Faroe Petroleum Share Discussion Threads

[bountyhunter] 15/11/2018 12:36

that's down to the oil price in my view - have a look at the Brent chart in the header

[jasper2712] 15/11/2018 09:49

Unfortunately it hasn't evened itself out on the share price. We are still substantially down if we consider the fall over the last 2 weeks.

[yasrub] 15/11/2018 08:08

Does not always work but great timing on farm in in August, that makes it 1-1 for the week.

[bountyhunter] 15/11/2018 08:04

and more info on the Agar/Plantain discovery here...

[bountyhunter] 15/11/2018 07:52

"The Agar/Plantain discovery is located approximately 12 kilometres from the Apache-operated Beryl Bravo facility to the south west, and the Alvheim FPSO is located approximately 14 kilometres to the southeast. These facilities both offer potential for development of the Agar discovery."

[bountyhunter] 15/11/2018 07:46

Good news this morning and only 12 km from existing infrastructure...

Faroe Petroleum PLC Successful Agar/Plantain Exploration Well (UK)

Graham Stewart, Chief Executive of Faroe Petroleum, commented:

"We are pleased to announce a very promising discovery in the Agar Plantain prospects, a well we farmed-in to in August of this year. This is our first exploration well in the UK since 2013 and this together with the award of the exploration licence on the exciting Edinburgh prospect earlier this year marks a return of focus to the UKCS which offers significant value potential, especially with our existing tax losses in the UK.

"The Company's exploration programme will continue over the remainder of the year with two further committed exploration wells in Norway: the Brasse East (Faroe-operated) and Cassidy wells."

[rogerlin] 14/11/2018 17:06

Interims say production 62% oil, so 38% gas, gas price is doing well, both UK and now Holland will be short of gas. And it could easily get colder.

[wbodger] 14/11/2018 11:06

DNO won't be bothered with getting to 30% from where they currently are (28.22%) and if they subsequently bid within six months they would have to match any offer they do make now. So they might let a glut in oil take the share price below £1.25, when a £1.45 bid might look attractive. They are presumably banking cash from Kurdistan for the time being.

6 months have elapsed so that £1.25 April tender no longer dictates what they could bid. (Not that they are ever going to get Faroe for £1.25/share.)

Even more than usual this will be determined by large holders who might welcome the chance to switch funds into other bombed-out opportunities. DNO offering cash into a receptive market might be welcomed.

On a tangential note, PMO have plunged back into the nineties and ENQ to the mid twenties. It pays to be debt-cautious.

[oli12] 14/11/2018 09:26

It’s amazing how quickly this has re rated. Potentially a good buying opportunity.

[vikingbhoy] 14/11/2018 09:24

DNO can just buy at 125 to get over 30%, put in a lowball offer of say 150-160. If they dont get 100% of the shares they might be ok with that.

[oli12] 14/11/2018 09:18

Bit of an over reaction IMO - will this lead DNO to re-evaluate it’s position. After all 125 is a number they like, not that they can buy Faroe for that however it provides a lower starting point for any offer.

[wbodger] 13/11/2018 21:19

The Brasse Extension was due to drill back-to-back with Rungne I seem to remember.

One Operational Update might cover them all: Rungne, Brasse Extension, Plantain, Cassidy.

[rogerlin] 13/11/2018 07:53

This must be the Cassidy. Also tugs listed to move the TO Arctic, it's all go now.

[wbodger] 13/11/2018 00:12

Hagland now shows 4 AHTSs booked for R/M T/O Leader.

Also, Cassidy looks about to start, using a jack-up rig:
hxxps://www.offshoreenergytoday.com/spirit-energy-granted-drilling-permit-for-cassidy-well/

[oli12] 12/11/2018 18:03

The price has fallen back from recent highs, mirroring the oil price drop, this is a long term hold for me, I would not want to risk trading this and miss being IN when DNO strike. I still think a T/O is likely in the next 18 months, it’s a matter of when not if, you just need the one thing many lack.... patience.

[xxnjr1] 12/11/2018 09:01

09/11/18
MAERSK LIFTER
Azinor Catalyst
R/M TO Leader , D/D 14
13/11/18 GBP 6250

09/11/18
NORMAND PROSPER
Azinor Catalyst
R/M TO Leader , D/D 14
13/11/18 GBP 7000

Agar-Plaintain will be about a 51 day well then, as re-spud 23/9

[rogerlin] 10/11/2018 07:42

Does include a side track I think and had to be re-spudded so who knows. No speedy drill ships here!

[vikingbhoy] 09/11/2018 22:04

Isn’t Agar/Plaintain overdue now? Results early next week?

[yasrub] 09/11/2018 17:43

I've added today - sector a sea of red. Might have pulled the trigger too early but this weakness could play into DNO's hands and as our 'current leader' has said the next 12 mths is busy trying to increase shareholder value.

[vikingbhoy] 02/11/2018 11:30

No, that would be total production in Kurdistan, they get 75% of that on the Tawke licence where all their current production in Kurdistan is. They are currently drilling on Baeshiqa where they have a 32 percent stake, I have very high hopes for that one, but we should have results next month.

The cash flow is high in Kurdistan because of the high political risk, with the risk coming down it's a very profitable arrangement.

[wbodger] 02/11/2018 11:18

FPM should be only too pleased to accomodate a big shareholder with that sort of cash flow and ambition. I would like them to stay independent but ... hmmm.

[wbodger] 02/11/2018 11:15

Do you know if the 130,000 is their 70% entitlement ? In which case the fields must be pumping near 200,000 bopd. Out of uncertainty I've edited my post.

I just think major oil companies will look at those numbers and be doing their sums.

[vikingbhoy] 02/11/2018 11:09

I would expect DNO to increase production beyond 140k at least, possibly 150-160k. DNO is flush with cash, question is if they want to put in a bid on Faroe before the Rungne results? If Rungne is a success, DNO would have to raise more cash to put in a bid in the immediate future at least.