Faroe Petroleum Share Discussion Threads

[rogerlin] 09/10/2018 16:37

Westshore list tugs to move the Transocean Arctic, next stop Rungne.

[ed 123] 09/10/2018 09:15

Hi Harry and all.

200p? I'd take that. Happy with the way Faroe is run these days. That hunting of elephants in the Barents is behind us. I continue to hold, trading a few on occasions for some excitement. Talking of which, my Serica holding is looking a lot more cheerie this morning. Very happy with that.

I presume DNO have been given some sort of indicative figure by Faroe/its other major shareholders, and it's considered 'too high'. Danger for DNO is that more success by Faroe makes that indicative figure look reasonable value but, of course, the ask goes up then too. It's a game of cat and mouse.

[wbodger] 09/10/2018 09:09

"We've chosen to invest heavily in Norway because of many things, but its fiscal stability is one of those things. The UK and its instability from a fiscal perspective is a massive detractor and will be for others,” says the CEO of Faroe Petroleum, Graham Stewart. The picture for this part of the oil world, in other words, remains mixed.

hxxps://oilprice.com/Energy/Crude-Oil/North-Sea-Oil-Renaissance-Could-Flop.html

[greenroom78] 09/10/2018 09:07

180p would look very cheap from here given the current PoO. On that front 20p pullback looks very heavy with Brent edging closer to $85 again.

[harry rags] 09/10/2018 07:00

Ed123I still think 200p is at this point is a reasonable offer. I expect the share price to recover from yesterday's close and with any exploration success this could be back to the highs of a few days ago. The longer DNO take to make a bit the greater possibility that a rival may appear and then who knows where we will finish up. Still holding and hopeful all of course IMHO

[ed 123] 08/10/2018 17:00

I think there is a deal to be done here. DNO want the geographic diversification, have made a sizeable commitment, and have the cash for the other 71%. Faroe's institutional holders have (mostly?) experienced $26 oil and a Faroe shareprice of 45p. Will the likes of Blackrock want to risk holding through another trough? Eg. if the Saudis heed Trumps's call and manouvre the oil price lower?

[ed 123] 08/10/2018 16:49

Yes, I don't think Agar/Plantain is going to move the needle much.

Down another 7p or a little under 5% today. Now down 20p from its high point of a few days ago. Some of the hot money which had been expecting a bid on the 6 month anniversary, leaving?

If the share price falls a bit more it might help to get a deal over the line? Perhaps a 30p bid premium if the price falls to 150p? Might 180p get the nod from one or two major holders and DNO?

[rogerlin] 08/10/2018 09:01

I think at the CNE interims Q and A (11th Sept) they mentioned tophole problems but that is some time ago, not doom and gloom, there are often delays!

[jasper2712] 05/10/2018 19:56

Catalyst confirmed that the Plantain exploration well spud at approximately 6:00pm on 24 August 2018
The well is expected to take approximately 28 to 38 days to complete
The Plantain well will be followed by a contingent side-track to appraise the discovered Agar field.

The results will be announced on completion of drilling operations.

So they are not behind with their drilling operations - Why all the doom and gloom?

Think positive

[rogerlin] 05/10/2018 18:51

No indeed that was a low point, with luck Agar/Plantain will be a success and hopefully we will be kept better informed with Azinor as operator, at least the problems to date are already up front.

[xxnjr1] 05/10/2018 13:42

No! But I've just looked those wells up rogerlin. Hopefully Agar/Plaintain won't be that bad.

[rogerlin] 05/10/2018 08:17

Remember the Stena Carron? Lagavulin Oct 10 to Jun 11 and North Uist Mar 12 to Jan 13.

[xxnjr1] 04/10/2018 23:15

sounds like the well from hell. spud 24/8, re-spud 4/9, re-spud 23/9.

[thedudie] 04/10/2018 20:16

Agar/Plaintain looks to be a little while yet - it re-spudded on 4th then again on 23rd September according to …



td

[thedudie] 04/10/2018 20:16

Agar/Plaintain looks to be a little while yet - it re-spudded on 4th then again on 23rd September according to …



td

[wbodger] 04/10/2018 19:06

You are right td. I've been waiting for the Wellesley drill to finish and forgot there has not been a spudding announcement yet for Rungne. Wellesley started their sidetrack 4 weeks ago.

Azinor still has the PSV contracted for Plantain, but no AHTSs yet.

[redrossi] 04/10/2018 17:19

Agar/Plantain is near Beryl not Brae

[thedudie] 04/10/2018 17:12

Rungne hasn't spud yet has it? .... Agar/Plantain imminent?

[wbodger] 04/10/2018 16:29

Lundin swapping its interest in Rungne. It could be good - Equinor has most of the licences immediately south of Rungne, and they hold shares of Lundin. Result on Rungne should be imminent. (Edit see #1278)

Also in the news, Marathon exiting UK, which affects Brae fields ie Plantain/Agar if there's anything there. (Also, Marathon has 47% of East Foinaven.)

[ed 123] 04/10/2018 16:05

Well, the shares (at 165p) are about 10p below the high of a couple of days ago.

Today marks the 6 month anniversary of the 'no intention to bid' notice by DNO, so that moratorium has now ended. Some holders may be disappointed not to see a takeover offer today, recommended or otherwise.

Faroe is not the bargain it was when DNO acquired their 28% at 125p. I'm not convinced there will be a bid from this level. Maybe DNO will be content as passive holders?

[bountyhunter] 01/10/2018 19:38

I'm sticking with my prediction of £2 for s takeout price. Although I believe the true value to be higher we all know that DNO will offer as little as they think they can get away with!

[jasper2712] 01/10/2018 19:14

DNO know a bargain when they see one. They are looking at the potential this company has in 2 years time

[churchill2] 01/10/2018 18:52

Be careful Harry you may be disappointed if DNO engineer a drop in the share price.

They could easily say they see this as a long term hold or even sell there holding.

After all there may be other opportunities in the market.

[harry rags] 01/10/2018 15:24

After reading the report I think my estimate of 200p to be taken out by DNO is undervaluing my investment. Disappointed that Edison have not made any mention of the possibility of being bought seeing the report has just been released today. Anyone else reconsidering their valuation?

[cwa1] 01/10/2018 08:19

And the link:-