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big trade.....................
x2...buy/swap?........
It registered with me alright. Not mine though :-) There have been more, and bigger, in the past weeks.
big trade,not showing on l2....
big big trade,......
if tey are only getting 1.06 for a few hundred shares, how they able to get 1.08 for a few hundred thousand. Delberate misinformation?
Faroe Petroleum (FPM) Director name: Mr Timothy P Read Amount purchased: 20,000 @ 110.75p Value: £22,150
Faroe Petroleum (FPM) Director name: Mr John Bentley Amount purchased: 22,500 @ 110.75p Value: £24,919
tried a small buy deal (1,500 shares). Blasted market would not accept my deal. Any others had this prob?
Active explorer with revenue-producing - these should be 200p within months - imo
Over twice the current sp. So what's stopping it. 1) the market does'nt agree. 2) It isnt. 3) no money left to purchase shares especially in AIM. The only thing that will push it higher is a big discovery, and like most exploration companies that is unquantifiable until it happens. Remains speculative, but gr8 management team GL
Spotted this from Directors Talk on Twitter this morning. "Faroe Petroleum at 111pp – worth 255p ( an upgrade) says VSA. Posted on June 14, 2013; By News Team; in Oil and Gas".
x3..buys/sells...
http://www.ogj.com/articles/2013/05/statoil--total-swap-barents-sea-interests.html
Stopped out , will watch for an entry at a lower level but a major support level has now been breached. Ian.
Weekly chart has left a strong doji candle outside the bollinger Bands so I see great low risk long here with a stop just below doji low. It Doesn't come much better . Ian.
Faroe Petroleum's turnover nearly doubled to £158.8m in the year to the end of December - up from £80.2m in 2011. Faroe said this reflected, in particular, the full year effect of acquisitions made in 2011 of the Brage, Njord, Ringhorne East and Jotun fields in Norway, and continuing high oil prices. Cost of sales, including depreciation of producing assets, was £97.0m (2011: £52.2m), giving a gross profit for the year of £61.8m (2011: £28.0 million) - a significant increase from previous years. EBITDAX for the year more than doubled to £96.0m (2011: £40.9m). Exploration expenditure for the year was £79.7m (2011: £42.3m). This included pre-award exploration expenditure (£8.6m) and write-offs of licence specific exploration and evaluation expenditure on previously capitalised licences where active exploration has now ceased (£71.1m). The pre-award exploration expenditure included costs incurred in licence rounds. The licences which were relinquished and written off during the year included T-Rex, Clapton and Fulla/Freya together with other smaller write-offs over several exploration assets. The group's reported loss before tax was £29.0m (2011: £14.3m profit). The loss after tax was £5.2m (2011 profit: £47.4 m due principally to the exceptional gain of £40.0m on the disposal of Maria).
Faroe Petroleum has confirmed that the North Uist frontier exploration well, west of Shetland, is being plugged and abandoned, as planned. The 213/25c-1V exploration well targeted several reservoir objectives, the most significant of which was the North Uist prospect. The well reached a total vertical depth of 4,700 metres and encountered gas condensate in sandstone reservoirs in the target section. An extensive data set has been collected, including wire-line logs, pressure data and side-wall cores. A full formation and volume evaluation is under way but preliminary results indicate varying reservoir quality and the commercial potential has yet to be evaluated. The shallower Cardhu prospect encountered traces of hydrocarbons. This deep water frontier exploration well (Blocks 213/20b, 214/16b, 213/25c) is located near to Chevron's Rosebank oil discovery, also on the Corona Ridge, west of the Shetland Islands. To manage the typically higher well costs in this region, Faroe secured a financial carry of a portion of the well costs through farm-out arrangements and a relatively low retained licence equity. The drilling operation has been undertaken by BP Exploration Operating Company Limited using the Stena Carron drill-ship. The well will now be plugged and abandoned, as planned. Faroe Petroleum chief executive Graham Stewart said: "After a long period of drilling activity on this wild-cat exploration well, we are pleased to have made a discovery in the North Uist exploration well, although we had however hoped for better quality reservoir. "The result proves another working hydrocarbon system in the frontier west of Shetlands which is good news for further prospectivity in these UK waters. "The partnership will now undertake extensive analysis of the considerable volumes of data and samples collected from the well operations before deciding on the next steps." - - - http://www.moneyam.com/action/news/showArticle?id=4568618
16.0 - 16.5 heading for 117+ today imo
heading towards close of 117p today - imo
Good read, activity overview NS/WoS http://www.offshore-mag.com/articles/print/volume-73/issue-5/international-report/exploration-and-development-resurgent-throughout-main-nw-europe-.html "Britain's dwindling reserves of offshore gas have been further drained by an unusually prolonged winter. But BP provided a gleam of light last month with its North Uist gas/condensate discovery west of Shetland. According to partner Faroe Petroleum this is in a previously unexplored area, although the location is not far from Chevron's undeveloped Rosebank oil and gas field. Chevron expects to take a final decision on Rosebank in late 2013. If it goes ahead, it would be Britain's deepest water field development to date at 1,100 m (3,609 ft). WorleyParsons and INTECSEA have been working on studies for a ship-shaped FPSO to handle producing up to 75,000 b/d of oil and 100 MMcf/d of gas. Artist's impression of the new Montrose BLP platform in the UK central North Sea (copyright Talisman). Analysts BritBoss report that the processed gas would head through a new 130-km (81-mi) subsea pipeline to Sullom Voe, Shetland, where it would connect directly to the new Shetland Islands Regional Gas Export line to eastern Scotland. Total has commissioned this system to transfer gas that will flow from its Laggan/Tormore fields west of Shetland, due onstream next year. Rosebank's economics should benefit from the UK government's new allowance for fields in water depths exceeding 1,000 m (3,281 ft). Other new initiatives over the past year include tax breaks on heavy oil field developments, which prompted Statoil and its partners to launch the giant Mariner project in the northern UK North Sea in December, and further assistance for mature field projects. That one lit the fuse for Talisman/Sinopec's Montrose area redevelopment in the central North Sea, involving construction of a new processing/production platform (Montrose BLP) linked to the existing Montrose A platform, and handling output from the Cayley and Shaw fields. The improved climate for investors on the UK continental shelf has also had a positive impact on exploration drilling. Activity has recovered strongly after last year's slump, although, aside from North Uist, results to date are modest. (...) = more, non-FPM
Wow. Just tried Google Earth Seafloor updates. Those red structures? Cables? What is that between Scotlnd and Norway? Have they landed :-)
http://hannonwestwood.com/web/News/UKCSWellSlot.aspx [rumour, flowtest] "(...) Whether BP’s Well 213/25c-1V has bolstered the UK’s poor level of 2012 discovered reserves (wells spudding within that year) remains to be seen. As befits such a long running programme, rumours abound, one being that it has been flow tested… " http://www.bp.com/liveassets/bp_internet/globalbp/STAGING/global_assets/downloads/S/scotland_north_uist_exploration_well_environmental_statement.pdf [testing, well abandonment, flowtest] http://www.answers.com/topic/north-uist [go there ;-)] http://wikimapia.org/4153290/Hebrides-Missile-Test-Range [not there ;-(] http://www.scotland.gov.uk/Resource/0039/00398533.pdf
Interesting rumour mentioned in: http://hannonwestwood.com/web/News/UKCSWellSlot.aspx "(...) Whether BP’s Well 213/25c-1V has bolstered the UK’s poor level of 2012 discovered reserves (wells spudding within that year) remains to be seen. As befits such a long running programme, rumours abound, one being that it has been flow tested… "