Faroe Petroleum Share Discussion Threads

[whackford] 01/10/2018 08:09

Lengthy research note on Faroe by Edison released today (1 Oct).

[bountyhunter] 29/9/2018 13:40

Brent header chart rolled

[scaff55] 29/9/2018 11:10

VNG gone.

Neptune Energy completes acquisition of VNG Norge
9/28/2018

LONDON -- Neptune Energy Group has announced the closing of the acquisition of VNG Norge AS, as signed on June 28.

The transaction adds three producing fields, two development projects and 42 licenses to Neptune Energy’s existing portfolio, consolidating the company amongst the top five independent producers on the Norwegian Continental Shelf, by equity production.

The VNG Norge asset base is highly complementary to Neptune Energy’s existing Norwegian portfolio, strengthening its equity position in the greater Njord area to 22.5% in Njord itself as well as a 30% interest in, and operatorship of, the Fenja development project. Fenja is a subsea development, which will be produced as a tie-back to the Njord production hub, and is scheduled to come on stream in 2021.

Jim House, CEO of Neptune Energy, said: “This acquisition represents an excellent strategic fit with our existing portfolio, adding competitive growth assets in core areas of the Norwegian Continental Shelf. It will further underpin Neptune’s Energy’s portfolio with broad operating skills in subsea development, drilling, production and engineering. The transaction is in line with our strategy of expanding our position in key jurisdictions with high quality and complementary assets.

“We look forward to welcoming the VNG Norge employees to Neptune Energy as we accelerate our ambition to create the leading independent international E&P business.”

VNG Norge net production for 2017 was 4,000 boed with a significant ramp up by 2022 as new production comes onstream. Net reserves and resources were more than 50 MMboe as of Dec. 31, 2017.

[corrientes] 28/9/2018 11:12

Value determination mostly depends on general sentiment at the time. Jam tomorrow might then taste sour, even if basic objectives are achieved.

[thedudie] 28/9/2018 10:46

I would prefer they continued independently and sold it for £5 in early 2021 when 25000bopd achieved and 50000 on the horizon with maybe 200-250mboe 2P reserves.

Picking another winner isn't always that easy .... especially when not at the bottom of the cycle!

td

[wbodger] 28/9/2018 10:38

Monday morning, it would be an agreed bid.

Next Friday it wouldn't have to be.

[wbodger] 28/9/2018 10:24

who were the ones who sold out at the 125p? Ummm ... Delek?

And they didn't do too badly. Also JP Morgan, as I posted earlier.

[corrientes] 28/9/2018 10:23

This company has had class stamped all over it for a very long time now. That should command a better than expected premium IMO.

[hopeful holder] 28/9/2018 09:33

Ive been pleasantly surprised at thecontinued momentum of the price.I'm now in 2 minds where I'd like this to go..Takeover to provide short term gainStay independent and gain better rewards over the longer term.Whilst my holding is small the gains have been one of my star performers in my portfolio.

[cheshire man] 28/9/2018 09:13

Lucky enough to have held this since the lows of 2015 and what a great return it's given me,

"announcement Monday morning?" we will see Ed, certainly an exciting stock to hold :-)

[ed 123] 28/9/2018 08:48

Still rising, up another 4p, so far this morning.

Finalise over the weekend and announcement Monday morning?

[ed 123] 28/9/2018 08:15

Buy side of the order book is strong from the outset today. Someone is keen.

Perhaps news of discussions is leaking out? The major shareholders will presumably have been involved if there have been discussions on price.

Well, if there is a bid shortly it will confirm that insider trading is alive and well.

Feels like we are close to an announcement.

[bountyhunter] 27/9/2018 19:16

£2 has been my guess for a while now HR

[jasper2712] 27/9/2018 18:55

"Would DNO attempt a bid from such a high point"

The share price is now all relative to its true price. DNO know this. They scooped some up on the cheap - who were the ones who sold out at the 125p?
The value of what is in the ground and the potential of 35000bpd in a few years time surely makes it nowhere near its "high point"
When Faroe raised cash it was to extend its asset base which is now adding value to the company -they didn't raise the cash for their operations which have always been fully funded

[harry rags] 27/9/2018 17:08

Hopefully nearer 200p

[whackford] 27/9/2018 15:18

I heard Faro were meeting with DNO this week. Anybody know which day?

[thedudie] 27/9/2018 15:10

Agar / Plantain result must be close and Rungne due to spud....
td

[corrientes] 27/9/2018 14:57

This share price movement has all the look of a takeover approach to me. I've seen this type of ascent,even in bear markets. The Market is the consensus of views and is rarely wrong IMO.

The oil price is a catalyst, but I don't think its the main impetus at the moment.

[ed 123] 27/9/2018 14:47

164p in the market. Due to a combination of higher oil price and impending end to the DNO bid moratorium?

Would DNO attempt a bid from such a high point? Better to keep quiet and hope some bid froth comes off the price, then seek support of one of the bigger share holders?

What might DNO offer? 185p?

[harry rags] 24/9/2018 10:28

Oil $80.82 at present with forecast of $ 90/100 between now and early 2019That should see the share price rise with or without a bid IMHO

[thedudie] 21/9/2018 09:01

Edinburgh 30/14b...
hxxps://itportal.ogauthority.co.uk/web_files/relinqs/P2039.pdf

td

[bountyhunter] 21/9/2018 08:05

not seen that before Roger, ...so if the price was right, but seems little chance of that from DNO right now judging by their rhetoric

[rogerlin] 21/9/2018 07:59

That was the comment on the Edinburgh prospect at the time (May).

[rogerlin] 21/9/2018 07:55

Not new but not sure it has been posted before.