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As i have held Faroe since 2011, trading a few here and there but always keeping a reasonable investment and with the potential here over the next few years personally believe the longer term value is at least double the current SP but only my view.
Mommur what’s your target take out price? What would be the minimum you’d accept?
thank you, that explains today's move.
Yes after open from some DNO fixed income investor meeting. Should note that Stifel are just speculating
Is that Stifel note from today?
DNO want my 100,000 shares I am happy to part with them at an appropriate price. I may moan about the managements fixation on MC above SP and bonus rewards, but did buy/add again in the fifties and seventies GLA - lets hope DNO is not another Dana
Off the back of the Stifel note I guess... "DNO may be looking to raise debt for Faroe Bid"
I am loving this company more and more every day... -- BB --
This is quite the little move on no news, something brewing in the background?
In these small oil companies - directors should ONLY be paid in shares for their phantom bonuses. They already vote themselves into fabulous salaries. DNO will sort them out in due course......
Totally ageee Mommur. They are a set of experienced and highly knowledgeable group but have used this like it’s a private company... I just hope DNO do us a favour and buy us the **** out later this year
myself included, must really grind their teeth when they seen a re-numeration package for last year of �1 million for the MD and other Directors in the �750k level. Yes, the company has grown to a market capital of �475m from around �70m, 9 years ago and what a gravy train for Directors. It has been at the expense of shareholders. Perhaps its time that Institutional Investors stopped playing a boys own club and disinvested when their is such a disconnect between MC and SP. It should be a balanced act. Gripe over - perhaps if Directors were paid with shares at the current rate, we would all be happy.
Positive release, nice to see another rise in the sp today.
Looks unlike Delek they have acquired and continue to acquire shares in order to make a takeover bid for Faroe at sometime in the future IMO, and personally believe at �1.25 per share the company is well undervalued given the oil reserves and licence portfolio here. Will be buying more as funds become available.
DNO Acquires Additional Shares in Faroe Petroleum 13 April 2018 - DNO ASA, the Norwegian oil and gas operator, today announced that it has acquired 3,744,203 shares in Faroe Petroleum plc at a price of GBP 1.25 per share representing 1.02 percent of the outstanding shares in Faroe Petroleum. Following this transaction, DNO will own 105,247,866 shares representing 28.71 percent of the outstanding shares in Faroe Petroleum; all purchases have been made at a price GBP 1.25 per share. https://www.investegate.co.uk/Index.aspx?searchtype=3&words=0MHP
The masked raiders are on the move
slow burn ...
This price, two positive releases and the sp stagnant... disappointed
You can see why this stock is hot property, expecting a rise today surely
It's on fire! Great news ... X 2¡ --BB--
You can see why this stock is hot property, expecting a rise today surely
Faroe has now become an even more likely takeover target with DNO purchasing the block of shares from Delek at �1.25 per share, but given known reserves here and recent discoveries at Iris / Hades, I believe a realistic takeover price for the company to be nearer �2 a share to reflect potential returns here as output increases towards the 35,000 t0 40,000 bopd target.
05-Apr-18 16:44:10 124.9255,135,087 6.415M
DNO ASA confirmed - 27.68% ... :)
well, I wonder what kind of offer would be made? --BB--