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Over $64.
With the price now reaching over $62 per barrel and again IMO likely still to go higher at least until the winter period is over, the SP I think as indicated before is still well undervalued given the prospects here and is likely to re-test the years high. With DELEK still in the background and production increasing over the next few years to the target of 40,000 bopd, I believe the upside potential for the SP is high.
Really surging today almost $60 per barrel.
Oil price approaching $58 per barrel and likely to go higher this year, share price IMO well undervalued and would expect year high to be breached before Christmas. Will be buying a few more to top up my holding here and good news on HNR fracking completed.
Been invested in FPM for a number of years buying and selling at various times and have already taken out profit, have a good gain still in them, and in my terms a sizeable investment still in them But yes I like a balanced portfolio and have positions in a few other shares I consider more risky including HNR which IMO have potential,l but experience tells all will probably not come good that's why IMO it is wise to spread the risk. DYOR & GLA
Its a good word "potential" We all make rational decisions on each of our purchases. For what its worth, I hold large positions in FPM, SQZ, and PMG all debt free and potential. All supported by my hopldings in Investment trusts, which also lets me have a bit of spice, CHAR and JOG. Apart from Serica and Nautical Petroleum the tortoise Investment trusts have won hands down!!
I am trying to plan for what to do once HNR has come good - looking for an investment that is a year or two behind HNR - don't think FPM is such an investment. Hoping to find a share with the potential to at least multibag five times within a year or two of investing in it. Anyone got any ideas?
Shadow - if I was holding for 2/3 years until early 2020s I would be disappointed with a SP rising to 200p - 300p. Think you should be brave and put the lot into HNR!!!
Given the fact by then Faroe will have a turnover approaching 1/2 billion with IMO a bottom line of around 10%, my guess would be between 200p - 300p. Unlike HNR this one is less risky as oil quantities already found an they have an healthy cash balance but will take a few more years to achieve. HNR is more an immediate play.
If management can achieve the above production by the early 2020s what do posters think should be the SP by then? Thanks in advance for comments.
Will we break and hold �1 level tomorrow, invested for the long term anyway can see it being 2 or 3 times higher when we reach 40,000+ bopd.
https://www.investorschronicle.co.uk/tips-ideas/2017/09/27/faroe-has-great-expectations/
Broadly in line with expectations with Revenue and Other Income together in excess of £100 million and bottom line before exchange variances near breakeven. No real surprises in trading update as said before the real growth will come over the next few years, but nice to see making positive progress. I do however, think given current Crude prices and entering the winter months as demand increases the SP is well undervalued especially with DELEK in the background. IMO only a short time before this is trading above £1. GLA.
Brent heading north today touching $58. Hopefully a positive update here tomorrow can propell FPM over the £1 level. If the POO can remain at this level for the rest of the year it should be great for Faroe.
See Brent Crude at $55.5 per barrel and US Crude near $50, all bodes well for next week and into the winter months as demand picks up. Looking forward to reading the Interim results on Monday but the real growth will come over the next 2 - 3 years as we head towards 40,000 barrels per day target and above.
See a late trade booked for a 100,000 shares BUY at £1 per share, very supportive day.
Well some good support here....I know today's duster was a freebie drill BUT to see the SP rise .... let's see if she can pass the £1.
See original post has been officially removed.
Watch out somebody just ramping a falling share price IMO, has posted the same on numerous sites. DYOR on any share.
Just checked - these are due out on the 18th September 2017.
By Warren Smith / in UK Broker Ratings / on Monday, 04 Sep 2017 07:18 AM / 0 Comments At the moment 14 brokers are covering Faroe Petroleum (LON:FPM), 14 rate it “Strong Buy”, 0 “Buy”, 0 “Sell”, 0 “Strong Sell”, while 0 “Neutral”.
Nice to see a gentle sustained rise here back towards the £1 level. Well done to those who purchased at the 75p level. All quiet on the Delek front however Faroe has plenty of other plates spinning to keep the SP moving upward.
Good to see this back in the 90s. Should be over £1 really.
These should be out later this month published on 20th September 2016 last year, most brokers are forecasting very positive results with half year turnover exceeding £90 million. Share price appears to be reacting already, but see oil price rising as well.
Today: FAROE PETROLEUM High quality, with a big discount Faroe Petroleum is trading at only 61% of our risked NAV, with an implied oil price of USD41/bbl, and looks attractive to us in both absolute and relative terms. Since 2012, the company has reported strong reserve and production/share growth versus peers, second only to Aker BP. Its assets and developments are attractive in our view, with Brasse discovery economics in the top 5% on the NCS. We see good visibility on these growth metrics through the coming development cycle, including funding, with limited downside risk. We initiate coverage with a BUY recommendation and GBp142 target price.