Faroe Petroleum Share Discussion Threads

[harry rags] 09/12/2016 16:10

Big dazzlerHope your right, my pension needs it ?Harry

[bigdazzler] 09/12/2016 16:03

My first target is 100p however as I stated in post in mid Oct I see this running much further.

[harry rags] 09/12/2016 15:54

First target met now on to 100p +

[wbodger] 08/12/2016 18:19

Ptil.no has a bulletin in Norwegian today that Faroe has received consent to take over operatorship of Oselvar and Trym. Google translation includes "Although [the previous] request is granted consent to use facilities and pipelines, the new service provider must agree to use these. That's because the consent to use also includes the relevant parts of the management system of the operator.

"PSA has now given Faroe consent to use facilities and pipelines that are related to these."

Although DONG currently shows as Operator on NPD the partners in Ula, Tambar, Oselvar and Trym have been changed. Operatorship of Ula and Tambar are not affected.

[rogerlin] 08/12/2016 08:10

Personally I'm sorry FPM didn't get anything in the latest licence round in the Barent's, some of the licences look very exciting, Korpfjell (page 18 of Lundin's presentation) especially. ConocoPhillips have 15%, I thought they were getting out of deepwater exploration, perhaps FPM might be able to buy a small interest off them?

If we are not to go elephant (or walrus) hunting any more then perhaps a small dividend might be in order, once the new acquisitions have bedded down?

[ed 123] 07/12/2016 11:52

Yes, we live in hope, Harry.

If they moved to a full listing it would have a positive impact on the share price, imo. Could see 100p(?) if fully listed.

Management are doing ok, imo, and were lucky in raising funds ahead of the fall in the oil price. They don't seem to have an exit strategy, though - though, to be fair, it is more difficult these days.

Ta, Rogerlin. :-)

[rogerlin] 07/12/2016 11:35

Handy summary of Barent's sea here. Faroe's Bone/Dazzler is our last prospect left here I think.

[rogerlin] 06/12/2016 15:50

Looks like the Bone/Dazzler prospect may be drilled by the Scarabeo 8, although the Goliat Eye would seem first in the queue, spud "year end" may be very optimistic if this is the case.

[harry rags] 06/12/2016 13:49

Ed1231m shares traded as follows10:09.1910:13.2110:34.2013:03.11CheersHarry

[harry rags] 06/12/2016 13:45

Ed123Thanks for the infoI see the latest RNS states "This transformational deal paves the way for Faroe's evolution into a full cycle E&P business fit for the modern industry as we continue to grow the value of the Company through exploration, development and production with a high quality and diverse portfolio of assets."Looks like good news to me, can we expect 90p + before Christmas and over 100p in the first half of 2017?We live in hopeHarry

[ed 123] 06/12/2016 13:05

I could only see two 1 million share trades, but a third has just been printed (13:03 hours). The first two were close in time and so probably related.

PMG, as you're probably aware, list their Faroe shares as assets held for sale. They could sell into this strength. If they do, I'd expect to see an rns from them.

Order book looks normal, save for the price being in the 80's. Recent rise, as we know, due to OPEC agreement.

[harry rags] 06/12/2016 12:23

The three 1,000,000 + trades and are there more? or is this PMG getting rid of their shares? Only a thought

[harry rags] 06/12/2016 10:39

Anyone got level 2 to try and make sense of today's trades?

[theblackbaron] 04/12/2016 09:49

moving on up as they say

[rogerlin] 01/12/2016 14:05

The company has announced that the FDP for the ODA( formerly Butch) field has been submitted to the Norwegian Ministry for Petroleum and Energy. The company are using an innovative solution for the hydrocarbons, the field ties back to the Ula platform where the oil will go to the UK via the Norpipe system and the gas will be re-injected into the Ula reservoir to improve recovery. It looks like a win-win situation as over the last two years of developing the plans investments costs have fallen by 40%. This proves yet further advantages of the Dong acquisition and means that Faroe’s success with the drill bit in recent years is even more vindicated.

Malcy's blog 30.11.16

[wbodger] 30/11/2016 09:59

Oda PDO submitted. RNS issued by Faroe, also picked up by OffshoreEnergy:
hxxp://www.offshoreenergytoday.com/centrica-hands-in-development-plan-for-oda-field/

Faroe has 55% of Oselvar, and only 15% of Oda, so Faroe's cost of Oda will be reduced by the compensation. 5,250 boepd net to Faroe from 2019.

[wbodger] 29/11/2016 18:18

Just for interest sake
hxxp://www.offshoreenergytoday.com/maersk-dong-discuss-oil-merger/

[rogerlin] 28/11/2016 08:15

The Scarabeo 5 still seems to be at Njord and so it looks like it will be able to carry on.

[wbodger] 25/11/2016 16:04

Thanks, Ed

I suppose they can do that development and production work now. Lots of time, and lots of stacked rigs so it makes sense to take advantage of the buyers market. Snilehorn will be tied in, so the sea-floor hardware and umbilicals can presumably be engineered too.

(Ithaca's FPF held up by electrical problems, I see. Buying opportunity? DYOR )

[ed 123] 24/11/2016 13:22

Due to the cessation of drilling from the old Njord A platform towards the end of its life, there was a backlog of development drilling. Note that the planned output on return will be approximately double that at the time of the towaway. I don't know for sure, but I'd guess (while drilling costs are relatively low) the partners are having future producers drilled.

[wbodger] 24/11/2016 13:00

hxxp://www.offshoreenergytoday.com/norwegian-safety-watchdog-to-probe-scarabeo-5-rig-fire/

I think that's just pro-forma after a fire on a rig. Not sure what it has been doing at Njord?