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Share the frustration, have added as time goes by since 2009, with around 100,000 accumulated. As a "long term" investor, it would appear to be building nicely at present, but this management has a habit of going out and purchasing assets which negates any share price increase, with no reward to shareholders other than - just wait. Apologies if that sounds negative, I wouldn't be holding this amount if that was the case - perhaps this time it will go into orbit and stay there.
understand your comment on frustration, but prefer to think with Njord and Bauge, Brasse, Blane addition and now Centrica announcing drilling to commence early next year on Fogleberg, not to mention the exploration at Goanna in a prolific oil bearing region, of Faroe like a rocket were the countdown as begun. DYOR, and GLA
Patience with stated P2 resources last year and the Brasse additions since, not to mention licences this one is an excellent longer term investment IMO, however it will take 3 or 4 years to get to the target of 40,000 bopd with a share price no doubt making todays price look ridiculously cheap, of course that is if DELEK do not make a bid for it before then. Never personally seen FAROE as a share for the short term investor, I just keep adding as time ticks by.
The SP seems to track POO quite closely without any premium for all of faroes prospects - frustrating !!
Drilling Permit gained for Goanna - Deepsea Bergen to be used. https://www.oedigital.com/component/k2/item/16036-wellesley-to...
All quiet on the Western front or should I say Norwegian front. Share price 31st July 2017 87.75p
See a sizeable trade was recorded late at a price of 91.85p well out of the normal days range, someone is still buying blocks of shares.
Only my speculation but can see Faroe and Point Resources possibly looking for a 3rd partner (likely STATOIL) to help develop this find and spread the capex and production costs especially as they wish to expedite getting it into production by 2020/21 and the fact it is near the infrastructure of Statoil. With estimated capex of $550 million even spread over 2 or 3 years is a sizeable spend. Whatever the basis of a final structure this is likely to represent a significant increase in production when it comes on stream.
http://oginsights.blogspot.co.uk/2017/07/brasse-continues-to-grow.html
Have seen these large deals at crazy prices on other shares. Imo they are mates rates and if you belive in the company you should try to grab some at the low prices.
It is good to see the sp recover. I think its tracking the oil price recovery pretty closely. It makes the huge selloff in the 70s look really bizarre though. Why would anyone do that? A margin call? Or to close the deal on getting the Delek IPO when they float in London?
Sells at 89p . Would be great to see a 2% increase daily.
Believe the indication in Faroe's report earlier in the year was that Goanna was scheduled for drilling in Q4, so permit likely to be gained shortly. Deepsea Bergen maybe utilized yet after it finishes its current role for Statoil.
Wouldn't surprise me to see Ula and Tambar under scrutiny for an FPM purchase. With all the recent good news and ongoing developments, the SP has sadly tracked AIM and should be far higher. Malcy, has it right on this one but it has never really been reflected in its share price and perhaps its time the company made a concerted effort to remedy this. Goodbye AIM for a start.
See lots of speculation on other sites regarding a bid price one writer commenting he thinks £2.00 a share another at £1.12 in reality know ones knows if DELEK where to make a bid what the offer price would finally be. However I believe with current stated 2P reserves at the end of 2016 being 81.3 mmboe the recent addition of the Brasse find, and the stated forecast to increase production volumes to 50,000 bopd, revenues and shareholder value will significantly increase and IMO £2.00 and beyond is a realistic longer term share price. However we are no there yet an a lot of variables can change but I am sure the institutional investors can see the potential and having purchased shares on various placings as high as £1.60, why would they and the BoD accept a low price of around £1.12 in reality I believe an offer if made would be in between, but why speculate with the shareholder value over the next few years almost certainly increase anyway and if a bid comes it comes.
OLI12 the RNS does not show such a dramatic increase crossing the threshold so they have constantly been buyers in the market place for sometime based on the figures from Faroe website on previous holdings, but yes another institution showing positive belief in the future prospects of the company. IMO the next few years are going to be exciting times for the company with substantial revenue increases.
Faroe's website last updated 30/07/2017 shows Schroders Plc having 3.87% so the new holding of 5.068% is a reasonable increase.
But not the one we wanted. Nothing that accounts for all those off book trades the other week.... give FPM time her day will come.
BP announces record Q2 profits. http://c.newsnow.co.uk/A/896211333?-821:575:0
See US Crude has broken $50 barrel with Brent trading at $52.69 at time of writing, with a reduction in overall reserves in storage the upward trend likely to continue.
Barclays Capital today upgrades its investment rating on Faroe Petroleum PLC (LON:FPM) to overweight (from overweight) and raised its price target to 115p (from 110p).
Yes looks like an exceptionally good deal for Faroe increasing their stake to nearly 45% in Blane and at $5 boe an extremely good price especially with the economies of scale and tax position all bodes well for 2018 let alone the longer term prospects. As per Zak Mir recent forecast can see this testing the years high again before the end of the year, but invested in it for a much longer period anyway and as posted before think the real long term worth of the business will be at least double if not triple the current share price.
Indeed. This will start to appear on the radar of the masses soon as sentiment changes towards this well run company. The holdings situation is a mystery which I hope will become clearer in time. If I were Delek now is the time to pounce.
So good they RNSed it twice. Brent looking good too. If the off book trades are still being held by brokers on behalf of the purchaser, then maybe the purchaser doesn't have to declare until they take ownership. I honestly don't see how the seller of the shares can avoid notification though. Unless the 53m shares comprised blocks of less than 1% from many sellers - and that's assuming the many sellers had holdings of x.99% and could sell down the 0.99% without triggering reporting requirements. I've checked the fca guidance on reporting regulations - there is no mention of exemptions for off book trades.
Some posters on ADVFN have said that a holdings RNS may not be applicable with off the book trades - not sure how that would be but seeing as we still haven't had one maybe they are correct. My own view is that Faroe are set to significantly increase daily production in the next 2/3 years and with all the other fundamentals as we know it this is very undervalued - but maybe the turning point is close now.