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
  -0.50p -0.60% 83.50p 83.00p 83.25p 85.00p 81.75p 85.00p 660,801 16:35:02
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 94.8 -61.5 -10.5 - 304.38

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Date Time Title Posts
29/6/201700:04FAROE PETROLEUM - Oil and Gas E&P in Norway, UK and Ireland156
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 (FPM) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2017-06-28 16:13:5983.4737,91931,649.73O
2017-06-28 16:13:5482.354,1433,411.79O
2017-06-28 16:13:5182.354,1433,411.79O
2017-06-28 16:10:2782.65156128.94O
2017-06-28 16:10:2782.66182150.44O
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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 84p.
Faroe Petroleum has a 4 week average price of 81.75p and a 12 week average price of 81.75p.
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 512,634 shares. The market capitalisation of Faroe Petroleum is £304,379,719.35.
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.” [...]
harry rags: I would have thought that with Delek upping their holding and a bid looking likely the share price could well reach 120p before a bid comes in as people buy in hoping for a quick profit ( it has been up to 115p without Delek) all IMHOHarry
the guardian: Mirabeau, just read your post on the HUR board. I was in IAE when it was bought out by Delek and there was no premium to the share price, even though the company was days away from oil production.
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.
ed 123: Looks like the position of the appraisal well will be about 1.7 km to the east of the discovery well. They should have a good understanding of the geology, so I do expect them to hit part of the reservoir. I suppose the questions are net pay and reservoir quality? The last presentation gave Brasse Extension as a planned but uncommitted proposition for drilling. Hoping the spud rns will mention Brasse extension as a follow-on well. Compared to the Brasse discovery well the extension block comes much closer to the Brage field. I like to think that suggests a strong likelihood of finding oil/gas. (But I do remember Boomerang!) The share price is doing what I thought it might .... heading back to 90p. After that? Probably depends on the outcome of the OPEC meeting, which starts (I think) on 25th May.
rogerlin: There is a bit of a change in Faroe going on at the moment. For years they have had modest production but delivered a good number of exploration drills, with some success but the good finds like Butch and Pil were not the elephants originally hoped for. They have kept the show on the road through the recent difficult times but this has been at the expense of dilution, the share price has not made any great progress over the years. Now since the Dong deal they are building up production, with the return of Njord production to look forward to later, and look a larger and more stable outfit, but there are risks in financing these ventures and with fewer drills in prospect, perhaps less excitement. Having said that Brasse looks a good one and Viking Queen and Esvagt Castor are down as long term fixtures for the appraisal drill, so that one not too far off.
harry rags: If Delek are expected to offer to buy out Faroe you would think that people would be climbing on board to get the premium instead the price is slowly slipping backwards.For me personally I think that second half of 2017 will see a 20% increase in the share price without a Delek bid. DYOR IMHO etc
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.)
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.
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. ;-/
Faroe Petroleum share price data is direct from the London Stock Exchange
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