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SORRY...should have gone to Specsavers, lol
For the benefit of new investors planning to buy into FPM and those that never read the rns ? Invstegate-RNS Monday 21st July http://www.investegate.co.uk/faroe-petroleum-plc--fpm-/rns/njord--hyme-fields-recommence-production/201407211414168730M/ Graham Stewart, Chief Executive of Faroe Petroleum, commented: "We are very pleased to have successfully brought Njord and Hyme back on stream, and that the work has been completed on schedule and within budget. With net production from these two fields at around 3,600 boepd prior to shut-in, they are important sources of production and cash flow for the Group, and they are expected to remain on production until mid-2016 before any further modifications are carried out on the facility. Once our recently announced Schooner and Ketch field acquisitions have completed later this year Group production will increase further. "The Halten Terrace area is proving to be a significant core area for Faroe Petroleum. We have interests in Njord, Hyme and Snilehorn as well as the recent significant Pil and Bue discoveries. The discovered resources across our licences in this area are now very material and also offer the potential for significant resource additions from the Pil follow-up wells in 2015 giving us the capacity to deliver substantial shareholder value going forward." Highlights · The Njord and Hyme fields have been successfully brought back onto production following the shut-in period used to carry out structural reinforcement work · Average production from Njord and Hyme prior to the 2013 shut-in was approximately 48,000 boepd (gross) and 3,600 boepd (net to Faroe) · The Njord and Hyme fields are expected to be on production until mid-2016, when the plan is that modifications to the facility will be undertaken in a yard to enable future drilling operations and an extended lifetime of the Njord field · In parallel, the partnership is carrying out a number of studies aimed at creating maximum value and extending Njord's life by many years · Group production guidance for 2014 remains at 4,000-6,000 boepd (with a further 3,000-4,000 boepd of economic production from the acquisition of interests in Schooner and Ketch, expected to complete in Q4 2014) The Njord and Hyme fields have been successfully brought back onto production following a structural reinforcement project, carried out on location, which has been completed by operator Statoil, on time and on budget. In July 2013, production from the Njord and Hyme fields was shut in for a period of scheduled repair and maintenance. During this period, and as a result of the introduction of a new structural integrity model, it was concluded that the deck structure of the Njord A floating facility needed to be reinforced before production could recommence.
Panmure Gordon very bullish - Faroe Petroleum with a 204p target. FPM down from May's high of 155p is grossly undervalued and a STRONG BUY http://www.standard.co.uk/business/business-news/market-roundup-weir-said-to-be-back-in-the-hunt-for-a-finnish-target-9623733.html BUY Faroe Petroleum Snap up Faroe, Panmure Gordon recommends. The broker is enthused by the positive news flow from the explorer — this time it’s that production is going to resume on the Njord A facility. Shares are 119p; target is 204p.
Probably explains why Malcy went a bit quiet on FPM, but he did say it was seriously undervalued none the less. Very welcome chance to get back in fully. Not many on Aim worth bothering with. I have scaled down to just this and CAZA now, both of which are held in the Junior Oils trust too. Be interesting to see next month if they topped up here too, dont suppose it is a notifiable amount yet though.
Lets hope their is no problems with start up and Njord/Hyme starts delivering well needed cash
pattern as recent days, hundreds of completely daft small AT trades. Malcy keeping us hooked to his blog by spinning out the mystery of telephone tag game he is having with GS. Be nice to know when if ever these ridiculous AT trades stop, the like of which I dont think I have ever seen on this scale. Havnt managed to buy anymore sub 116 today. might have to move the limit order up a tad
Technip have mobilised the Siam Daya 1 Construction Vessel to install a new dynamic umbilical onto the Foinhaven FPSO, to resolve the power outage of the East Foinhaven field. Would be nice to get some news on Njord, with regard to re startnig production. Lets hope it reflects on the SP.
there is a completely lunatic auto trader, doesnt care whether its buying or selling. Wonder if any hooray has thought to check that out. Hope it wont make all my buys invalid.lol
http://oilbarrel.com/news/faroe-petroleum-adds-more-barrels-in-the-norwegian-sea
For many shareholders, the current share price weakness is frustrating because it fails to reflect the financial and operational strength of the company and its ongoing successes with the drillbit in Norwegian waters – the odd duster is an inevitable side-effect of being such a busy explorer. Broker Panmure Gordon said the Bue and Pil news “confirms Faroe's strong track record" while Westhouse Securities continues to rate the stock is a BUY with a target price of 200 pence. Malcy is supposed to be speaking to GS today. This constant stream of small automatic trades is bizar. I can only think that with the recent placing it is has narrowed the current availability of buyers in the market for the moment, especially as we are in the silly season, so am taking advantage of the situation and buying a few at a time.
It would appear that I am not the only rabbit staring in to the FPM headlights. What's up doc! - give us some good news.
Six years of accumulating from 70p, with a similar Market Cap, reached the dizzy heights of 200p plus three times. Now have over three times the Market Cap and a descending share price. Surely II want a return on there capital, not withstanding strategic alliances. How about a better scam FPm and allow the SPto drop to sub 100p and announce a share buy back scheme. That will surely hack off the II that are not considering off loading Very disgruntled over my 100,000 gambits
Was checking this out with the Board yesterday. No news is no news. £1.149 to buy is'nt encouraging. I think an explanation of the thousands of small AT trades and subsequent dropping sp would not be unreasonable GS. Just saying 'I dont understand the share price' is not very convincing!
Five years - still waiting for FPs jingoistic statement - "focussed on creating exceptional value for its shareholders" to bear fruit. Bad luck with first operation, Statoil deck failure, sharing with dry hole partners, plus some dilution have all contributed to a depressed SP. Would be useful to see some spud dates, and 2014/2015 drill programme to convince myself and others that FP will "walk the walk".
super attractive spread, looking good from a chart perspective and an overlooked oil discovery. Just a matter of time.
Not sure about the overhang theory either. That's some overhang. I thought they raised more than they were after. Can only think it could be Blackrock dripfeeding the remainder of their stock. They signal they are getting out just after the placing, maybe quite difficult to do that when ints have just forked out £60 million for it. Realy are cluess some of theses Hooray henries with their clients wedge. Should get rns in a few days if that is the case.
It's the overhang from the 50M shares, once gone this will bounce strongly. Who knows exactly when it will be, but when it does... Very positive news today
As soon as we get over this 120.50 level we will be off :) http://screencast.com/t/wAzA6m7QBZ
Faroe has announced a discovery on Bue with an 18m hydrocarbon column which is very good but there is no connection between Pil and Bue which appears to have spooked the market. I would have expected with a successful well like this for the share price to have soared but for some reason the market is disappointed by the connectivity or lack thereof. I am going to get to the bottom of this and have calls into the CEO and CFO so will likely clear it all up on Monday, in the meantime I remain very bullish, I had a long meeting with Graham Stewart earlier this week which encouraged me no end. Todays numbers from Bue and a small upgrade on the Pil estimates give a middle of the range estimate net to Faroe of 35m boe which is 2m barrels more than the 33m boe that Faroe are carrying at the moment. More shortly as I really think this stock is seriously undervalued but want to double check before I press the button! - See more at: http://www.malcysblog.com/2014/07/oil-price-faroe-sea-lion-feed-thalassa-and-finally/#sthash.oGlASlG3.dpuf
http://www.malcysblog.com/2014/07/oil-price-faroe-sea-lion-feed-thalassa-and-finally/
it's still around this price. presentation next week should show the market what FPM are all about. Lack of exposure is why sp is knocking around 120p me thinks. should be aroundf 130p atleast on this news. interesting times ahead.
just noticed on level 2, delayed buy showing now from 8.21am, for 50,000 shares, at £61.13k. Now that is the confidence I like to see! If the 30% increase on the good news is achieved, he stands to get £20k or so increase. Nice!
Additional 54 million shares at 120p. New base line. Now a trading share.
don't get it too, 135.00 on that news would have been about right.
from article: http://www.watchlistnews.com/faroe-petroleum-plc-price-target-cut-to-gbx-169-fpm/55533/ Faroe Petroleum plc (LON:FPM) had its target price lowered by Liberum Capital from GBX 177 ($3.04) to GBX 169 ($2.90) in a research note released on Wednesday morning. They currently have a buy rating on the stock. Shares of Faroe Petroleum plc (LON:FPM) opened at 120.00 on Wednesday. Faroe Petroleum plc has a 52-week low of GBX 96.718 and a 52-week high of GBX 151.20. The stock’s 50-day moving average is GBX 128. and its 200-day moving average is GBX 123.2. A number of other firms have also recently commented on FPM. Analysts at Oriel Securities Ltd reiterated a buy rating on shares of Faroe Petroleum plc in a research note on Monday. They now have a GBX 200 ($3.43) price target on the stock. Separately, analysts at Westhouse Securities reiterated a buy rating on shares of Faroe Petroleum plc in a research note on Monday. They now have a GBX 200 ($3.43) price target on the stock. Finally, analysts at Credit Suisse reiterated an underperform rating on shares of Faroe Petroleum plc in a research note on Monday, June 30th. They now have a GBX 118 ($2.02) price target on the stock. Two research analysts have rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the stock. Faroe Petroleum plc has an average rating of Buy and a consensus target price of GBX 178.87 ($3.07). Faroe Petroleum plc is an independent oil and gas company focusing principally on exploration, appraisal and production opportunities in the Atlantic Margin, the North Sea and Norway. ********************************** If Oriel Securities target of 200 GBX comes in, that would be nice rise. Even the 169 GBX from Liberium is nice. We have hit oil, so should be looking at good rise here, at least up 30% I would have expected, on this news.