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FPM Faroe Petrol.

160.40
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Faroe Petrol. LSE:FPM London Ordinary Share GB0033032904 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 160.40 160.00 160.40 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Faroe Petroleum Share Discussion Threads

Showing 10651 to 10673 of 11025 messages
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DateSubjectAuthorDiscuss
04/1/2019
13:40
Don't listen to the obvious DNO bid rampers.
I am now heartily sick of them. The filter button is a godsend!!
Make uo your own minds.

redartbmud
04/1/2019
13:10
Bountyhunter:

If You look at the Faroe message above You will find the following sentence:

"If the offer at any time becomes or is declared unconditional, DNO must keep the offer open for acceptsnce for at least 14 days".

It becomes unconditional st 50%. I think we all agree on that one.

But declared?
That is why I think DNO can declare it to be unconditional, and if so it will happen latest at 18. Jan.

oto1
04/1/2019
12:39
Don't think so but it has been suggested differently, however if that is the case I would like to know where in the takeover code it says that.
bountyhunter
04/1/2019
12:34
Hashertu

I think You're right.
My question is if DNO can decide to make the offer unconditional, and thus keep the shares offered.
I know it will be automatic if they achieve 50%, but can they decide to make it unconditional with lower acceptance?

oto1
04/1/2019
12:34
hashertu, that is my understanding also but others have suggested DNO could hang on to the acceptance shares even if the offer fails, not sure either way now but have not experienced the hanging on bit
bountyhunter
04/1/2019
12:30
Thegreatgeraldo

From my point of view DNO would be the first obvious choice..
I value the share to 25-30 nok, current share price around 14.

SPM1 analyst yesterday said approx the same, naming akerbp and Lundin as alternatives.

I'm not to familiar with uk market, but Genel would be a possibility and possibly also GKP.

My point is that expecting full market value today is over the top.

As a DNO shareholder I would be very disappointed if DNO bought a company at a price where the upside is close to none, and downside is 50%.
I really hope they stick at 152 as DNO will earn loads of money anywsy if oil price again goes to 70.

oto1
04/1/2019
12:20
This my understanding of the situation, having made a few enquiries to alleviate my concerns.

If the offer lapses, and is not declared unconditional, any shares that have been tendered as acceptances are returned to the original shareholder, and business continues on as usual.
DNO cannot buy those tender shares, once the offer has lapsed, for 12 months (and that would trigger a mandatory bid again).

The number of tender shares plus those owned directly by DNO must exceed 50% plus one for the offer to go unconditional.

hashertu
04/1/2019
12:05
My best advice to you Rally is to not give advice. Not many of us want to take on the political risk of DNO shares for sure. Yes DNO clearly want to derisk to a degree by buying politically safe NS Faroe assets.
bountyhunter
04/1/2019
12:04
Kurdistan isn't the North Sea though, is it? Surely that's the whole point of DNO attempting to buy FPM.
thegreatgeraldo
04/1/2019
12:02
My best advice to the Faroe shareholders is to swap their Faroe shares to DNO shares. The Faroe assets will contribute to a de-risking of DNO's Kurdistan operation and I see a 50% upside in the DNO share price this year if the Brent price reaches a more decent level - iet's say $65
If DNO strikes oil at the Baeshiqa field the upside is even better.

rally dno
04/1/2019
11:43
oto1
4 Jan '19 - 11:38 - 1986 of 1986


I would never buy Faroe above 152 at present time while there are so many other bargains out there with current price way below 20-30% of "full value".

...Cool. Care to pass on a few of these bargains? Assuming DNO are forced to increase their offer to win, there'll be a fair bit of cash loking for a new home......

thegreatgeraldo
04/1/2019
11:38
Interesting to see that while the management is complaining about the low share price their fonancial advicers are selling with both hands.
BMO Capital Markets sold their last 10k yesterday.
At 1,478. To DNO..

I would never buy Faroe above 152 at present time while there are so many other bargains out there with current price way below 20-30% of "full value".

I still believe DNO will take what they get at 152 and settle for that.
At least for the next year.

My only question is if they can do that under uk regulations if they don't get the 50% needed under mandatory rules?
Can they do it if they declare the offer unconditional?
If yes, that will be the next step.

oto1
04/1/2019
09:34
I feel compelled to write my first FPM post! I am a long term UK PI (since 2008). There has been a lot of pain holding oil stocks long term. Now there is some chance of a return on investment in the next 1-2years for the patience. Only to be mugged in the street at night for 152p/share. Digging my heels in here...
dorsetlad
04/1/2019
08:44
The oil price has indeed risen as you say but don't expect DNO to mention that as they only produce negative news, also they won't mention the share price has risen since they made their low ball offer They could just take the independent valuation and even offers the bottom end of the range to secure the deal
harry rags
04/1/2019
07:35
That's how I see it gersemi. DNO are playing a game of poker. If they want this over quick they must raise their offer to a decent level, if not it will drag on forever and a day!
bountyhunter
04/1/2019
07:28
It looks like DNO is determined to buy FPM and that they've no intentions of throwing in the towel. It's akin to shadow boxing at present
gersemi
04/1/2019
07:26
Absolutely Harry.

Note that DNO have got just another 0.6% yesterday before the price rose to above 152p so they now have 30.6%. Still way off what they need even including the small number of acceptances received for their inadequate and derisory offer.

bountyhunter
04/1/2019
04:11
Bountyhunter I note that DNO asked for an independent valuation then when they get it the completely ignore the valuation and stick to the derisory offer. I think they may have two more reluctant increases before this goes through IMHO
harry rags
03/1/2019
23:33
Cheers, there are a fair few from Scandinavia visiting the thread now that's why I asked.
I see the bid not anywhere near going through after yet another 14 days after which DNO will in my opinion up their offer, it's just a question of whether they want more pain or prefer to make a realistic offer at that time.

bountyhunter
03/1/2019
21:29
Fair enough, but may I ask are you located in the UK or elsewhere?
bountyhunter
03/1/2019
20:25
Bountyhunter- I have no skin in this game. Just interested to follow and discuss what is a fascinating turn of events in the North Sea.
arthurs1
03/1/2019
20:20
Your English is pretty good I must say ;-)
bountyhunter
03/1/2019
19:31
Ed Correction: i will sit back and watch events unfold .
reseng
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