Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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https://www.ft.com/content/39ae2020-f1e4-11e6-8758-6876151821a6 Barents Sea hot right now. We are currently drilling the bone (dazzler) prospect with Eni Norge http://www.oedigital.com/component/k2/item/14228-eni-to-drill-barents-bone-bigorna-with-scarabeo-8
As others have eluded the DELEK IAE deal (which is considered a good deal for Delek) makes this look CHEAP. A £400m market cap, nearly £100m cash, great assetts, production and little debt.... They are currently drilling the Bone (dazzler) prospect (20% share to FPM) . This has to be a BUY .
Where in the news, and what did it say, give us a clue please? On the face of it that wasn't a great update with forecast prodn guidance down around 20% and unit cost up as a result. But the sp did not drop. Reminds me of Ithaca announcing further delays to FPF1 and the sp not moving. If Delek move, I predict a £1.34 offer, given they're tight fisted bastards.
www.proactiveinvestors.co.uk/columns/the-pay-zone/27074/oil-price-faroe-and-finally or http://www.malcysblog.com/ take your pick
FPM in the news today. Interesting.
Thanks Urraca - I will check it out.
Hi Toze. FPM are a bit tight lipped compared to some other oil cos. Current production is around 17-18,000 boepd. Check out the investor briefcase section on their website, they have a corporate presentation uploaded just this week. They haven't guided on forecast prodn for this year yet. I did think we'd get an ops update this week, but it appears not.
Hi Everyone, I have recently invested in FPM after doing much research. I had a look at the FPM website to establish important dates such as Operation Updates, Results and so on, but all I could find is a 9 Aug 2016 General Meeting and 20 Sep 2016 Interim Results. Both dates are 2016. Does anyone know if these are the same dates for 2017 and if there are other important calendar dates I should be aware. I could not find some information anywhere, so I would be extremely grateful if someone could give me a rough idea of current production (bopd) imminent production & announcements expected in the near future (1-3 months) and onwards. Thanks in advance.
It's that time of year, and the corporate update Feb 17 is now up on their website. £100m cash, no debt. Not clear on prodn guidance for 2017, at least in line with previously stated 17-18k boepd, some uplift possible from Brage and Tambar. Still talking of 40-50boepd in five years, generating $1bn, presumably annually. Solid stuff, lots of activity planned.
With the Chrysaor purchase of Shell assets in the North Sea last week, and now the Ithaca takeover, this could be the start of a wave of M&A in the patch. Delek may already be conducting takeover negotiations with Faroe, as they've already got a stake.
With Delek buying Dana's tranche of FM and a takeover bid for IAE this morning, its a tad quiet here?? FPM had a pretty good travel from the 50's to here, and fundamentals are sound. Dazzler strike may ignite things.
Up today, but I noticed there were 2 sells of £3m each at 11am this morning at £1 per share. After 11am the price rose to 105p. Technically, it broke out of an ascending triangle on 9th Dec 2015. At the moment it might form another ascending triangle (TBA) but is definitely in a clear bull trend. However, MACD and RSI are trending downwards, and that divergence tells me to avoid buying at this stage.
Yes he can and does get it worong langtro, more often right than wrong though, but what I like about onedb [he's on here too [without the 1 at the end btw] us he's honest and is ready to admit he makes mistakes. He says he was a former professional in the business after an initial banking background, and I just like him as a poster, certainly someone to read the views of, and then of course you have to make up your mind yourself.
London's M&A market Post Sun Jan 08, 2017 10:10 am http://www.worldstocks.co.uk/forum/viewtopic.php?f=18&t=33747
Thanks Greenhills2004 for the insight. I will check it out.
Hi Toze - have a look at Hub's comments on http://thesharehub.com/ Faroe is one of Hub's 2017 picks. Hub also posts under his same nickname "Hub" on http://www.iii.co.uk/ which is another message board good in particular for oil stocks. The poster "onedb1" is another top poster and technical chartist, who can give you food for thought regarding when to time your entries into stocks. atb Greenhills
I have been following FPM for many months but concentrating more on my active share portfolio at the same time. So I was well amazed when the last time (end Oct16) I checked FPM share price was at 74.50 and this morning it was at 103.50 - Well Done all of you who held on to FPM. I wish I did something about it. Anyway, I read the notes on this board for most of the 2016, I obviously lack FPM knowledge but I do my own research and I considering buying some FPM shares. As I said, I do my own extensive research, but if anyone has any opinions before I commit myself to FPM please go ahead. I know that FPM can be a risky but rewarding investment, I would be very happy to hear from you guys. No worries, the decision in mine in the end, no one to blame. Thanks in advance for any views if this is the time to enter FPM or I missed the boat. Best Wishes to all.
Sorry! the purchase was made on the 22nd Dec from Dana - But still Delek must have some sort of master plan to make themselves into a significant International Oil Co.
Would be surprised if this share doesn't start moving when the markets reopen with Delek Group purchase on Xmas day! Someone in the Delek Group has 'their head screwed on the right way' i.e they made a screwed purchase of Ithaca at a low price possibly done the same here.
Doing really well at the moment, so glad I took profits here last week to put more in HUR....not!
I've got a reminder about FPM at 83p, has it just broken a key resistance? Gonna look at the charts!!
Given that the Dong acquistion cost a lot less than they'd planned for, they have spare cash from the placing to pay for it. They might use it for further acquisitions. And Dong are now pulling outnof oil and gas completely.
The payment at completion for the acquisition of producing assets from DONG is expected to be approximately US$35 million as a result of higher than expected production and commodity prices since the effective date (1 January 2016), as well as a deferral of planned capital expenditure. That's from the RNS yesterday, just below the production table
Urraca, have you got a quote for that $35m figure? I've been wondering why this has been outperforming its peers so much recently, definitely top of my portfolio in the last month or so. Certainly not complaining though!