The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Anyone know expected duration of this drill ??
Steady news flow..strong cash position and heavily subsidised exploration costs..all good stuff imo
sold out at a loss !
Finally some one has worked it out !! just the supermarkets now and all will be well again.
Thanks Isen - I think, ha ha!! - I was looking through rose tinted glasses - trying to convince myself to hold a substantail holding - whilst worrying about another wildcat "dry hole"
I thought the same initially but if you look closer FPM has over $250m in liabilities. Ordinarily that wouldn't be a problem especially in a cash rich company like this but in the current oil price environment that's too much liability to have in my opinion. Its not trading at a discount to cash so not an opportunity yet.
Looks to be heading towards that $20 dollar prediction. Surely can't stay this low for long......
Market Caps are looking bizarre in this market. We now have FPM with no debt at £134m and in descending order ENQ at £118m, PMO at £113m and IAE at £89m. All three struggling with development debt. FPM at 9-10k of production (split 55/45% oil/gas) has 70% of gas hedged in 2016 but only 33% of oil hedged for Q1/2016. Institutional Investors are onboard, so it would infer our MC is about right and purely driven by POO, rather than a debt burden difficult to finance. Hoping for market relief (POO) prior to drill results - as any disapointment will not go down well (no pun)
Good RNS...look forward to a steady rise here
Blackstone purchase more shares Rns out today
No way of knowing I'm afraid - but seeing the drop this morning I would guess sells. Faroe are a fantastic company caught up in a race to the bottom of oil price. very frustrating !
Anybody any ideas whether these are buys or sells?
this looks like really good value to me. Low cost operation well funded with significant tax incentives for exploration. Bought in this morning. GLA
this looks like really good value to me. Low cost operation well funded with significant tax incentives for exploration. Bought in this morning. GLA
When an end like that would have the sp rocket 50%...... Faroe is a strong company and has held really well compared to most others. Our day will come.
some big trades there.
Dipped my toes in again yesterday, as sub 55p was just too tempting. Hopefully we are bouncing along the bottom now and an uptrend is statistically more likely. Especially as II buying has been taking place and broker re-itteration of circa 100p. it wouldn't surprise me if an aquisition is in the offing as growth would be better served by purchasing reserves or producing assets than drill bit at present. Certainly in the UK sector.
Tom Cross highlights appetite for North Sea deals MARK WILLIAMSON / Saturday 21 November 2015 TOM Cross has said the Parkmead Group he runs maintains its appetite for acquisitions as it looks to take advantage of opportunities created by the crude price slump. Parkmead lost £31m after tax in the year to June during which the fall in the oil price took a heavy toll on profitability. The Aberdeen-based company wrote £13m off the value of the Athena field to reflect what it described as the collapse in the Brent crude price, from $115 per barrel in June last year to around $65 at the end of the financial year. The price has fallen to around $45/bbl in recent weeks.
Always difficult to call the bottom - your purchase is at a significantly better price than my average, so although it smarts, its not a bad purchase. GL
Tend to agree. FPM has been over punished in my opinion after Blink duster. Company has been buying assets and one of the few still with a drilling programme, barring the big operators. Perhaps the Njord 2016 potential closure for upgrades is jaundicing the viewpoint. Accumulating myself again, although in to deep and should play PMO. or sell everything but my Investment Trusts !! GL
18 months of falling oil prices seems to be historically the norm when it falls, but can we be sure whether norm is predictable? Striking oil is the name of the game. After a terrific purple patch a couple of years back they seem to have hit an equally terrifying barren phase. The luck will turn again no doubt, but the market wants it now and until then will continue to drift.
ive read it again and can see its a dry well. ive taken a look at the interims and it all looks good for a 2-3 year hold here. plenty of cash, good management and about 30% of the stock in free float with quite a few institutions involved. im quite heavily weighted in gkp so the low political risk environment is also a big seller to me. 10000 bopd at all in $22 cost . hopefully ill pick up my 66 p order
Why the drop?
My risk !!
Many thanks beanup. Do you know there break even costs pet barrel? I've seen $22 somewhere but can't remember where.