Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
DNO owns 24.5% of FPM ... more buying recently? TR1?
The Board of Faroe Petroleum plc ("Faroe," "Company," "Board"), the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway and the UK, acknowledges receipt of a request from DNO ASA ("DNO") that a General Meeting of the Company be convened for the purposes of considering a shareholder resolution to appoint Bijan Mossavar-Rahmani, Executive Chairman of DNO, and Bjørn Dale, Managing Director of DNO, to the Board ("Proposed Resolutions").
(more in middle)
The Board believes that the Proposed Resolutions are wholly self-serving and are part of an undisclosed strategy on DNO and Mr. Mossavar-Rahmani's part to try and gain control of Faroe's business without making an offer to all shareholders at an appropriate premium.
Totally agree! I hold a basket of 12 oil cos in one of my account and this is by far one of the best ! Solid assets, experienced management team and excellent balance sheet ! I agree about the takeover ! I think deal will be announced before year end ... I just hope it’s for £2.5+ ! Would hate to be lowballed on this one ! Organic growth can get us there within next 12 months easily!
what's not to love about Faroe? Solid set of results ... t/o still on cards for this year ...
-- BB --
Well never got to 130p, but was fairly close around 136p. Can see this only go up. Operational update due soon and current poo price will drive this higher
Buy back at 130p next Friday
or ... or ....? -- BB --
Good rise today but SP still low IMO and have added a few more, as others have pointed out will oil prices above $75, this company could be approaching a billion dollar turnover in a few years time with production target of 35,000 bopd and above, Still looking for at least twice current share price, but suspect a bid will come in well before then.
Due shortly in June
from the RNS bio "For her last four years at Panmure Gordon, she headed up the natural resources team and has extensive experience in oil and gas transactions, advising companies on a range of strategic options and equity capital fund raisings and has led many capital markets and M&A transactions." Um ... there's an air of happiness and expectation on this Board! -- BB --
but finally back above the 150p sp level. Perhaps DNO have finally made management see the light and they can see the golden goose flying.
Could not agree more and whilst the last year has been extremely positive for the company, think this will pale in comparison with the expansion in production to come over the next few. However would not be surprised if a formal takeover bid does not come within the next 12 months IMO.
North Sea exploration licence ... This company has gone from "attractive" to "super model"! -- BB --
Afgreed there i have PMG and SDX which are doing well.
DNO should do the trick !!! Of my three horses SQZ has come off the boil, but FPM and PMG have took up the reins. GLA
Very positive and exciting times ahead with the dtilling programme. Success here should surely push the sp closer if not past the �2 mark.
One billion dollars sales revenue per year based on 35,000 boe per day current production and current oil price. Crazy share price at the moment and I would expect further production increases to come
Exactly 100% profit at this level, but as indicated before with Oil prices at these levels, strong growth forecast over next few years to over 35,000 bopd and DNO in the background, still a LTH and looking for nearer �2.50 per share, am only a buyer even at this level.. Believe this is still one of the best investments on aim for the future. GLA.
Totally agree maverick, very quiet here. This is the time for producers and with rising poo M&A season will be in full flow
I�m surprised how quiet this board is, interesting comment at the end of today�s RNS as below, one day this will do a SQZ and open up x2, x4 of current share price via a M&A, SQZ might even be a good fit "Faroe remains confident in its potential to exceed this production growth target through additional organic developments and investments, in addition to potential M&A opportunities."
If oil prices continue to strengthen can see the SP going into the 150's, but still a very cheap price IMO for DNO to mount a formal bid later in the year especially given the reserves here and strong cash position personally looking for this one to reach at least �2.50 and probably a full floatation on the main stock market.
Maverick, i do hope so, i would like to see this hit �2 before i let mine go
With growing production and an attractive portfolio of future exploration, there must be other companies taking an interest here besides DNO. Wouldn't be surprised if multiples bids come in
Whilst been watching the DNO buy in, forgot somewhat to watch oil price and see almost trading at $75 a barrel so all looking good IMO to break into the 140's after the holiday break. GLA
Similar to Shadow, I have bought tranches along the cycle as well as a core holding. it would behove me to let them go below 200p but we may not have any option. I suspect FPM management will want an accruing share price now DNO are in a position to chance their arm and 150p is finally on the cards. Either way, I don't see much downside at present. GLA