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Michael Masterman introduces Saffron Energy to London AIM Market (LON: SRON) Watch here

Michael Masterman introduces Saffron Energy to London AIM Market (LON: SRON)


Faroe Petrol Share Chat (FPM)



Share Price: 102.50Bid: 102.00Ask: 102.50Change: -2.00 (-1.91%)Faller - Faroe Petrol.
Spread: 0.50Spread as %: 0.49%Open: 103.50High: 104.00Low: 101.00Yesterday’s Close: 104.50


Share Discussion for Faroe Petrol


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Toze
Posts: 133
Off Topic
Opinion:No Opinion
Price:101.75
RE: Faroe Interview on IC
Today 15:53
OLI12,
Thanks for your comment, I understand what you mean......
BONE:
As far as I know, Bone is a high impact which commenced on the 11 January 2017, apparently this well will be genius if it comes in.
BRASSE:
FPM has also announced that a Brasse appraisal well is imminent. Drilling of the Brasse Exploration commenced in May 2016.
Does anyone know of any timescales when we can expect news from Faroe ? Is this imminent ?
 
OLI12
Posts: 486
Off Topic
Opinion:No Opinion
Price:102.25
RE: Faroe Interview on IC
Today 14:22
lack of news could cause this to drift down in the short term as we are seeing now.

IF Bone turns out to be dry then this will fall back further.

If you are investing for more than 6 months I can only see this going one way (barring the price of oil sinking).

A dip below £1 would be annoying however it would represent a great chance to top up.
Toze
Posts: 133
Off Topic
Opinion:No Opinion
Price:103.75
RE: Faroe Interview on IC
Today 09:05
OLI12,

What are your reasons to believe that FPM sp might dip below a £1 ?
Somekindofnut
Posts: 139
Off Topic
Opinion:No Opinion
Price:104.50
RE: Faroe Interview on IC
Thu 17:31
I didn't know this until recently, but to increase competition, Delek have been told to sell their stake in Israels largest producing gas field before 2020 when their even bigger Leviathan field comes on stream. So Delek have a $4 billion dollar pay day coming.

They may regret not bidding for Ithaca when it was 30p. If I was Delek Id borrow so I can buy assets asap, and not wait until they sell the Tamar field or complete the Ithaca sale.
OLI12
Posts: 486
Off Topic
Opinion:No Opinion
Price:104.50
RE: Faroe Interview on IC
Thu 16:00
Thanks for pointing that out - good interview covering a lot of topics. this is a great long term investment with the potential for significant upside.

YES it might dip below a £1 in the short term however in 12-18 months with a rising oil price this will do well.

A well managed company with good assets and cash.

Still hoping the Bone news will be positive that said it would be a good time to jump in if it were a duster.
Urraca
Posts: 537
Off Topic
Opinion:No Opinion
Price:105.50
RE: Faroe Interview on IC
Thu 14:09
Vlad, great to see you posting again. What you say about the difference in relation between Delek and Faroe as compared to the much closer relationship between Delek and the Ithaca board is exactly what I've been thinking. I believe there is a very high probability that Delek will try to take Faroe over, once its completed with Ithaca. That would build a decent size company for Delek to float on the stockmarket in the autumn. I expect they'll make a pretty penny - and they will need at least one other company to try and disguise what a steal Ithaca was. Faroe I think is the favourite, but I can't rule out Serica (not invested there at the mo, but its on my watchlist).

Regards.
VladamirPokrov
Posts: 308
Off Topic
Opinion:No Opinion
Price:105.25
Faroe Interview on IC
Thu 12:57
Graham Stewart was interviewed on IC. Fascinating, Graham wastes no energy whatsoever on charm or spin, very much the quintessential image of the dour penny pinching Scotsman - I mean that in a complimentary sense, exactly the kind of person I want in charge of my largest holding.

Graham was pressed on whether Delek would bid and whether Faroe would be allowed to sell relatively cheaply like Ithaca. He said he did not know whether Delek will bid, although he acknowledge they might. He stressed that the very best outcome for shareholders would be his priority and stressed that Delek obtained Faroe's shares on the market. What he is referencing here is the issuing of Ithaca shares to Delek prior to Ithaca's debt re-assessment, to get Ithaca through the debt re-assessment more comfortably by relaxing Ithaca's creditors due to the cash generated from the share issuing to Delek. Ithaca were more beholden to Delek subsequently than we thought.

Between Delek and Faroe there is no such cosy insider arrangement, Faroe do not need Delek, Delek bought in because they see value as we do, if they want to buy is out it will require a considerable premium, that is what Graham Stewart has made clear.

Vlad
Somekindofnut
Posts: 139
Off Topic
Opinion:Strong Buy
Price:105.25
Oil price
Thu 08:29
Oil fell yesterday so most oil company share prices fell too. But API reported big inventory draw last night and oil rising again, so hopefully fpm should make some gains today.

Really, we want EIA to confirm the inventory draw later today, but this could be start of opec cuts having an effect on the market.
ColonelDrake
Posts: 53
Off Topic
Opinion:No Opinion
Price:105.25
RE: Drilling News
Wed 14:21
Sector weak and looks overbought.

100p support should hold for FPM. Break 100p support and retest of 91p.
Urraca
Posts: 537
Off Topic
Opinion:No Opinion
Price:105.50
RE: Drilling News
Wed 14:00
Looking like it, the price is tanking. Fine, I have a big chunk of money nvested elsewhere, and I don't think Delek will move on Faroe until they've got Ithaca in the bag. So Faroe in play from around the start of May. If they dip below a quid I'll be piling in.




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