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made a grand and i though it's a good prospect l-term, im exiting oil for a while
looks drilling only started on the 25th according to FPM web site. "The drilling operation, which commenced on 25 March 2012, is being undertaken by BP Exploration Operating Company Limited (47.50% interest) using the Stena Carron drilling rig. The other joint venture partners are CIECO Exploration and Production (UK) Limited (6.25%), Idemitsu Petroleum UK Ltd (5.00%) and Nexen Petroleum U.K. Limited (35.00%). " http://www.faroe-petroleum.com/Default.aspx?pageid=983
http://www.scotsman.com/business/management/market-watch-bp-poised-to-reveal-deepwater-well-result-1-2783344 where are the results of this well?
This could be an interesting day..
This should be the start of more significant gains this yr. The S Times/Scotsman pieces probably helped.
Noy in here myself, http://www.thesundaytimes.co.uk/sto/business/Tech_and_Media/article1234470.ece
be brave - this is a 30-50% rise soon
... and North Uist (WoS), spudded on March 25, could see its 1 YEAR anniversary. Meanwhile broker notes since the analyst site visit (mostly upgrades) keep coming in. Latest: "Equities researchers at Credit Suisse boosted their target price on shares of Faroe Petroleum Plc (LON: FPM) from $3.14 (210 GBX) to $3.43 (230 GBX) in a report issued on Friday. The firm currently has an “outperform” rating on the stock." http://www.mideasttime.com/faroe-petroleum-plc-pt-raised-to-3-43-fpm/3610/ Darwin (Barents Sea, 1Bbbls) spudded already, Blackrock over 13% and looking at the trading ii's keep adding. ... and, to top it up, just saw a gap close with a 100 trade. Hm, difficult. ;-)
target price 220p
136p a nice cheeky price. im in huge..
Market waking up to what was IMV a very positive RNS yesterday :-) and now a £2.12 target price from Panmure Gorden say's it all..........DYOR
Faroe Petroleum: Panmure Gordon shifts target price from 200p to 212p and still recommends buying.
Independent oil and gas company Faroe Petroleum has confirmed a significant gas condensate discovery at its Rodriguez exploration well, an operational update issued by the compan on Thursday has revealed. The AIM-listed mining company said moveable hydrocarbons had been discovered in the sandstone layers in the Lange formation, which contained an estimated gas condensate column of nine metres net pay. It stated that the operator's preliminary volumetric estimates of the size of the discovery were between 19 and 126m barrels of recoverable oil equivalent. Graham Stewart, Chief Executive of Faroe Petroleum, said: "We are very pleased to announce this gas condensate discovery on the secondary target of this Norwegian Sea exploration well. "This significant discovery gives the partnership a good indication of further upside potential on the rest of the licence block with at least two further matured and partially de-risked prospects and we look forward to its further appraisal." Faroe Petroleum's share price was down 1.09% to 136.50p at 11:19 on Thursday.
Faroe Petroleum: Canaccord Genuity moves target price from 170p to 190p upgrading to buy.
Barents, Darwin, q1/Q2, 1 bn barrels. FPM 12.5%, Repsol operator. Interesting read: http://www.rigzone.com/news/oil_gas/a/123614/Barents_Sea_All_Eyes_on_Darwin
http://www.fp.fo/Default.aspx?pageid=983 [North Uist] http://www.bp.com/liveassets/bp_internet/globalbp/STAGING/global_assets/downloads/S/scotland_north_uist_exploration_well_environmental_statement.pdf http://www.marinetraffic.com/ais/nl/default.aspx?oldmmsi=235066948&zoom=10&olddate=lastknown# [drillship] http://www.sailwx.info/shiptrack/shipposition.phtml?call=2BKQ8 http://www.offshore-mag.com/articles/2013/jan/deepwater-north-uist-well-nearing.html http://www.guardian.co.uk/business/2011/oct/13/bp-shetland-oil-drilling-environmentalists http://gcaptain.com/chevron-plans-invest-billions/ http://www.chevron.com/search/?k=rosebank&text=rosebank&Header=FromHeader&ct=All%20Types http://www.laggan-tormore.com/ [click the video] http://www.uk.total.com/activities/west_of_shetland.asp
Brønn 6407/1-6 S Rodriguez er planlagt boret med vannbasert borevæske i topphullseksjonene, og oljebasert borevæskei intermediærog reservoarseksjonene inkludert sidesteget. Topphullseksjoner 36"seksjon 36" seksjonen er planlagt boret med sjøvann og viskøse bentonitt piller (15 m3) etter behov. Ved total dybde av seksjonenpå 390 m TVD RKBer det planlagt å pumpe viskøse bentonitt piller på 2 x 15 m3 før en fortrenger til 1,30 sg vektetpolymer-borevæske før kjøring av fóringsrør. Alle kjemikaliene er i grønn/PLONOR kategori. 12 1/4" seksjon(Pilothull) Riserless Mud Recovery (RMR) vil bli installert før boring av 12-1/4" seksjon. Borekaks og slam vil da gå i retur til overflaten,og det benyttes et vannbasert borevæskesystem (KCl/GEM/Polymer). 26"seksjon Riserless Mud Recovery (RMR) vil bli installert før boring av 12-1/4" seksjon. Borekaks og slam vil da gå i retur til overflaten,og det benyttes et vannbasert borevæskesystem (KCl/GEM/Polymer). Mellomseksjonen 17 -1/2" seksjon BOP og stigerør vil bli installert før boring av 17-1/2" seksjon. Borekaks og slam går da i retur til overflaten gjennom det marine stigerøret,og borekaks med vedheng av borevæske slippes ut fra riggen. Returnert boreslam vil bli tatt til land. 17-1/2" seksjonener planlagt boret med den vannbaserte borevæsken PERFORMADRIL. Reservoarsekjosnene 12 -1/4" seksjonog9-5/8" foringsrør Denne seksjonen vil bli boret ned til til Melke formasjonen på ca. 3680 m TVD med den oljebaserte borevæsken XP-07. Her vil 9-5/8" foringsrør blir installert så nære som mulig til reservoaret for å muliggjøre kontroll av endringene i poretrykk i formasjonen. Det gjøres også forberedelser for installasjon av en 7" liner hvis det skal utføres en produksjons test. 8 -1/2" seksjonog7" forlengningsrør Denne seksjonen blir boret ned til ca. 4060 mTVD, ca. 50 m inn i Tilje formasjonen, også denne seksjon vil bli boret med den oljebaserteborevæsken XP-07. Dersom man finner hydrokarboner i primær- og sekundær reservoarenevil det planlegges for en brønntest. Brønnen vil bli plugget og forlatt med bruk av den oljebaserte borevæsken XP-07. Utboret kaks fra seksjonene 17-1/2", 12-1/4" og 8-1/2" med vedheng av borevæske vil bli fraktet til godkjent mottaksanleggfor behandling på land. Overflødig borevæske skal gå til gjenbruk i andre prosjekter. Sidesteg Dersom man ikke treffer på olje/vann kontakten under boringen av reservoarseksjonen, planlegges det for et sidesteg gjennom 9-5/8" foringsrør.Et 8-1/2" hull vil da bores ut fra hovedbrønnen i Kvitnosformasjonen med den oljebaserteborevæskenXP-07.
Brønn 6407/1-6 S er planlagt boret som en S-formet brønn med total dybde ca. 4060 m TVD. Et 12-1/4" pilothull vil bli boret for å sjekkeat det ikke finnes grunn gass på lokasjonen og forsikre at den potensielle gassen ikke vil bli en fare for operasjonen.Pilothullet vil bli boret gjennom et RMR system (Riserless Mud Recovery) og det er planlagt bruk av vektet boreslam. Hovedmålsetning med brønnen er å skaffe informasjon om hydrokarbonpotensialet i Jurassic reservoaret i Garn formasjonen,sekundert vil være å teste potensialet i Ile formasjonen. Det er tidligere boret flere brønner i området rundt Rodriguez. Brønnen er planlagt boret i følgende seksjoner: 36", 12-1/4" (pilothull), 26", 17-1/2", 12-1/4" og 8-1/2" seksjon. Dersom man trefferpå en grunn gassone under boringe av pilothullet, eller at tilstrekkelig integritet i formasjonen under foringsrørskoenikke kan oppnås, vil det vurderes å sette 20" foringsrør over gassonen og deretter installere BOP før man borer 17-1/2" seksjonen til planlagt dyp og innstallerer et 16" forlengelsesrør. Ved funn av hydrokarboner vil det bli utført en brønntest. Endelig avgjørelse for gjennomføring av test baseres på kjerneprøver,wireline-logger ved totalt dyp og prøver fra trykkpunktstester (RCI).
30-40 days to 3700m (8.5 section with coretaking) --> website text pl475? Doesn't mention Tilje, but planned to go to 4084 TVD, then back up and install whipstock at 2674m MDRT at about the 90th day. and back down to 4224m TVD (125 days to permanent plugging, total length Rodriguez about 127 days from spud.) Half news, not TD'd?
North Uist needs outof the way, but 'problems' already priced in and the 6% is upside now, and clear sailing towards the target prices almost double todays sp. Looks ready for a good leg up regardless. GLA
http://www.heraldscotland.com/business/company-news/faroe-wins-licences-to-boost-norway-presence.19937309 dd17jan2013 Interview with CEO Graham Stewart "(...) Aberdeen-based Faroe was a big beneficiary of the latest licensing round in Norway in which it was awarded eight licences. The awards increase the size of its Norwegian portfolio by a third. Chief executive Graham Stewart said the new licences significantly enhance Faroe's strategic position in Norway, which is attracting increased attention from the industry's big guns. He said: "These licences contain a wide range of play types and risk profiles, which increase our Norwegian acreage position to 32 licences across the key exploration areas, giving us the largest licence position of any UK independent operating in Norway." Faroe will work with giants including Statoil, Total and Centrica on some of the new licences. Edinburgh-based Cairn Energy has a stake in one. "Both the government and the majors clearly view FPM (Faroe Petroleum) as a credible partner and operator of offshore Norwegian assets," analysts at Jefferies International told clients. (...) In September, he told The Herald that Faroe was keen to buy producing assets in the UK North Sea. Faroe said it expects to drill five exploration wells in the near term, all in Norway. (...)"
"We drilled six exploration wells during 2012 and the pace of our exploration programme has continued into 2013 with a further five exploration wells planned for 2013 as well as five development wells. The company is in an excellent position to maintain its momentum in exploration and to make further investments as we execute our growth strategy through the drill bit."
The group also said the Hyme development is on schedule and production is expected in the first quarter. Once it is on stream it is set to add a 1,000 boepd to current production levels. Graham Stewart, Chief Executive, Faroe Petroleum said: "We are pleased to provide an update on current operations and a look forward to our continuing active exploration programme for 2013. Production in 2012 has been in line with expectations and has funded both our exploration programme and a significant proportion of our development capex. "Aside from our production cash flow, we have robust cash balances and a substantially undrawn debt facility. We expect higher average production rates in 2013, and, as in 2012, we expect that the cash flow from production will fully fund the exploration programme and a large part of the development capex, with the remainder being funded from reserves and our debt facility, as appropriate.
Faroe Petroleum, an independent oil and gas company, has said that total average economic production for 2012 was around 7,200 barrels of oil equivalent per day (boepd), although production in the second half was lower than the first due to temporary unscheduled production shut-downs on the Njord, Brage and Blane fields. The Blaine field also remained shut for almost 10 week as a result of repairs that were undertaken after a gas leak had been detected on the Ula platform to which it ties back. The firm reassured investors that all fields are now back on stream and said production is currently around 8,000 boepd. Looking ahead to 2013, average production is expected to be between 7,000 and 9,000 boepd.