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
  +0.00p +0.00% 75.50p 75.00p 75.50p - - - 0 06:30:09
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 94.8 -61.5 -10.5 - 275.22

Faroe Petroleum Share Discussion Threads

Showing 8901 to 8925 of 8925 messages
Chat Pages: 357  356  355  354  353  352  351  350  349  348  347  346  Older
DateSubjectAuthorDiscuss
23/7/2017
13:22
looking at the 1 year view FPM does appear to be realigning with the oil price: I think we need some positive news flow to lift us up again; maybe next week?
bountyhunter
22/7/2017
19:12
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
22/7/2017
18:33
Ed. If you compare share price chart of FPM with Enquest (you can probably think of another more appropriate example (such as IAE which is no longer valid)), you will see that the FPM change is much less extreme. I also note that development, production, appraisal and exploration capex is covered by cash/borrowing. So a purchase might be an explanation, but think they want to digest DONG and the new discoveries before embarking on that trail again.
hashertu
22/7/2017
15:20
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
22/7/2017
15:01
"For the possible 4th, I'm thinking there's likely been major corporate moves under discussion recently, possibly something has been decided? There are several variations of moves that may have happened. It's possible that there's to be a private placing at around 70p ...." Ed. What leads you to think this?
hashertu
22/7/2017
13:27
Spot on comments Ed the intrigue has heightened. The current situation in someways makes your revisit information that is available. Whilst it causes some unease that the share price drifts, recent news and the financial flexibility of the company gives me comfort - the oil price currently seems secondary to what seems to be going on. I doubt management are happy with Delek holding approximately 15% and perhaps they have identified a target where a fund raise is required, but surely if so Delek could respond in kind. It does seem one or may be more institution are prepared to sell at this level. At this point I can only assume it is sector related rather than company specific. As others have said no idea how this will work out but this is not some flakey company it has recently reported positively on Brasse and hopefully more to come and the second half has further explo potential. I doubt Delek will walk away (still not sure how really aggressive they are)since their initial stake I can only see predominately good news from FPM which would surely not increase their interest ?
yasrub
22/7/2017
12:14
Ta, Scaff55. :-) The cost reduction is obviously helpful and timings are interesting. Dea's exit had already been accounted for by Faroe in its July 2017 presentation (showing a committed appraisal well for Fogelberg at 33%). Dea's walking away says that Fogelberg is not a certain money maker at this stage. Development will be dependent on the result of the 2018 appraisal well. If it does move to development, the timing would likely mean that cashflow from Brasse could be used. The above bit is easy to follow, the following is much more speculative. Moving to corporate matters, I expect Faroe's board will be active over this weekend. I think we are due 3 rns and possibly a 4th. One will be the Brasse sidetrack result, together with revised estimate of reserves. Then there should be 2 (or more?) holdings statements (following the big volume of the past week). For the possible 4th, I'm thinking there's likely been major corporate moves under discussion recently, possibly something has been decided? There are several variations of moves that may have happened. Is it possible that there's to be a private placing at around 70p and the market insiders are taking the price down close to that level? A raise could be justified, for instance, to buy more production in strategic locations. It could also have the effect of diluting Delek. But, issuing more shares down at this level would not be in the best interest of existing shareholders, imo. The big institutional holders are the king makers. One (who?) has been selling and taken the price down to 75p. Why would they do that? Delek not interested in buying the shares? Making a statement to the Board? Need quick money? Changed attitude to the sector? I'm no further forward in understanding this. Continuing to hold and hopeful ...... but who knows how this ends?
ed 123
22/7/2017
10:03
Dea Norway has chosen to withdraw from the ownership of license 433, which includes the Fogelberg discovery. The other owners, Centrica and Faroe, share Dea's share between themselves and will then hold 66.7 and 33.3 percent of the license. It shows documents petro.no has access to. The change in ownership will come into effect on 1 October 2017. PDO by June 2019 The Fogelberg discovery is decided to be expanded as a subsea link to the Åsgard B platform, and the owners have been given a deadline until 30 June 2019 to deliver a development plan. "The licensees have considered several development solutions and selected a subsea development related to the Åsgard B platform. The chosen solution involves gas transportation, Åsgard Transport (ÅTS). There is no available capacity in ÅTS before 2021. The licensees in Fogelberg have booked capacity in ÅTS for the gas years 2021-2023, "the Ministry of Petroleum and Energy reports in a letter to Centrica. It is planned to drill three production wells, and one drilling center is the preferred option, this to minimize the connection costs and to avoid moving the rig. The drilling campaign is estimated to last for about 12 months. 7-9 billion in investment Investments for development have previously been estimated to be between NOK 7 and 11 billion. The Ministry has made it clear that the production license will fall if owners do not deliver a development plan by 30 June 2019.
scaff55
21/7/2017
11:06
http://www.odfjelldrilling.com/News/item1/deepsea-bergen-signs-a-contract-for-one-well-with-wellesley-petroleum-as/ Suggests rig will go to do one drill for Statoil before Goanna, still no drill permit or well number for that so it can't be ready to go yet.
rogerlin
21/7/2017
09:15
Hopefully news on Monday which should give the share price a boost
harry rags
21/7/2017
08:15
Tugs listed to move the Deepsea Bergen, side track must be nearly done.
rogerlin
20/7/2017
13:49
Today's off the book trading volume is 56m shares this is around 16% of the company. Some of the large institutional investors seem to be shuffling holdings.
oli12
20/7/2017
10:13
From a sentiment viewpoint Delek Group if serious could pounce. Brasse news positive to date and to me management look to have the balance of explo/production about right. Not sure management can do much to defend off real interest - depends what Delek think is a bargain - current share price suggests £1.00-£1.05 might do it - institutions would decide. Whilst many might argue that would be a steal the current weakness leaves it open.
yasrub
20/7/2017
10:10
Looking better, it's not moving down on sells. Bargain territory but not convinced Mr Seller has gone yet or I would be adding.
basem1
20/7/2017
09:46
If the seller has gone this is a steal at this price IMVHO
harry rags
20/7/2017
09:39
Quite a bit more buying today. Hoping the 75p trades in volume was the end of the seller.
basem1
20/7/2017
09:31
Something happening in the background. If Delek Group are going to pounce then now is the time. If they have the support of the major holders then I am sure they can steal this great asset for peanuts. Remember - NO debt, over £100m in cash and some great assets some producing and some great prospects.
oli12
20/7/2017
09:03
Looking at the late trades approx. 20M shares reallocated. As just said the share price seems listless compared to company specific progress, but that's what makes a market.
yasrub
20/7/2017
08:58
"The Brasse appraisal programme will continue now with the drilling of a side-track well, targeting a location approximately 1,000 metres west of the current main well bore. The objective of the side-track is to map the reservoir distribution and further delinate the Brasse structure. A further announcement will be made at the completion of drilling activities including a revised estimate of recoverable resources for the discovery". That from 3rd July, three or four weeks should surely do it and the recoverable can only go up! Still no well number for Goanna PL881 but looking at the diagram of the licence it appears to be entirely surrounded by green and they evidently think something of it as it has been progressed quite rapidly, something to look forward to. But the share price seems to have become disconnected from facts on (or under) the ground and moving just at the whim of the market!
rogerlin
20/7/2017
08:45
Wonder if that's the seller nearly finished ??
basem1
20/7/2017
08:38
Some huge trades showing from yesterday.
yasrub
20/7/2017
08:19
My patience is starting to wear thin here after buying at 80.5 this is going to get dumped today !!!!
basem1
19/7/2017
17:18
Brent back over $50 again, let's hope it stays there this time!
bountyhunter
19/7/2017
07:49
Hmmm ... yes. Ta, Yasrub. :-)
ed 123
18/7/2017
19:05
Strange FIL new holding notice decrease to 4.97%.
yasrub
Chat Pages: 357  356  355  354  353  352  351  350  349  348  347  346  Older
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