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
  +3.75p +4.73% 83.00p 82.75p 83.25p 84.75p 81.75p 84.75p 1,738,549 15:19:05
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 94.8 -61.5 -10.5 - 302.56

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Date Time Title Posts
26/7/201715:08FAROE PETROLEUM - Oil and Gas E&P in Norway, UK and Ireland303
15/6/201716:51FAROE PETROLEUM - Big Exploration Acreage - Big upside?8,087
19/2/201510:51L2 - Observations, comments and screenshots1
15/8/201408:49BUY in Faroe Petroleum(FPM)1

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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 79.25p.
Faroe Petroleum has a 4 week average price of 74.50p and a 12 week average price of 74.50p.
The 1 year high share price is 115p while the 1 year low share price is currently 60.50p.
There are currently 364,526,610 shares in issue and the average daily traded volume is 2,284,933 shares. The market capitalisation of Faroe Petroleum is £303,468,402.83.
plentymorefish: Malcy's still keen: Faroe Petroleum Faroe continue to display exploration success which is the envy of the market place, over a long period of time they have regularly delivered and have done so again with this sidetrack well on Brasse. The result of the 31/7-2S well has been announced and as expected it has franked the form of the original discovery and volumes have been increased. Resource range has increased from 43-80 mmboe to 56-92 mmboe in high quality reservoir sands of high grade crude similar to that of the Brage field, with 18m of oil and 4m of gas. The result provides excellent field economics at low hydrocarbon prices and the development has fast track potential with both Brage and Oseberg fields only 13km away for tieback purposes. With this infrastructure advantage the company can realistically think of first oil in 2020/21 and at a higher rate of over 30/- boe/d the capex should come in at around the $550m currently anticipated. At a share price of 85p and a market cap of £303m this stock is ludicrously undervalued on any conceivable basis, the sector may be out of favour but be warned, it could go the way of Ithaca which at these prices would be a travesty.
ed 123: Hi Oli12. The Brasse result met my high expectations and the seller continues to drip shares into the market. Fwiw, my best guess is for the share price to track sideways from here. Although I could easily be wrong and end up trapped in a low performing share, I do think it likely that Delek will bid for Faroe one day. Sentiment towards oil stocks is low, so if there is a bid, I don't expect a big premium. Do I have a gloomy outlook? Yes, but it means I'm less likely to be disappointed.
ed 123: Yes, Hashertu, they should be extremely busy with the assets they already have. For me, they don't need another buy. There is a clear pathway (with their current assets and current funding) for them to grow organically from c. 20kboe/d to c. 40kboe/d. They also have a portfolio of exploration prospects, which could deliver a bonus for shareholders. As you imply, the fall in the share price here may be nothing more than a response to oil price movements? I'm happy to hold and follow progress.
ed 123: Hashertu. I don't know anything about any possible placing. I'm just 'scratching my head' to explain the drop in the share price. When the share price has recently touched a high of about 110p, why would they issue more shares at 70p? It would be giving away some of the value held by existing share holders. I hope it's not something they're considering. It would be wrong, imv. But, if the Board have been taking soundings, it could be behind the drop. Do you have any explanation for what's behind the selling down to 75p? (Edit: Looked back at my previous post and made a tweak to the sentence you quoted. I think it reads better now. Also, I should make clear that I'm not in a position to know anything and, even if I did, I certainly wouldn't write about it. Nope, I'm just trying to work out what's going on. In the fullness of time, I guess there'll be rns statements. Hope that makes my position clearer.) :-)
ed 123: Ta, Bountyhunter. :-) Yasrub. I would watch the share price movement, especially if supported by good volume. Total number of shares reported as sells is not something I focus on. There is always a counter party to a sell, ....... someone buys every share that's sold. In the absence of news, Faroe's share price is responding to movements in the oil price. Website has been updated to show FIL's 5.14%. A second appraisal of Brasse is a possibility for Autumn this year. A thorough appraisal (including testing) leads me to think that Faroe may sell part of its interest. That would reduce its development burden. I don't expect that till 2018, when hopefully the oil market is showing signs of tightening and the future curve is looking a little better. Goanna is a committed well (for Q4 2017). That was quick. Licence was only awarded in January 2017. Anyone know the size of the target? Back to the share performance today, quiet 78.0/78.5p.
bigdazzler: For me fpm is excellent value at the current share price. I shall be adding more it's just a case of when based on technical analysis and when I think the downward momentum has finished. All in good time my little beauties.
yasrub: Hi Ed I recently took an initial position in FPM after the Brasse DST. I found your above comments about Delek interesting and whilst I know Delek acquired Ithaca I have not followed closely enough to know how aggressive they were in achieving ie. POO price at the time. The potential take out prices all seem rightly potentially achievable and relevant but I wonder whether some are holding and in someways holding the FPM price up waiting for Delek's next move. Delek have just over 15% so their next move if they make one will be telling - but I suspect to buy any size within the market might be problematic so perhaps they will approach a holding institution ? My interest in FPM was trying to get the timing of buying correct (which has not been too clever at the moment !) as primarily the balance of explo/production is appealing to me - Delek would be an added bonus, but not entirely convinced it will beneficial if they make a move in the short term with current sentiment.
whites123: Zak Mir tips Faroe Petroleum shares to re-test 2017 highs 09:45 21 Jun 2017 Technical analyst Zak Mir is tipping the Faroe Petroleum plc (LON:FPM) share price to re-test its 2017 highs and head towards the 110p mark. “[Shares] hit as high as 100p by February but they’ve come back since then [but] it looks like we’re still in an uptrend from the beginning of last year,” explains Mir in the latest Proactive Investors Bulletin Board. “The floor of this channel [is] at 85p and really while we’re above that we should hopefully get a re-test of the best levels of this year-to-date up to £1.10.” [...]
rogerlin: IAE price had risen a long way already prior to the Delek bid, partly because of the Delek stake, FPM price has not done much lately and also FPM not over-borrowed, and so hopefully in a better position, but we are certainly at risk starting from here.
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.
Faroe Petroleum share price data is direct from the London Stock Exchange
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