Faroe Petroleum Share Discussion Threads

[manrobert] 17/12/2018 14:09

sorry article not in times got mixed up with mail on sunday.

[harry rags] 17/12/2018 12:49

While we may not get to $100 a barrel the costs have come down so $70/75 may be the old $100

[sludgesurfer] 17/12/2018 11:58

FWIW I agree that $50-$60 remains something of a floor and have put my money where my mouth is by buying two of the more highly leveraged oil plays (ENQ and PMO) this morning. However, I very much doubt that we'll ever see sustained +$100 again which led to a high average $/2P bbl figure.

[jasper2712] 17/12/2018 11:29

The oil price as it is at the moment can only rise. DNO know this and are chancing their arm.

[sludgesurfer] 17/12/2018 11:19

jasper,

The problem with using average 2p reserves prices as a comparison is that most of the M&A deals upon which they are based were done in times of significantly higher oil prices.

[funtimejonny] 17/12/2018 09:59

I cant find this story in the times online. Can anybody post please?

[jasper2712] 17/12/2018 09:51

225p only gives the average value fot the 2p reserves. This is not an average company . It has more than average potential and this price doesn't even reflect this.

[manrobert] 17/12/2018 07:34

same story in times

[manrobert] 17/12/2018 07:34

same story in times

[harry rags] 16/12/2018 20:54

225p would be about right and the deal would go through at that. If it is not DNO it could be an agreed takeover by someone else or for those with deep pockets take it private

[sludgesurfer] 16/12/2018 19:39

https://www.dailymail.co.uk/money/markets/article-6499863/amp/Hostile-bidders-UK-oil-firm-told-stump-900m.html

[hamp] 16/12/2018 14:07

Read Sunday Mail very interesting re fpm.Hamp.

[funtimejonny] 16/12/2018 12:02

Me too...my modest holding won't have any impact. Can sell for a tad more than present offer. Will wait and see if DNO up the ante.

[bountyhunter] 16/12/2018 11:31

It's more of a take it or leave it rather than a vote, I'll be doing nothing.

[funtimejonny] 16/12/2018 10:31

I received a notification from my broker that voting on this offer has to be completed imminently. I guess that puts the onus on DNO to enhance their offer which (it seems) will be rejected?

[whackford] 16/12/2018 07:44

Last Friday's advice in the Investors Chronicle was "reject the 152p offer".

[jasper2712] 13/12/2018 19:34

The decision should not be that difficult. It could easily be made tomorrow based on the true value and potential of the company. It will only be 18 months max until this company is awash with cash. DNO would not be able to afford the company in 12 months time - they know it.

[redartbmud] 13/12/2018 19:00

The Christmas/New Year holidays are a little inconvenient.
If the big boys need to be in the office ob 2 January, their fees will likely be x3or 4 normal rates.

[bountyhunter] 13/12/2018 17:20

I didn't even read as far as that! No intention of taking any action.

[wbodger] 13/12/2018 17:17

Faroe's Board are doing what (imho) Ithaca's Board did not do, making sure all
shareholders get offered as much as possible for the hidden value not previously reflected in their share price. I try to ignore the bs as much as possible.

There are only effectively eight more trading days, and people have to make a decision over Christmas. Nominee companies must be telling clients they will apply defaults by Friday 28th or earlier (New Year's Eve being a short day, probably empty. Christmas Eve Monday is also scheduled to close at 12:30.)

Acceptances to the Offer must be received by 1.00 p.m. (London time) on 2 January 2019, being the first closing date of the Offer, unless the acceptance period is extended in accordance with the Offer Document.

(Please challenge if I'm wrong.)

[corrientes] 12/12/2018 20:07

Yes, Wbodger . you're quite right. I was confusing DNO with Delek.

[hashertu] 12/12/2018 17:37

Based on RNSs since the offer period began (and assuming that I can add properly), shareholdings are:

DNO 28.7%
Declared holdings: 45.1% which includes FPM board, 1.65% and EBT 0.74%
Change since offer date, -4.3%
Not declared, by calculation, 26.2%

FPM board share options (not in issue) 11.2 million (3.2% of current shares in issue)

[vikingbhoy] 12/12/2018 16:19

Dno didn’t really pay anything for Origo since they only had exploration assets and were out of funding