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
  +0.75p +0.80% 94.25p 93.50p 94.25p 95.50p 93.75p 95.50p 72,984.00 09:42:59
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 113.0 -122.3 -19.7 - 343.57

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Date Time Title Posts
30/3/201708:09FAROE PETROLEUM - Big Exploration Acreage - Big upside?8,062.00
19/2/201510:51L2 - Observations, comments and screenshots1.00
15/8/201408:49BUY in Faroe Petroleum(FPM)1.00
03/7/201408:56Malcolm 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 93.50p.
Faroe Petroleum has a 4 week average price of - and a 12 week average price of -.
The 1 year high share price is - while the 1 year low share price is currently -.
There are currently 364,526,610 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Faroe Petroleum is £343,566,329.93.
ed 123: Yes, it's a big sum but the cashflows will be big too. I make it that at $50 oil it will take Faroe about two and a half years of cashflow from that development to pay back it's capital outlay. After that and after 78% tax I make it that Faroe will earn about 3.6p per share from that production. These fields will go into a natural decline but could last about 20 years. Faroe have said that they will use their debt facility to fund their share. About the time that Njord/Hyme/Bauge come online, there will be Brasse and Pil too. Oda should have come before that. When these fields are all producing, at $50 oil and after 78% tax, I make it that Faroe will earn about 29p per share. Might we see a share price of 200p? Delek wouldn't have bought 13% of Faroe without expecting a good return. They may double their money in 4 years? Anyone dis/agree? (No advice intended.)
jasper2712: Probably carrying bags of cement to plug and abandon going by the share price collapse in the last 2 weeks!
gary38: Hurricane Energy and EnQuest among the few 'buys' left in oil sector - MacquarieShare 11:33 03 Feb 2017"Hurricane offers 82%+ upside to our target price from the current share price, and has the clearest near-term tangible value creation opportunities, in our view.oil platformValuations in the oil sector have caught upIt is harder work picking winners in the oil and gas sector now that crude prices have steadied and share prices have climbed, so says Macquarie.Kate Sloan, analyst at Macquarie, most share prices are close to fair value and as a result many in the sector have been downgraded.Cairn Energy PLC (LON:CNE), Faroe Petroleum plc (LON:FPM), Ithaca Energy Plc (LON:IAE), Premier Oil PLC (LON:PMO) and Tullow Oil plc (LON:TLW) are all relegated to a 'neutral' rating.Three of Macquarie's 'top picks' retain their 'buy' recommendations; Hurricane Energy Plc (LON:HUR), EnQuest Plc (LON:ENQ) and Africa Oil Corp (TSE:AOI).Of the three, Hurricane Energy is deemed to have the clearest value opportunities."Hurricane offers 82%+ upside to our target price from the current share price, and has the clearest near-term tangible value creation opportunities, in our view."Further exploratory drilling (ongoing) and progress on the Lancaster development could add significant value, building on the success the company enjoyed in 2016."Macquarie has a 90p price target for Hurricane (current price: 51.25p).EnQuest, meanwhile, is Macquarie's pick for further oil price leverage combined with low risk project progression."Although the rest of the sector now reflects a much higher discounted oil price than it did four months ago, EnQuest is still discounting US$63/bbl, the same number it was back in August 2016," Sloan said."We believe the valuation gap will be narrowed in the coming months once the market starts to believe in Kraken delivery."Macquarie has a 79p target price for EnQuest (current price: 46.34p).Sloan added that Africa Oil's has very attractive upside through de-risking the discoveries in Kenya's South Lokichar basin, where it partners Tullow.
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. :-)
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: 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.
Faroe Petroleum share price data is direct from the London Stock Exchange
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