19/2/201510:51L2 - Observations, comments and screenshots1.00
15/8/201407:49BUY in Faroe Petroleum(FPM)1.00
03/7/201407:56Malcolm Graham-Wood , Oil Analysis, discusses Faroe Petroleum PLC live on TipTV-

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Faroe Petroleum Daily Update: Faroe Petroleum is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker FPM. The last closing price for Faroe Petroleum was 102.50p.
Faroe Petroleum has a 4 week average price of 101.79p and a 12 week average price of 87.44p.
The 1 year high share price is 108.25p while the 1 year low share price is currently 42.50p.
There are currently 364,526,610 shares in issue and the average daily traded volume is 1,590,727 shares. The market capitalisation of Faroe Petroleum is £379,107,674.40.
cwa1: Purely in the vein of FWIW:- 18 Jan 17 Faroe Petroleum PLC Cantor Fitzgerald Hold 104.00 100.00 100.00 Downgrades Haven't seen the actual update, so no idea of what cataclysmic event caused the downgrade(possibly just recent relative share price outperformance?) and reduction in target price by a whole 4 new pence-but there it is anyway.
rogerlin: PMG website has a bit called "our investments", says 3,888,072 shares (1.83%), acquired in Dec 2007 and also rights issue of May 2010. That was 0.66 for each share held at 100p. We have at last got back to that rights issue price but the earlier purchase will still be under water (the placing of Nov/Dec 2007 was at 147p if that was where they came from). Although KNOC/Dana's holding had reduced percentagewise in recent years IMHO it is good to be rid of it because there was always a risk of a low ball takeover, with Delek taking the stake and the share price strengthening anyway that doesn't seem an issue any more.
ed 123: Yes, we live in hope, Harry. If they moved to a full listing it would have a positive impact on the share price, imo. Could see 100p(?) if fully listed. Management are doing ok, imo, and were lucky in raising funds ahead of the fall in the oil price. They don't seem to have an exit strategy, though - though, to be fair, it is more difficult these days. Ta, Rogerlin. :-)
rogerlin: This version lists the Njord partners. Pil is 30% VNG, Spike 30%, Pure 15%, FPM 25%. Spike and Pure are I think now merged into Point. These partnerships don't fit together very well, but they seem to manage these matters OK in Norway.
ed 123: You may be right, Rogerlin. :-) Good to see the share price being supported above 70p at last. I'd say it's got some catching up to do. If (not certain, of course) OPEC and Russia agree in November we could go back above 100p. The Dong asset purchase now looks well timed. Also, whether by plan or luck, the two last raisings look to have been done at good points. With tax losses available, a rise in the oil price will ramp up cash flow quickly and allow Faroe to hang onto more of its 2P and 2C through development and into production. The ducks could be lining up for Faroe, including a speedy Brasse development (which would be transformational).
rogerlin: The permit for 6407/7-9 A never seemed to appear on the list either for that matter. It looks as if 6407/7-9 B is for a separate prospect NF3 and so why should they not drill that, unless the results of S and A are completely disappointing which seems unlikely given the time taken to date? All very hopeful IMHO but Statoil are not very forthcoming are they! Given that FPM have only 7.5% and Njord A is out of action I don't suppose we can expect any great leap in the share price, but it will all add up in the end.
ed 123: Looks to be heading down to the placing price - presumably as future recipients offload some current shares to make a quick margin. The share price had been heading up until yesterday, when the word would have gone out about the placing. So, any buyers in the market yesterday (not me, thankfully) got mugged. Yes, the 5M sterling/euro(?) amount is minimal. Hope it will be exclusively aimed at private shareholders, but that has not so far been stated. I had a good moan at the directors the last time about these private placings. I told them the fund raisings should be via rights issues or open offers to all existing shareholders. Of course, they had their reasons, but it's all very cosy. At least this time we will get some sort of chance at the 70p offer price. Without the placing I suspect yesterday would have been another up day. This morning, without the placing, my holding might have been worth 80-85p per share. Instead, it's worth 72p per share. My paper loss is a gain for someone in the circle. That's how existing private investors have been shafted.
ed 123: Thanks, CWA1. I would have missed that. Thanks, Wbodger. Good info. Notwithstanding Faroe's cash in the bank, I knew they did not have enough funds to pursue everything they were into (and that excludes Perth/Lowlander/Dolphin - which thankfully appears to have been kicked out into the very long grass). I spoke at the agm about the changed climate for small oil companies and I suggested Faroe should put itself up for sale to test the market (ie. no commitment to sell if price was poor). Soon, with today's announcement, there will be around a third more shares issued, so it will be even harder to move the share price north. I know Dana/KNOC will be unhappy with this. I guess the other big holders have nodded it through and will take up some of the new shares and sleepwalk towards the next discovery/placing iteration. So, I guess the new production will be sufficient give Faroe maybe $22M post-tax cash per annum. There would be three years of that before the accelerated spend on developing Brasse steps up, so Faroe has an extra $66M to put towards a gross Brasse development cost of say $600M (net cost $300M to Faroe)? Once the heavy costs of Brasse development come in, Faroe would be able to set off the Brasse costs against its production income. Two years of Faroe gross income plus some of its cash could pay for the development of Brasse (but only if they don't go off on another adventure). Soon after Brasse comes online, Njord A should open up again (another 6kboe/d to Faroe). So, at the end of 2019 Faroe should be producing 16kboe/day (existing and Dong assests) + 6kboe/day(Njord A) + 35kboe/day(Brasse) = 57kboe/day. At a $30/barrel margin, that would equate to about $130M post-tax income per annum. Assuming 370M shares in issue at that time, earnings might be 35 cents/annum or 27p per annum. Market value? 5 times earnings? Share price 135p? This assumes that the oil price stays at about $50/bbl. If the oil price moves to $60/bbl in 2019, then the share price target would rise (180p?). There is execution risk, though. I just hope I live long enough to get a good return on my Faroe investment. ;-/
jasper2712: I would have thought that with a discovery of 80m boe (net 40m to Faroe)that the share price would have moved more significantly than the 6.25p since the announcement of the upgrade. I can remember when Rockhopper discovered 300m their share price went from 30p to 300p and they had a lot more shares in circulation.
ed 123: Norwegian government approves the Oseberg Vestflanken2 development. In the context of NjordA, the interesting thing for me is the stated reduction of 30% in the break-even price. Unfortunately, I don't know what the previous break-even price was. Does anyone know what oil price is or was needed at OV2 for breakeven? The scale of OV2 is very roughly (smaller oil reserves but needs more development drilling?) similar to NjordA. It might give a clue as to the break-even oil price for NjordA? Good to be holding a share that should be unaffected by Brexit, if it happens. Actually, Faroe's earnings in Sterling terms might rise. Brexit worth a couple of pence onto Faroe's share price? ..... But, most likely, it'll head down with everything else!
Faroe Petroleum share price data is direct from the London Stock Exchange
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