Share Name Share Symbol Market Type Share ISIN Share Description
Faroe Petroleum LSE:FPM London Ordinary Share GB0033032904 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  +2.80p +2.03% 141.00p 655,397 16:35:12
Bid Price Offer Price High Price Low Price Open Price
141.20p 141.80p 141.80p 139.40p 139.80p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 152.92 -13.74 -3.10 517.0

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Date Time Title Posts
18/8/201811:49FAROE PETROLEUM - Oil and Gas E&P in Norway, UK and Ireland1,124
04/7/201817:04FAROE PETROLEUM - Big Exploration Acreage - Big upside?8,088
19/2/201510:51L2 - Observations, comments and screenshots1
15/8/201408:49BUY in Faroe Petroleum(FPM)1

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Faroe Petroleum Daily Update: Faroe Petroleum is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker FPM. The last closing price for Faroe Petroleum was 138.20p.
Faroe Petroleum has a 4 week average price of 135p and a 12 week average price of 133.40p.
The 1 year high share price is 159.40p while the 1 year low share price is currently 82p.
There are currently 366,642,990 shares in issue and the average daily traded volume is 776,339 shares. The market capitalisation of Faroe Petroleum is £516,966,615.90.
oto1: DNO's Kurdistan operations is going very well, and we may actually see an export of 150k boed at year end. That is up from 106k/d in average 1h, and current production of 121k/d. So share price in DNO I believe has just started. In our "community" we all believe that there will be an offer for Faroe in November, either all cash or partly DNO shares to those who prefer that. I would prefer having the settlement in DNO shares, but guess it is equally difficult to trade shares at OSE for UK shareholders, as it is for Norwegians to trade on LSE/AIM. This will be some interesting months. PS: DNO's cash position is definately building each month, and an all cash offer is within reach. DNo also currently hold 35 mln own shares.
churchill2: Hi Harry Odd that the two prices are at such variance. DNO at its high in Norway and the Faroe share price looking rather miserable.
harry rags: Vikingbhoy Hoping for £1.70 / £1.75 per share however as the time gets nearer I would expect the share price to rise nearer these figures so there may not be a 20% premium in October/ November however time will tell
vikingbhoy: According to Norway`s biggest bank DNB, DNO should be able to make a cash offer for Faroe in November at a 20% premium to the current share price and still have 200 million USD in the bank
oto1: Just my comments to some points: - DNO's largest shareholder is RAK Petroleum having just over 40% (not 30). - DNO obviously voted against re-election of John Bentley, and I believe this is because of the fact that the board obviously has worked against their new shareholder, by far their biggest. The board has not offered DNO a seat in the board, and has actively hired Rotschild to "defend" the company against it's biggest owner. In the future I see 3 options: 1 (Not likely) The 2 parties talk together and gets to an agreement of merger in one way or another. 2 (likely): after the 6 months grace period DNO continues to but shares in Faroe, and when getting close to or above 50% starts to change board members. In the end dictates the merger / take over. 3. (not likely) DNO does nothing more. just sits on the share post and sell it when price is sufficient higher. No. 3 may be more likely if share price of FP becomes "too high" whatever that number may be.
thedudie: I guess DNO could place a chunk of shares for cash fairly immediately. Their shares have appreciated 50-60% this year already and 20-25% since they bought approx. 28% of Faroe. Hard to work out their multiples but if it could be sold as earnings/production/reserves enhancing then anything is possible and the fact Faroe has gone up in price may be irrelevant. Who knows. Having said that it would have to be a price the management are comfortable with - they can probably see a rapidly enhanced share price over the next few years as production builds and know the effect it would have on their options! And Faroe without its management may not be worth having. td
ed 123: Yes, depends how it is viewed. Atm, DNO have $400million bond borrowing which (if they don't want to buy anything big) they don't need, since they have $520 million (and rising) cash. So, if they do go for a refinance, it means they want cash for some new reason. That's presumably why Faroe shares put on several pence today? My own speculation and I may be wrong, but I'd guess that DNO have spoken to the other big shareholders to ask how much they'd want to sell. If DNO think they can get enough support (say another 22%, to take them over 50%) at an acceptable price, then they'll go to Faroe's management and ask for a recommendation at that figure. Faroe's management would want to know that DNO could raise the funds to complete and that may be where we are now? DNO may be going to the bond market so they can show Faroe's management they have sufficient funds? I should emphasise that the above is just my own speculation. I could easily be wrong. IF there is to be a takeover, do you have a price in mind that big shareholders and DNO might agree on? I'd be very happy with 150p and it may be as low as 140p. The share price didn't stay above 140p for long and the big money often 'guesses' prices fairly accurately.
gersemi: RNS - interesting Wednesday 04 April, 2018 Faroe Petroleum PLC Response to DNO Announcements RNS Number : 8724J Faroe Petroleum PLC 04 April 2018 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION THIS ANNOUNCEMENT IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE") AND THERE CAN BE NO CERTAINTY THAT AN OFFER WILL BE MADE, NOR AS TO THE TERMS ON WHICH ANY OFFER WILL BE MADE THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR IMMEDIATE RELEASE 4 April 2018 Faroe Petroleum plc Faroe Petroleum ("Faroe," "Company") notes the purchase of 56,355,825 shares in the Company representing 15.37% of the Company's share capital by DNO ASA ("DNO") from Delek Group Ltd ("Delek") at a price of GBP 1.25 per share and DNO's subsequent statement that it has no intention of making an offer for the Company. Faroe also notes the announcement by DNO of an intention to acquire up to 10% of the outstanding shares in the Company through a reverse book building process. The Faroe Board has not had any discussions with DNO in relation to its purchase of the shares in the Company and its intention to acquire an additional shareholding in the Company. The Faroe Board further notes that it has had no discussions with Delek in relation to the sale of its shares in the Company. The Faroe Board considers that the GBP 1.25 per share price at which DNO purchased the Faroe shares from Delek substantially undervalues the Company and its prospects. HTTP://
ed 123: I wouldn't knock Delek management. They work for their own shareholders and do a good job. Delek appears to be thriving. Share price is very close to its all time high and is up by about 50% from a year ago. They make a quick 40% gain from their brief holding in Faroe and they move on. Yes I also think it likely that having bought Ithaca, they made advances towards Faroe but were rebuffed. Now we have DNO with that 15%. With their major producing field in Kurdistan, DNO needed some balancing investment in a safer part of the world, imo. Faroe brings that. DNO has some history of merger (RAK Petroleum), so maybe the relationship will one day become deeper than the initially intended supportive arrangement? Hades and Iris news on the same day - very pleasant to read after a lie in and late start by me. Looking at Faroe's share price, 118p, up from an oil price induced low of about 45p, I wonder if a big find (Pabow?) might see it back above 200p? (All time high, 220p?) There is so much going on at Faroe, with its exploration, development and deals, it still looks a good growth prospect to me (subject to the oil price holding up).
gary38: Hurricane Energy and EnQuest among the few 'buys' left in oil sector - MacquarieShare 11:33 03 Feb 2017"Hurricane offers 82%+ upside to our target price from the current share price, and has the clearest near-term tangible value creation opportunities, in our view.oil platformValuations in the oil sector have caught upIt is harder work picking winners in the oil and gas sector now that crude prices have steadied and share prices have climbed, so says Macquarie.Kate Sloan, analyst at Macquarie, most share prices are close to fair value and as a result many in the sector have been downgraded.Cairn Energy PLC (LON:CNE), Faroe Petroleum plc (LON:FPM), Ithaca Energy Plc (LON:IAE), Premier Oil PLC (LON:PMO) and Tullow Oil plc (LON:TLW) are all relegated to a 'neutral' rating.Three of Macquarie's 'top picks' retain their 'buy' recommendations; Hurricane Energy Plc (LON:HUR), EnQuest Plc (LON:ENQ) and Africa Oil Corp (TSE:AOI).Of the three, Hurricane Energy is deemed to have the clearest value opportunities."Hurricane offers 82%+ upside to our target price from the current share price, and has the clearest near-term tangible value creation opportunities, in our view."Further exploratory drilling (ongoing) and progress on the Lancaster development could add significant value, building on the success the company enjoyed in 2016."Macquarie has a 90p price target for Hurricane (current price: 51.25p).EnQuest, meanwhile, is Macquarie's pick for further oil price leverage combined with low risk project progression."Although the rest of the sector now reflects a much higher discounted oil price than it did four months ago, EnQuest is still discounting US$63/bbl, the same number it was back in August 2016," Sloan said."We believe the valuation gap will be narrowed in the coming months once the market starts to believe in Kraken delivery."Macquarie has a 79p target price for EnQuest (current price: 46.34p).Sloan added that Africa Oil's has very attractive upside through de-risking the discoveries in Kenya's South Lokichar basin, where it partners Tullow.
Faroe Petroleum share price data is direct from the London Stock Exchange
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