The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Don't know about long term hold on AIM. i have held a core holding of FPM since 2008, when it was 70p and a Market Cap of £70m. Since then it has reached the dizzy height of over 200p twice. Over the last few years, like most E & P it has descended due to market forces. I like the business model and the company has done all the right things with signifant production bolstering its exploration. Switch to Norway drilling all to the good. Potential risks - value not always reflected in share price apart from obvious risks of drilling and production hits. Holding 100,000 at present - but thats my risk!! GL but DYOR
hi all, im looking for a long term hold oily. ive been in some stinkers so im looking for one with no political risk and some cash, hence im taking a look at faroe. Id appreciate if someone could fill me in on the fundamentals here and good points and potential risks. cheers mpg
https://uk.finance.yahoo.com/news/glencore-plc-ithaca-energy-plc-090356523.html
An upcoming wildcat to be drilled by VNG and its partners at the Blink prospect in the Norwegian Sea is likely to prove make or break for a standalone development of their Pil & Bue discoveries, according to an analyst.
V Impressed with interims today. new article on advfn newspaper if anyone interested. I rate Faroe as the best buy in the North Sea, cash and production is key. When sentiment comes back to the sector this is the place to be, will pick up assets from distressed sellers too.
Faroe has announced that the Shell operated Portrush exploration well is dry and will be p&a. As always there is plenty of positive spin being generated saying that there may be more upside in the rest of the licence and that finding the reservoir is a great help but the main positive is that it cost Faroe less than £1m net of tax. Much more importantly is the follow up programme on Pil/Bue which means that Boomerang and Blink wells are going to be key.
good to sea that the well came in significantly under budget
Duster
good bolt on acquisition for the company. Didn't pay over the odds either, looks good.
So now there are two wells in the ground - Looking forward to results
With circa 3000 b/d output to FPM - anyone know the likely time period in Q2 2016, the Njord A will be off station for re strengthening?? Bleak at present, being back to low 70's, especially as we are drilling
Just written a new piece on Faroe online, take a look if your interested. So much appraisal/exploration upside coming in a fully funded drilling campaign. If a few of these come good we Faroe leave double figures well behind, with a solid production base at well hedged prices and cash in the bank. Great times ahead for Faroe. GLA. http://www.longovershort.com/2015/07/faroe-petroleum-exciting-exploration.html
bought around 1 million shares......second largest holder after Dana(18%) - but are they acting on someone else's behalf is the question.
Blackrock increasing over 11% = very strong takeover target !!
Very positive RNS - and must be looking very tasty to a predator ????
great RNS. costs are very low now and another exploration well has been added.
Excellent update....nothing to complain about....slow and steady as she goes. Still in my view a potential takeover target.
Drilling setback for Aberdeen's Faroe Petroleum: Faroe Petroleum has suffered a setback after what it described as a high potential well off Norway proved to be dry.
but there is plenty more in the pipeline(no pun intended) - not every drill can be successful - thats the way it is but at 7.5% share it really means diddly squat for the LT.
Yes, much more important wells coming up. Fingers crossed.
But only 7% Faroe. hardly shattering, and the news has been leaking out over the preceeding days. Two wells to follow at Pil with 25% share wiil be slightly more important. In the old days this page would be overun with comments. Actually its always been quite subdued here now I come to think of it. Seems like painfullyslow progress, but no point in rushing things at the moment. Our bank govenor says 'enjoy deflation while you can!' Thats quite ambiguous in itself.
Graham Stewart, Chief Executive of Faroe Petroleum commented: "I am very pleased to announce the spudding of the Bister exploration well to follow up on the significant Snilehorn discovery announced in 2013, located in the same licence and close to the producing Njord Field infrastructure. This is the second well in our 2015 exploration programme, following the successful completion of the Shango discovery earlier this month. During the coming months we also expect to start drilling the first of two follow-up wells at the significant Pil discovery (Faroe 25%) on the Blink and Boomerang prospects." cheers buzz
I just bought a bit here! :) Jasmine
Great movement this year so far. Really strong balance sheet compared to peers and an exiting couple of wells this year.
it is out