Fastnet Equity Share Price - FAST
|Share Name||Share Symbol||Market||Type||Share ISIN||Share Description|
|Fastnet Equity||LSE:FAST||London||Ordinary Share||GB00B85HRF56||ORD 3.8P|
|Price Change||Price Change %||Share Price||Bid Price||Offer Price||High Price||Low Price||Open Price||Shares Traded||Last Trade|
|Industry Sector||Turnover (m)||Profit (m)||EPS - Basic||PE Ratio||Market Cap (m)||RN||NRN|
|Oil & Gas Producers||0.0||-39.7||-11.5||-||7.68|
Fastnet Equity News, Charts, Forums & Trades
Fastnet Equity News
|30/9/2015||14:12||UKREG||Fastnet Equity PLC Result of Annual General Meeting|
|04/9/2015||08:39||ALNC||Fastnet Eyes Healthcare Industry Investment Opportunities|
|04/9/2015||06:20||ALNCF||Alliance News Flash Headline|
|04/9/2015||06:00||UKREG||Fastnet Equity PLC Final Results|
|28/8/2015||14:32||UKREG||Fastnet Oil & Gas PLC Result of General Meeting|
|11/8/2015||15:02||ALNC||Fastnet To Exit Oil & Gas To Become Healthcare Investment Company|
|11/8/2015||14:35||UKREG||Fastnet Oil & Gas PLC Proposed adoption of Investing Policy/Notice of GM|
|03/7/2015||14:22||UKREG||Fastnet Oil & Gas PLC Director/PDMR Shareholding|
|26/6/2015||13:45||UKREG||Fastnet Oil & Gas PLC Director/PDMR Shareholding|
|02/6/2015||13:27||UKREG||Fastnet Oil & Gas PLC Holding(s) in Company|
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|27/11/2015||18:42||Fastnet Equity Plc - Biopharma play||425|
|28/8/2015||17:19||Fastnet Oil & Gas||5,063|
|23/8/2015||14:26||Break of 5.5p could trigger intermediate rally to 7p for Fastnet Oil & Gas (FAST||2|
|13/8/2015||12:33||Fastnet - Short to Zero ? Disasterous Duster Driller||164|
|06/8/2009||22:55||FASTEST FINGER -- high speed trading||7|
Fastnet Equity Top Chat Posts
|flyingswan: This well should be Drilled now?
Operating Update Morocco
27 August 2014
Circle Oil Plc (AIM: COP), the international oil and gas exploration, development and production company, is pleased to announce the following operating update.
Sebou and Lalla Mimouna Permits
The third drilling campaign in the Sebou permit and first campaign in the Lalla Mimouna permit continue with the spud of the second well named CGD-12 to be drilled in the Sebou permit.
The 12 locations initially chosen for the campaign are targeting accumulations similar to the existing producing geological intervals in the Sebou permit. This second well will test a dipping fault bounded sand lens at 1,021 metres MD in the Guebbas Formation within which many of the previous discoveries have been successfully drilled.
Depending on progress rates the well is expected to take approximately 30 - 35 days to drill.
|cgod: Here it is in FULL. Fastnet Oil & Gas conserving cash as it looks for new assets 09 Jul 2015 There is no point in denying that the dry hole that AIM-listed Fastnet Oil & Gas (LON:FAST) experienced over year ago now, offshore Morocco, was a key turning point for the AIM–listed, Dublin based Junior. Its shares fell 42% on the day the duster was announced; and it was a severe blow for investors who had hoped the company’s Foum Assaka block in the Agadir Basin would deliver the same kind of huge rewards that the deep waters offshore Mozambique yielded for fellow AIM–listed darling Cove Energy, who shared some of the same advisers as Fastnet. The disappointing well led to a period of restructuring and consolidation for Fastnet. In December Carol Law, who had been chief operating officer (COO) of Anadarko East Africa, became chief executive officer (CEO), replacing Paul Griffiths and Cathal Friel became non-executive chairman. The emphasis has been on conserving cash and cutting costs. Under Law general and administration costs (G&A) have been almost halved and the company as of May 31 had a cash position of around US$16.2mln. Since the board room reshuffle Fastnet declined to exercise its option to farm into the Tendrara Lakbir licence onshore Morocco. Friel told Proactive Investor the company wanted to limit its financial exposure to a single well. “We did not want to sole risk ourselves on a well which would eat up a lot of our funds. Wells in Morocco are expensive,” he said. Fastnet is retaining its 12.5% interest in Foum Assaka, but unlike the first well, a second putative well will not be carried by partner Kosmos, so there will not by any more drilling by Fastnet in Morooco in 2015. The company’s other current assets are in the Celtic Sea, offshore Ireland. These have recently been re-jigged. Options over the Molly Malone and Mizzen licences in Celtic expired on May 31 and Fastnet submitted applications for new licencing options over portions of the original licencing options. This means there are now five interests: Mizzen East (100% gross interest and which covers 1,55km2), Ventry (100%, 996 km2), Deep Kinsale (60%, 285km2), Shanagarry (82.35%, 881km2) and Block 49/13 (85%, 272km2). This acreage is high-graded and thought to have good reserve potential based on proven petroleum systems, previous discoveries of gas heavy oil, light oil and technical evaluation. Farm-ins have been mentioned. However, Friel is keen not to raise expectations too high. He says: “There is no visibility in the oil price.” By this he means it has gone down by 50% and there is still a feeling that, although it has recovered somewhat, it will not get back up to really good levels for some months. “Until Tony O’ Reilly concludes a farm-in for Barryroe, do not expect too much activity for others involved in the Celtic Sea,” Friel adds. Tony O’Reilly is the CEO of Providence Resources, which made Ireland’s first commercial oil discovery in the Celtic Sea on the Barryoe licence. O’Reilly seems close to concluding a farm-in deal soon, but it has taken him a couple of years get to this point. Brokers to ascribe no value to either Fastnet’s Moroccan or Irish assets in the share price, pointing out it is underpinned by cash. Analyst John Frain, at Dublin based broker Davy, says: “The difference between Fastnet and companies in its peer group is that many of them are really strapped for cash and Fastnet is not. “There was talk not so long ago that Fastnet would be up for sale but that is no longer the case. “The company has cut costs, saved its money and is waiting for better times with the assets it has. The management also believes there distressed assets out there that it has the money to acquire.” At just 2.25p the shares for a market capitalisation of £8.1mln the company is actually selling at a 20% discount to the its the cash value. At some point, one suspects, investors will spot this anomaly.|
|sea7: aim companies do not only survive on news. The only thing that survives on news is an elevated share price. All companies survive on good business plans, positive cashflow and management capable of making the right decisions at the right time. If there is no news for some time and the share price suffers due to holders becoming bored, then so be it. I do not want to see rns's issued like confetti, just to prop up the share price. If there is a need to wait for some reason or another, prior to making the right move, then I would prefer cathal to wait, hold off taking people on and then do it at the right time. To many businesses go down because people are impatient and feel the need to "do something" when they should be waiting patiently. At this stage, we have time on our hands and a good margin of safety. We will hear something, when there is something to announce and not before, thankfully.|
|chimp999: Fastnet share price could possibly be influenced (imvho) sometime after 15th June as Tangiers Petroleum are due to spud TAO-1 on or around that date. Their TAO-1 well is located within a proven petroleum system, adjacent to the Cap Juby oil discovery. Tangiers Petroleum's Tarfaya Block is not too far in distance from our Foum Assaka Block Whether or not there is any geological link between the Fastnet and Tangier's Plays I have no idea...however the markets MAY react positively for Fastnet if TPET strike good quality oil. All imvho of course... I do not hold any Tangiers Petroleum shares and this is not a ramp for either company in anyway shape or form. I have however invested approx £23K of my hard earned readies into Fastnet, having worked hard bringing my average down :) The current value of my holding in Fastnet is down to around £13K , however I am personally comfortable that my long hours of research into Fastnet antd the BoD will pay handsomely by summer 2015, as as that is the end of the 3 year lifespan of Fastnet as stated by the BoD when Fastnet began on AIM in summer 2012. I have learned to be prepared to average down, no matter where you may think a share price has bottomed out. At one stage I was convinced that the Fastnet share price would not go much below 17 pence .......and then there was the 14 pence placing....then... we know what happened after that. GLA Chimp999 ( fast, panr, frx )|
|papillon: I remember MIMET. What a disaster that was!! Never held them myself, but I remember a guy telling me that it was the only share he ever bought and it was the last one!! MINMET put him off of shares for ever!! He bought right at the peak when the share price was circa 50p! After that it was downhill all the way! When the bubble burst it went from 50p towards zero in what seemed no time at all!
Jeremy Metcalfe was the top man at MINMET and he promoted his company endlessly as did a certain tipster called Michael Walters!!
Here's a sensible post from 15 years ago warning the bulls that MINMET was a over hyped, over ramped stock.
"Here here, Minmet Plc is a really overvalued ramp if ever I saw one, a total media hype firstly by Square Mile and then by Michael Walters himself, ok MW says he believes in MNT, but he is not a mining analyst, nor an INDEPENDENT SOURCE, he owns shares in Minmet Plc.
The current share price and market cap of £ 150m bears ABSOLUTELY NO RESEMBLANCE to any realistically achievable results from a 5,000 metre PRELIMINARY drilling programme in Cuiaba Basin Brazil.
Please note MW has always says he owns shares in Minmet Plc, you should be looking at the price he bought them at, and the option prices excerciseable by the Minmet Plc board and when they can excercise them."
If you read the replies to that post from the MINMET bulls at the time you can see it got an awful lot of stick! Bulls never, ever, learn!
|cgod: Fastnet Oil & Gas optimistic for a Celtic Sea farm-out this year By Jamie Ashcroft, May 22 2014 Fastnet Oil & Gas (LON:FAST) is increasingly optimistic of a successful farm-out of its Celtic Sea acreage later this year. The company said it has been making "very good" progress with the farm-out process, helped by the new 3D seismic data and a successful industry event hosted in Dublin recently. "Last summer when we tried initially to farm out our Celtic Sea assets we were running that process with only the old legacy 2D seismic data. Now, with our new state of the art 3D seismic completed, the level of farm out interest has improved substantially," the company told investors. Last month's Celtic Sea conference in Dublin, organised partly by Fastnet, was attended by over 300 people including representatives from more than 20 international oil and gas companies. The event highlighted a resurgence in the level of industry interest, Fastnet said. The company expects any farm-out deal would see it recoup a portion of back costs, which total US$20mln. Fastnet's management team is in London today meeting investors. In a separate, stock market statement, Fastnet highlighted its current cash balance of US$22mln, which leaves it fully funded for planned work programmes in Ireland and Morocco. Managing director Paul Griffiths said: "In challenging times for the oil and gas sector we are satisfied that Fastnet is prudently managing its cash resources whilst still creating momentum in developing its portfolio of offshore and onshore assets to a stage where drilling can occur. "We will pursue our strategy of reducing our financial exposure to drilling through a tried and tested farmout process on the basis that exposure to sustained drilling activity offers the best opportunity to create substantial value through the drill bit." Focussing on its assets in Morocco, Fastnet described the FA-1 well, which did not find hydrocarbon in commercial volumes, as a "range finder" and told investors its participation in the well cost the company less than US$2.75mln, due to a farm-out deal struck prior to drilling. The findings of FA-1 and Cairn Energy's nearby Foum Draa well, which also disappointed, allow future exploration to focus better on the main reservoir fairways in the region. Fastnet said in-house, post well studies are encouraging for continued evaluation of the hydrocarbon prospectivity of the block. It added that the Early Cretaceous remains an important target in the Foum Assaka area, and that management believes all aspects of the petroleum system have now been de-risked except reservoir thickness and quality. "The FA-1 well represented a high risk - high reward drilling opportunity that was executed with minimal financial risk to Fastnet shareholders through a prudent and successful farm-out process," Griffiths said. "Whilst high risk - high reward drilling opportunities continue to be developed in Foum Assaka following FA-1, the remainder of the portfolio, which contains much lower risk but equally high reward multiple prospects, continues to be matured ready for drilling." The company, under the terms of its farm-out deal with SK, would be 'carried' up to US$100mln for a second well within Foum Assaka. Fastnet, meanwhile, is also now preparing to select a well location for a programme at the Tendrara project, onshore Morocco. To facilitate this decision the company expects the reprocessing of data will be completed in the coming weeks. Cantor Fitzgerald analyst Sam Wahab today said Fastnet shares were 'oversold' after the FA-1 result, as he repeated a 'buy' recommendation and a 19p price target. "We remain of the view that the company's shares were oversold following the disappointment at FA-1, especially given that Fastnet were carried on the drilling costs," the analyst said in a note. "The company is well funded with a $22m (4p/share) cash balance and a further carry offshore Morocco. Taken alongside attractive acreage onshore Morocco and offshore Ireland, ripe for farm-out transactions, we view the current share price as a compelling entry point for investors into a well-diversified (both geographically and in terms of geological risk appetite) E&P play."|
|cgod: Fastnet Oil & Gas goes for easy wins in Morocco By Jamie Ashcroft, July 03 2014 . A farm-out deal in the coming months and "easy wins" onshore Morocco could help re-ignite enthusiasm for AIM-quoted Fastnet (LON:FAST). Fastnet shares slumped in May after a hotly anticipated, frontier exploration well offshore Morocco encountered oil and gas shows but not commercial volumes of hydrocarbons. For some time the naturally high risk offshore venture was the main attraction for investors, but, according to Will Holland, Fastnet's recently appointed chief financial officer, the potential of the onshore acreage will soon become apparent. Tendrara, the asset in question, is a very much overlooked part of the Fastnet portfolio, the CFO says. And crucially, Holland points out that onshore the emphasis is on appraisal and development rather than exploration. "The appraisal aspect of the company has been widely overlooked. We've historically been known as an explorer – and we do have very good exploration prospects both offshore Morocco and offshore Ireland. But, for me, coming from a finance background, one of the things I would do as a mezzanine lender, was look for companies that had a discovery element to them, that needed to be appraised to unlock value. And that is what I think we've got here." Tendrara is very large, at around 14,500 square kilometres, and it already a hosts a known discovery within the block. "The [known] field is about 300 bn cubic feet of gas on a P50 basis and we think it could be as big as 900bcf. So, we are looking to appraise and develop that field." By drilling a couple of wells on the property, Fastnet intends to fundamentally prove that commercial rates can be achieved from the field. It is to dispel doubts created by technical problems with a well drilled by another operator, prior to Fastnet's involvement. Holland says that there will be some "easy wins" for Fastnet in this regard. "The [previous] well was drilled very badly. If you're looking for operational excellence, that really didn't occur. Drilling with the right weight mud, completing the wells properly, using the correct perforation charge - none of this was done previously. If we can prove we can produce 5mln cubic feet of gas from the asset per day, and we're very confident that we can, then we will have suddenly opened what could become a 1tcf gas field. And that is one field in a block which has got many other prospects." An appraisal well is scheduled for the fourth quarter of this year, and depending upon results could be followed by second well shortly thereafter. Offshore the company remains upbeat on the prospectivity, as it recognises that multiple 'range finder' wells needed as the exploration frontier is de-risked. Indeed, more wells will go down in the coming weeks and months – work recently began on the Galp Energia operated TAO well, which involves fellow exploration junior Tangiers (LON:TPL). In the meantime, another significant share price catalyst seems to be brewing nearer to home. Negotiations to bring in a partner into Fastnet's Celtic Sea project's, off Ireland's Cork coast, have been ongoing for some time, and the recent completion of 3D seismic looks to have expedited this process. Fastnet's is one in a number of farm-outs currently in the works for prospects in the Celtic Sea and the company has seen significant interest from a number of interested parties, according to Holland. He says Fastnet is now confident of securing a deal within the next three to six months. Perhaps investors can read director Carol Law's recent share purchases – she bought 1mln shares earlier this month for around US$100,000 - as an indicator of the confidence within the group. Before joining Fastnet, Law was an exploration manager for Anadarko Petroleum, the major international E&P, and she is understood to be the hand steering the farm-in negotiations. Holland says Law is very skilled in farming down these kinds of assets, as he explains: "She knows what the majors are looking for, and she knows how we need to bring it all together."|
|oilbuy: Let's see what happens with the Dunquinn drill. Will the FAST share price move either direction based on that result. Of course it will !!!!|
|sea7: jacksonpollack, I like to buy shares that are trading at a nice discount to the net current asset value per share. In this case the NCAV figure is 2.8p per share. Fastnet is just over 20% below its NCAV per share. This give us a very good margin of safety to play with. I currently have a 10% margin of safety against the 2.8p NCAV on my average. The net current asset value is the liquidation value as we know and if cathal decided to liquidate fastnet, 2.8p per share is what we would get. My only risk here is what investment decision cathal takes with the cash balance. Unless you really need the cash, then there is very little downside at this price and plenty of upside to be had, if you are patient and believe that cathal will execute his plan correctly. I am only planning on making one more purchase and then leaving it to sit, quietly, whilst I await news. I should have an average of around 2.4p after my next purchase, which will increase my margin of safety, thus reducing my downside risk further, with a modest increase in position size. With regards to chasing the share price, I am following it down and buying at targeted levels, as it sinks further due to boredom sellers and general drift due to lack of activity. When news comes, I will be able to decide whether to sell prior to any RTO suspension or hold all the way through and exit at some point afterwards. Sure, there is the risk that cathal will buy a lemon that comes to market and collapses straight away, at which point I would be trying to salvage what I can, which is why this is the smallest holding I have anywhere. Originally, my plan when buying fastnet oil and gas, was to buy, in periods of no news, then sell on the run up to drilling or during drilling and definitely be out before target depth, however the plan has changed, so has my strategy on this.|
|papillon: simonparker5, I remember the founder, Finian O’Sullivan, of Bayfield Energy (BEH) spending hundreds of thousands of pounds back in 2012 buying BEH shares at around 50p per share. Within a year BEH were almost skint and the share price was around 13p!! They had to be bailed out via an RTO which priced the BEH shares at the equivalent of 12p. Now that company, TRIN, is almost skint!! PS. Finian O’Sullivan is a very rich man and the founder of the extremely successful Burren Energy. BEH proves that very rich men DON'T always make the RIGHT investment decisions!! They too can fall in love with their creations, just like PI's fall in love with shares. What I will say about FAST is they are not going skint anytime soon. The share price trades at a discount to their cash. That's why I'm invested in FAST|
Fastnet Equity Most Recent Trade
|Trade Type||Trade Size||Trade Price||Trade Date||Trade Time||Currency|
|O||200,000||2.23||27 Nov 2015||17:08:15||GBX|