Faroe Petroleum Share Discussion Threads

[wbodger] 11/1/2018 18:08

I suppose in practice it means OMV will continue drilling down to Iris if the Hades reservoir is unpromising. So it could still go either way. But it is a while since drilling results had much correlation with share price movements.

I'm getting really irritated that I did not act more decisively and dump Faroe two months ago, eat a small loss and put the funds into something safe like ... PMO.

Premier Oil ??? I hear you ask, aghast. There are times in the oil patch when staying with a solid conservatively-run, solvent company is exactly the wrong move, better to pick something previously on its knees, pray for divine intervention and go all-in on a recovery in PoO. Ruefully, good luck to anyone who did better than me !!

[uncertain times] 11/1/2018 15:35

Has this been re-rated?

[rogerlin] 11/1/2018 08:16

The well will target two formations, one in the Cretaceous and the other in the Jurassic.The Cretaceous Hades prospect is a closure on the flank of the Sklinna Ridge, with the Jurassic Iris prospect located directly underneath, within a rotated fault block.

Two targets so it might take longer?

[wbodger] 10/1/2018 21:53

Aerosmith-Iris is nearing halfway. Guidance was 90 days from a spud date of 29/11. Usually dusters have been announced well within three weeks of spud.

Looks like there was late trading, perhaps accounting for the 3 pence rise on the day. I suppose most likely to be PoO driven, but intriguing nevertheless, with drilling underway. FPM has 20% of Iris. Good day for oilies probably explains it.

Fogelberg rig (Island Innovator) might be moving next week. To start around 18/1 ? Centrica is the operator.

[bountyhunter] 10/1/2018 07:49

Brent chart updated, current price is $69.12

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[dahhad] 09/1/2018 16:45

Spoke too soon!!

[dahhad] 09/1/2018 08:52

Great to see this getting some pace!

[thedudie] 08/1/2018 09:08

Appears Peel Hunt have upgraded their target price from 115 to 125p
I have no details

TD

[oli12] 04/1/2018 09:17

FPM should be nearer 110p given the POO currently.

[rogerlin] 03/1/2018 08:31

Brief mention of Njord project in this. One day of course industry costs will go up again.

[rogerlin] 02/1/2018 19:33

"As 2017 draws to a close, Faroe Petroleum is in a good place, with a fully funded investment programme, a strong balance sheet, a number of high quality development projects underway to meet our production goals. We also look forward to another high impact exploration programme in 2018, starting with the OMV-operated Aerosmith/Hades well, currently drilling in Norway".

Graham Stewart CEO on 19.12.17. Seems optimistic, better than "challenging" anyway.

[uncertain times] 31/12/2017 22:39

Any ideas where we're headed next year please? Fundamentals look sound and commodities a rising sector. Chart looks like a possible break to 120.

[rogerlin] 27/12/2017 10:20

The Iris/Hades drill began on 29.11.17 but Marine Traffic is giving the Deepsea Bergen as out of range, nearby ships just given as "tugs and special craft" so not informative.

Island Innovator still has not moved, Fogelberg appraisal was never billed that early anyhow.

[oli12] 22/12/2017 14:19

Here Here. 2018 will be a good one for FPM I feel.

[dahhad] 22/12/2017 14:07

And a Happy Xmas to all!! Maybe we will stay £1+ for a while!

[rogerlin] 19/12/2017 19:59

Faroe acquired an initial interest in the Schooner Unit in 2007 and in 2014 increased its interest to 60% and assumed operatorship along with the nearby Ketch Gas Field.

Thanks tgg, that should provide a bit of useful income then (also 7.5% of Topaz).

[harry rags] 19/12/2017 17:06

Latest RNS should help round help the share price going into the new year

[thegreatgeraldo] 19/12/2017 11:50

rogerlin,

From OGA figures, Ketch is averaging 12mmscfd & Schooner is averaging 10mmscfd (both figures gross)

[ed 123] 15/12/2017 14:32

No, they will keep some UK production, imo. Faroe have UK petroleum tax losses to use up. Also, there are ongoing London head office costs, so makes sense to have some UK corporation taxable profits to set off.

The UK's problem is its politicians. They just can't resist meddling with petroleum taxation. It makes for uncertainty and no business wants that.

[rogerlin] 15/12/2017 08:22

Was thinking that the UK gas interests (Schooner etc) will be benefitting from price rise, but find it remarkably difficult to find any recent statement of the production from these. Faroe don't seem very interested in UK at the moment. If after the Budget it is possible for a buyer to acquire their tax losses I wonder if they might sell up out of UK altogether?

[oli12] 15/12/2017 06:28

For sure a chance to get in here. This could be one of the picks for 2018. If oil can stay well above $50 then FPM will be adding to its cash pile. This is an opportunity IMO

[dahhad] 14/12/2017 22:24

Recent share price fall seems overdone IMHO. Buying opportunity?

[rogerlin] 13/12/2017 08:39

Positive update from Europa on their licence adjacent to Corrib. Hopeful for FPM's Corrib East LO16/23 which was farmed out to Nexen (80%). I thought Faroe had given up on the Celtic Sea but the website now lists LO17//2 and LO17/1 as having been granted for 18 months from June 2017. The most northerly of these is on the southern side of the famous Barryroe, certainly in the right area then.