Faroe Petroleum Share Discussion Threads

[bountyhunter] 13/3/2018 20:41

header intro updated for 2018 from the website

[wbodger] 13/3/2018 19:51

Yes, sometimes all you get is a change on the Active Wellbores page, and the entry date of the sidetrack is the same as the completion date of the mainshaft. They don't report to the market until they are ready to release the rig. (I can't believe major shareholders are kept in the dark, but that's probably my suspicious mind at work. Hard to argue it's not market sensitive.)

[rogerlin] 13/3/2018 18:53

I think some of the side track permits are late to be posted on NPD. I am following 35/9-14 Tethys, another Spirit operated well currently drilling (in which Cairn are interested) which has changed into 34/9-14A which is presumably a side track, without any permit notice that I can see.

[atyorcall] 13/3/2018 16:16

Norwegian oil workers on shore voting on a strike next week I believe on pensions,could have caused slight weakness in the sp

[wbodger] 13/3/2018 13:23

There has been an entry on Hagland offering a long term contract with Spirit Energy for PSV Olympic Energy for Island Innovator, 2 wells + option and a date, which looks like Fogelberg. (I don't know if others have been watching ship brokers?) That entry now shows on the Spot page without naming the rig, but it's obviously the same. Provisionally until mid-May. Fogelberg spudding RNS was on 5/02/18.

On Iris & Hades, as Faroe is not the Operator they're in the hands of OMV for announcements. No sign of any AHTS bookings for Deepsea Bergen, or sidetrack permits. If they were testing a discovery wouldn't they want to do a sidetrack?

[thegreatgeraldo] 13/3/2018 11:48

Not sure gold would be viable at this location ;-#))

[rogerlin] 13/3/2018 08:23

Possibility of a side track mentioned here, no permit for one on NPD as far as I can see but sometimes they appear late in the day.

[harry rags] 13/3/2018 07:41

Iris/Hades wellEst.approx 90 days now 104 daysThe question is will we hear before next Tuesday's Company Final Results or will they leave it until after that is out of the way?They last said (13th Feb) results expected in the coming weeksHarry

[rogerlin] 09/3/2018 08:09

Trym mentioned on slide 7 of latest presentation. Net production 4,540, planned suspension 2019, re-start 2022.

[wbodger] 08/3/2018 16:46

Total/Maersk deal complete.
hxxps://www.offshoreenergytoday.com/total-closes-maersk-oil-deal/

Faroe did not have any direct JV interests with Maersk, but the article does make a couple of references to the Tyra field which FPM and the only partner Spirit (Centrica) use for processing of the Trym output.

[atyorcall] 08/3/2018 14:17

Over due news for some time now,must have found something otherwise we would have heard imo

[ed 123] 05/3/2018 16:17

Perky?

Oil price going up and US equities going up.

They're take Faroe up a touch, imo.

[atyorcall] 05/3/2018 16:08

looking perky,news on the way?

[atyorcall] 04/3/2018 17:37

Yes they have increased it from 1.30 to 1.40p, news next week hopefully

[thedudie] 02/3/2018 09:34

Looks like RBC has moved target price to £1.40 today ....
No further info ....

td

[rogerlin] 01/3/2018 08:49

Thanks thedudie, plenty to look at there. Brasse extension (slide 39) looks a nice large yellow area, reminds me a bit of the high hopes for Boomerang, looks very promising in view of the proximity to Brage.

Would like to hear more of the Irish licence adjacent to Corrib, which was farmed out to Nexen. Vermilion should be taking over operatorship of Corrib when Shell's sale completes later this year, the Corrib owners have every reason to want to add in any available gas within tie in distance.

[thedudie] 28/2/2018 15:08

Chunky new presentation available ....

td

[atyorcall] 28/2/2018 14:40

Slowly probing higher.Compared with other oilies this co looks a sound bet,with the added bonus of a possible T/O

[wbodger] 27/2/2018 22:07

They have to get a Wellbore licence for a sidetrack. It should be 6506/11-10A if they start one but it hasn't been logged yet.

6506/11-10 is logged as a Wildcat. One of the bulletins reporting the permit mentioned 142 days for the operation, so we may not be quite finished.

re Fogelberg, Island Innovator has two wellbores contracted, 6506/9-4S and 4A. Only the 4S mainshaft is logged on NPD at present, logged as an Appraisal of the 2010 discovery. There are options for two additional wells according to offshoreenergy and it will be another long one. It should settle whether Fogelberg is economical, in which case it might add to 2P Reserves. I think I'd like a decisive result one way or the other.

[atyorcall] 27/2/2018 18:15

thks for your imformation ed very helpful

[ed 123] 27/2/2018 17:49

Hi Atyourcall. The answers are in the link provided by Rogerlin.

There is no certainty that a side track will be drilled even if hydrocarbons are found in the Iris reservoir. A side track may be drilled.

And no again, a side track would be unlikely to take exactly 67 days. They say any side track could take up to an estimated 67 days.

Also, it is a given that the initial well plan might be modified (subject to consents) in response to what is met/found.

So, no certainty and we'll only know the well result when we are told.

(Apologies if I sound pedantic but exploration companies generally word their releases carefully.)

[atyorcall] 27/2/2018 17:00

Do I read it they will do a side track which will take 67days?thks

[rogerlin] 27/2/2018 12:57

A bit longer suggested here.

[ed 123] 27/2/2018 11:41

Yes, there might be something there. Although, I do remember Faroe's involvement in the North Uist well, which took over 12 months to drill and found nothing commercial. :-O