Faroe Petroleum Share Discussion Threads

[redartbmud] 10/1/2019 07:56

Oslo, 10 January 2019 - DNO ASA ("DNO"), the Norwegian oil and gas operator, announces that it has acquired a further 75,925,066 Faroe Shares, in aggregate representing approximately 20.36 percent of the ordinary share capital of Faroe Petroleum plc ("Faroe") in issue on the date of this announcement for between 159.8 and 160.0 pence per Faroe Share (the "Additional Purchases").

As a result of the Additional Purchases, DNO now owns or has acceptances for a total of 271,456,134 Faroe Shares, representing approximately 72.80 percent of the ordinary issued share capital of Faroe.

The juggernaut rolls on remorselessly and relentlessly.

[bountyhunter] 10/1/2019 07:25

I couldn't help grimacing when I read that - it sounds like something out of Star Trek to me! All over now.

[bountyhunter] 09/1/2019 21:18

I would sell in the market now for 160p as although you can still accept the updated 160p offer (it may take a day or two for that to come through if your holding is in a nominee account) you will only be saving the dealing fee which is normally only about a tenner. I reluctantly sold today in the market for that reason. If you continue to hold your shares will almost certainly be compulsorily purchased when DNO get > 90%

[mw8156] 09/1/2019 21:01

so what happens now to us who did not accept the bid; will we get bought out at 160p and how long to wait for the money?

[bountyhunter] 09/1/2019 18:38

I know it was a hostile bid here but it's been all too similar to IAE for my liking. Going back a bit further to VPC that seemed different as a decent price was paid with no animosity from what I recollect. Certainly if the FPM management team start up another company I would be interested if listed on AIM. If they do perhaps someone could update this thread so it doesn't go unnoticed. Meanwhile my trust lies with HUR which could be next although not until sometime after first oil I suspect.

Good luck to all regular thread contributes with their future investments. Cheers, bh

[fntc] 09/1/2019 18:24

Volume showing 153,351,762 shares today, now. I saw it was around 79 million just after the close.

[sludgesurfer] 09/1/2019 18:12

Yes. All the best and thanks for the spirited and generally good natured debate from knowledgeable posters over the years. Whilst im glad to reduce my exposure to oil for a while, some of my cash will be going to IOG if and when they resolve their funding in a sensible way.Cheers.

[ed 123] 09/1/2019 17:30

"Faroe concedes defeat ..."

[harry rags] 09/1/2019 17:16

Oil at $61 ah wellThanks to all the long term holders of FPM and your helpful contributions over the years perhaps we will catch you on some other bbAll the bestHarry

[bomfin] 09/1/2019 16:06

Ecuador. Oh!

[daniel levi bmd] 09/1/2019 15:21

FYI

Union Jack Oil & Gas. Little known fact. West Newton is a gas discovery. Target 0.25p-0.50p!

Dan
x

[reseng] 09/1/2019 14:56

Ooop meant purchased dno at share price Kr 12,5

[reseng] 09/1/2019 14:53

Catsick : gosh those bonds are a great rate for a company that has strct control of capex . While the diedhards 1 2 & 3 on FMP forum refuse to read the roadmap I purchased a bunch of shares at kr. 12.5 av and now 10 so days later trading 15,4 ca 25% . If they sold at 152 then value in Dno share would be ca 190 .
I admire loyalaty and especial long term invest strategy but not at any price. Reckon DNO has a good future for shares and I believethey achieve a share price about 22 - 25 this year.

[arcadian] 09/1/2019 14:06

Ecuador is the place to be this year.

[catsick] 09/1/2019 13:39

Dno have been very canny here not paid a penny more than they needed to get the deal done, I hold the dno 8.75% bonds and happy to see they are not wasting any cash, while giving me a small profit on my faroe shares ....

[bomfin] 09/1/2019 13:23

I know you know what you are doing though! Youve been at this quite a long time.

[bomfin] 09/1/2019 13:22

Gee! There is nothing up there that I would invest in.

[bomfin] 09/1/2019 13:09

Must be Guyana, Venezuela is totally stuffed. Sad day. Good luck with the next one.

[thegreatgeraldo] 09/1/2019 13:01

Obviously I'll keep half an eye on DNO reporting in the future - to see how this poorly run dodgy outfit they've just spent over £600 million on turns out. Maybe not as rubbish an investment as recent statements from DNO would suggest!

[thegreatgeraldo] 09/1/2019 12:28

Not Brazil...... north a bit...

[bountyhunter] 09/1/2019 12:25

that crossed my mind as well, but there are no posts from Brazil today yet

[ed 123] 09/1/2019 12:23

My FPM cash found its way to South America this morning....

That Bomfin's a crafty one! ;-)

[thegreatgeraldo] 09/1/2019 12:17

My FPM cash found its way to South America this morning....