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
  -2.00p -2.02% 97.00p 96.75p 97.25p 98.25p 97.00p 98.25p 136,359 12:58:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 94.8 -61.5 -10.5 - 355.64

Faroe Petroleum Share Discussion Threads

Showing 9176 to 9200 of 9200 messages
Chat Pages: 368  367  366  365  364  363  362  361  360  359  358  357  Older
DateSubjectAuthorDiscuss
20/11/2017
08:14
http://www.npd.no/en/news/Drilling-permits/2017/650611-10/ Here's the official version.
rogerlin
15/11/2017
08:45
OMV Norway gets thumbs up from the Petroleum Safety Authority Norway for exploration drilling in the Norwegian Sea. The operator for extraction liner 644 in the Norwegian Sea has been granted permission to drill pilot 6506 / 11-10 in the Hades / Iris prospect. Following the plan, drilling will start no earlier than December 1, 2017 and last around 142 days, depending on the discovery. The company that will use Odfjell Drilling's semi submersible drilling rig Deepsea Bergen from 1983. The rig arrived in September directly from the North Sea to a warm print on Averøy outside Kristiansund. During the last two months, maintenance and preparation of Deepsea Bergen has been carried out for the new assignment. The exploration well Hades / Iris is located at Haltenbanken in the Norwegian Sea, about 280 kilometers north of Averøy and 300 kilometers west of Brønnøysund. The ocean depths of the site are about 342 meters
rogerlin
14/11/2017
11:36
Ah, ok then. It was your moniker that prompted me. Now that's out of the way, I'll say that, when I've had first hand knowledge of something which has been written about in the press, there's normally been a big error in the journalist's report. Moving on, I definitely don't see a placement coming. Firstly, no mention of it in the bond rns from the company and, secondly, if a placement had been in the plans, wouldn't they have done that ahead of the bond issue? - to lower the risk of the bond and hence achieve a lower interest rate. Delek? Yes, they are better funded than KNOC. eg. Delek recently approved buying back their own shares in the market, and they seem to be close to buying some assets in the Gulf of Mexico. Maybe the other 85% of Faroe will be on their agenda at some point in time? Who knows?
ed 123
14/11/2017
11:03
Ed: Journalist! How very dare you !! :-O Actually I quite liked the Telegraph piece, although the Corrib mistake was careless. I tried to unpick what she knows/guesses. (I suppose it would have been quicker to phone Faroe and ask. If it drags on I will do so but they won't say much now.) I guessed the hint towards Fenja and Brasse was correct, as it would make sense, given the history of Maria and given Point's present circumstances. I believe Dana was offered participation in placements after 2010 but didn't take it up after they were bought by KNOC. We haven't heard of a Delek representative on the Board have we? Perhaps they are content to be kept in the loop for now. I do hope all question of placements is spurious though.
wbodger
14/11/2017
10:37
hxxp://www.offshoreenergytoday.com/omv-gains-nod-to-drill-hades-iris-well-with-deepsea-bergen-rig/ duration up to 142 days ..... Start on or after 1st December td
thedudie
13/11/2017
23:59
Wbodger. Apologies re: my post 520, if you are a journalist. (No need to respond.) Re: Brasse development. Faroe are the operators and 50% holders, so have control. They could (not saying they will) go for a leased FSPO or tie into Brage, if that's cheaper, and say two producers. That would be relatively low capital outlay. Then, when the oil's flowing, use the cash flow to undertake a more extensive development. Possibly that's what this $100 million is about? To cover a cheap start up at Brasse? Faroe need to show whoever that they can stick with the full 50% of Brasse all the way through to production? If that is accepted, then 'whoever' may offer a more realistic deal? Only my speculation, of course. Another thought .... Faroe diluted KNOC but have chosen not to dilute Delek. Anything to be read into that? I think that HiTec Vision (as well as Delek) has to be interested in Faroe. And on to the commodity price ... the $60 barrel has come at the right time for Faroe. They need to lock in some more of their future production at this level, imo. Viewing the whole, Faroe is looking good. Happy holder. (No advice intended.)
ed 123
13/11/2017
22:16
All three of the banks mentioned in Friday's RNS are Scandinavian, although the funds will be secured in the market. $100 million seems very small. Friday's RNS just looks like news management, in case news of the meetings affected the share price - which it would if not managed. Two developments are specifically named in the Telegraph story, Fenja and Brasse, the ones where our partner is the new playground bully Point Resources, bulked up with all that Exxon-Mobil production and personnel (the deal is now complete): hxxp://www.offshoreenergytoday.com/exxonmobil-sells-norwegian-business-to-point-resources/ TheTelegraph may be speculating (or may have talked to Hitec/Point) because the fields they name were not in the Faroe RNS. Brasse development especially will be expensive given Faroe's 50% share. The reporter seems to think Faroe are working on a sale of part of their portfolio - not a farm down ahead of development, which would be more usual. I bought my first shares after the Maria divestment which brought developed production, ie cash flow, in return for 30% of a discovery which would have been crippling for a fledgling company to develop. It was generally a good deal, although Njord 'A' was part of it, and that has not turned out so well. (Just for revision, Fenja was Pil, and Point secured their 45% of it by taking over Rocksource who had 15%, and merging that stake with Spike Exploration's 30%. Brasse was discovered by FPM and Point, 50/50.)
wbodger
13/11/2017
08:28
https://www.bloomberg.com/news/articles/2017-10-31/oil-output-threatened-as-norway-explorers-neglect-north-sea
rogerlin
12/11/2017
16:58
Also mentioned by Simon Thompson in Investor's Chronicle "Importantly the fundamentals driving the oil price higher are sound and should support further share price gains towards my 115p target price, and perhaps beyond".
rogerlin
11/11/2017
19:52
I would think 5% would be about right. Could be good timing with interest rates expected to slowly rise over the next few years.
bountyhunter
11/11/2017
19:26
There's piece in today's Telegraph on Faroe, its plans and the proposed bond. http://www.telegraph.co.uk/business/2017/11/10/fully-funded-faroe-petroleum-raise-100m-sale-talks-loom/ Sadly, it's written to normal journalism standards. For instance, readers are told that Nexen agreed to meet the costs of developing Faroe's Corrib gas field. That is incorrect. The Corrib gas field is big and already in production, operated by Shell. Faroe have no part of it. What Faroe do have is an interest in a block to the east of the Corrib field, and Nexen agreed to run seismic, etc., to determine if there's anything worth drilling, plus any first well carry, in return for 80%. Unfortunately, this calls into doubt the rest of the piece (unless we have it corroborated from another source). So, I'm not sure what to make of the Telegraph story. Aside from that, anyone care to guess what the interest rate will be (assuming the bond goes ahead)? I'll say 5% pa.
ed 123
11/11/2017
14:27
The rns didn't mention convertible; it said, a senior unsecured bond. Also, if a convertible had been on the way it's likely the share price would have fallen. In fact the shares went up 1p on Friday, on a normal volume.
ed 123
11/11/2017
09:16
It won't be so good if it is a convertible bond though. Should know soon
ntv
10/11/2017
13:09
Makes perfect sense going the bond route , we are cash flow positive but we're coming into a period of sizeable caped spending , Tambar project kicked off, Oda, Njord, Brasse, Fenja all going to needed funded in upcoming billings/cash calls so am very comfortable with this
redrossi
10/11/2017
07:45
Today's RNS. They're going to test the market for a $100 million 5 year bond. It makes sense to me. I wouldn't want to be diluted with an equity issue. Why raise more money now? Two possibilities come to mind. Firstly, they may want to add to their current production. Secondly, they guided down from 50,000 boe/d target to 40,000 boe/d, implying to me that they'd be divesting part of the Pil block or more likely part of Brasse. An additional $100 million could mean hanging onto their current share of both. A quick calculation of post tax income on 10,000 boe/d in Norway says the bond would be good way to go.
ed 123
08/11/2017
20:03
tipped in the IC again building cashflow
ntv
07/11/2017
09:34
According to Averoy, the rig will stay there for two months after which it will mobilize to drill the Iris and Hades prospects for OMV. The well will be located some 20 kilometers from the Morvin and Smørbukk Fields in the prolific Halten Terrace hydrocarbon province of the Norwegian Sea, around 280 kilometers north of Averøy and 300 km west of Brønnøysund. Thanks thedudie, that's two months from 18th Sept, "prolific" would do nicely!
rogerlin
07/11/2017
09:06
Rogerlin ... hxxp://www.offshoreenergytoday.com/averoy-to-host-deepsea-bergen-rig-ahead-of-next-drilling-assignment/ Suggests a couple of weeks away ? (I like the sound of the "prolific" bit!) TD
thedudie
07/11/2017
08:24
No sign of movement by the Deepsea Bergen, perhaps it will not be till after Christmas now. In the meantime we benefit from the rising tide that lifts all boats.
rogerlin
01/11/2017
17:26
Brent header chart contract rolled to front month
bountyhunter
28/10/2017
07:44
Very good recovery yesterday with some decent volume maybe month end adjustments or someone shoring up a position below the £1 before FPM breaks north. There is some great discussion on here coupled with some in-depth research. I like the fact Faroe has many irons in the fire so to speak, for a junior oiler this is rare and it’s reflective of the quality management here running the show. It’s a shame it’s off the radar of so many, as this is a great company with fantastic prospects in the next 2-3 years.
oli12
27/10/2017
22:43
Good recovery this week, some decent trades in the afternoon (rollovers? or else could there be a TR-1?). Nice V-shape to the graph over the last two weeks. Hope to power ahead next week if PoO breaks $60.
wbodger
27/10/2017
08:43
Read a Lundin presentation from January 2008. They thought the discovery well had found 22 mmboe, and classed it as contingent resources. Showed aerial size of SE Tor approximately equal to Tor. The carved out block PL006 C looks big enough to hold 4 Tor size fields. Faroe have some understanding of the geology around that location. It's possible (though, who knows?) that they will aim the drill bit elsewhere on the block and, if successful, SE Tor could be added to a future development? I recall they found Pil on a block that others had handed back. (Just my idle speculation.)
ed 123
27/10/2017
07:29
DST 1 tested the interval 3386 - 3395 m in the lower part of the Tor Formation and flowed 21 m3 water /day. DST 2 tested the interval 3120 - 3191 m in the upper part of the Tor Formation. Average flow parameters at maximum choke, 40/64", was 682 Sm3 oil and 340400 Sm3 gas /day. The oil gravity was 36 deg API and the GOR was 463 Sm3/Sm3. The GOR on smaller choke sizes was significantly lower, down to 233 Sm3/Sm3 on a 16/64 "choke. DST 3 tested the interval 3053 - 3065 m in the Ekofisk Formation and flowed on average 682 Sm3 oil and 141330 Sm3 gas /day on a 32/64" choke. The water production during this flow decreased from 57 to 17.5 m3 /day and the GOR decreased from 213 to 179 Sm3/Sm3. The oil gravity was 38.2 deg API They have good information on the 2/5-3 well, extensively cored (pictures on the NPD well entry although they are given in feet!). Appraisal wells to NW and SW were duds, but nothing drilled to the east. Hard to see room for an elephant hiding here?
rogerlin
26/10/2017
21:24
Yes, I get the impression there's fairly routine dialogue between companies, and it feels like something is hatching. Faroe, I think, are looking for some more production to use up UK tax losses. To improve their gas/oil balance, gas might be preferred. On the selling side, I think they'd like to reduce their percentage of Brasse - to make the capital cost easier and to spread risk. SE Tor? Yes, they'd normally reduce their share. Having said that, they could drill it at the full 85%, as the water depth is only 67 metres, so in lower cost Jack-up range. It's an odd one, as the discovery well produced a good flow rate (total of 8,800 bbls/d from two formations), but subsequent appraisals failed to find anything meaningful. With the history of appraisal disappointment and partners withdrawing, I'm thinking it may be difficult to get a new party to sign up. So for Faroe it might become a case of, "How lucky do we feel?" Binary choice, 85% or drop it? BTW, Brent forward month has reached $59.5 - so within spitting distance of a major price level. If it breaches $60, it could trigger renewed investor interest in the sector?
ed 123
Chat Pages: 368  367  366  365  364  363  362  361  360  359  358  357  Older
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