Faroe Petroleum Share Discussion Threads

[vikingbhoy] 27/11/2018 09:25

I would imagine that DNO wants a cash bid without having to raise funds. that would put 2 out of reach for them, but 1.70-1.75 should be doable.

[oli12] 27/11/2018 09:24

DNO might walk away however IMO they are unlikely to do so before sweetening the offer. I don’t expect £2 however £1.75 is better than the current bid. One imagines DNO has canvassed the major holders so they know what their exit price is - given the down turn in oil and subsequent share price drops many of the larger funds will need to get the numbers up for year end this might mean cashing in their FPM chips for short term gain.

[whackford] 27/11/2018 08:57

Sludgesurfer many thanks. Time to hang on to the shares, then.

[sludgesurfer] 27/11/2018 08:23

If you google "FT lombard Faroes" clck on News and click the top link, you should be able to view the article bypassing the paywall. Clear your cache & try again if not.

[whackford] 27/11/2018 07:49

Can you insert the text please, acknowledging copyright to FT?

[sludgesurfer] 27/11/2018 07:43

Thanks. Here's the piece:

[oli12] 27/11/2018 07:21

Nice piece in today’s FT see opinion Lombard. This shares many of the views already posted here.

[thegreatgeraldo] 26/11/2018 19:53

hashertu - quite agree. Trouble is, the instos who will decide the outcome don't all work on the same basis

[hashertu] 26/11/2018 19:41

For a trade buyer, who has an attention span measured in years, not weeks, the key metrics ought to be the price for the 2P and 2C reserve/resource, plus other assets.
On this basis, the BoD think a fair price for shareholders should be at least £2.50 and probably north of £3. This does not assign any premium to the ability of the existing team to successfully find, and then monetise, new fields.
I will hold on for £2.50 if the opportunity arises.
I will not take DNO shares.
The calculations of asset value (oil/gas/net cash) per share given in the rebuttal RNS tally with mine (which is as it should be) based on 400m potential shares.

[jasper2712] 26/11/2018 19:39

You only need to compare the offer based on the value of the oil in the ground. Why should Faroe accept much less than the average that has gone before. Any increase by DNO will have to reflect this let alone the prospect of 35000 barrels/day in 2 years time.
Those who sold out at 125p either couldn't see the woods for the trees or had bought in lower and exited after making a quick buck.

[bountyhunter] 26/11/2018 19:22

Try telling that to tgg as well! ;-)
I am going to take your advice and leave it for now,
I have more important things to do, no doubt tgg will carry on though and be determined to get the last word.

[wbodger] 26/11/2018 19:20

Stop posting, bh, you don't have to win arguments. Take a time out.

I'm going to. (Offline until tomorrow anyway !)

[thegreatgeraldo] 26/11/2018 19:18

Why? You've looked it up & claimed that the Brent price was lower in April than it is now

[bountyhunter] 26/11/2018 19:09

give it a rest, it was early April, at which time I've already clarified in answer to Vb that no there wasn't actually a lot of difference despite the recent steep decline, happy now?

[thegreatgeraldo] 26/11/2018 19:05

bountyhunter
26 Nov '18 - 18:53 - 1474 of 1476
0 0 0
Brent looks to have been lower to me even

Brent is around $61 right now...... you reckon it was lower in April?

[oli12] 26/11/2018 18:55

Each to their own, some voted for Brexit and others did not, sadly the end result will be something that pleases neither side. Back to FPM - those that bought FPM shares for less than £1 will likely bank a nice profit and accept the offer, (not all) others will hold out for more. The majority as always will decide the outcome and the rest of us will have to accept this - such is life.

[rogerlin] 26/11/2018 18:54

15% was the single transaction with Delek who made a profit on the deal.

[bountyhunter] 26/11/2018 18:53

Brent does look to have been slightly higher even if not by all that much given the recent steep decline.

[vikingbhoy] 26/11/2018 18:47

Bounty hunter, the price of oil was higher when DNO bought the initial share than it is now

[bountyhunter] 26/11/2018 18:39

I'm not repeating myself, I've already answered that.

[thegreatgeraldo] 26/11/2018 18:38

I'm not "pushing" this offer, just pointing out they may not be far away. & stating the rather obvious point that holders of 28% were quite happy to take 125p

[redartbmud] 26/11/2018 18:32

For the sake of clarification on the 30% rule:

1.4
Mandatory Offer (a “Rule 9 Offer”)
Notwithstanding that purchases may be permitted as referred to in paragraph 1.2
above, if an offeror either:
A. acquires (whether or not pursuant to a series of transactions or over a period of time) an interest in shares which, together with shares in which the offeror is already interested, carry 30 per cent. or more of the voting rights in a target company; or
B. where it is interested in shares which carry 30 per cent. or more but less than 50 per cent. of the voting rights in a target company, acquires an interest in shares in that company which increases the percentage of its voting rights,
then that offeror will, except with the consent of the Panel, be required to make a “mandatory offer” for all of the ordinary shares in the target company not already owned by it.
There are limited purchasing freedoms for controlling shareholders and to allow shareholders to take up their entitlement under secondary issues.
etc