15 Jul 2016 08:33
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Don't have an account? Click here to register.DNO ups offer for Faroe Petroleum to 160p per share
Wed, 09th Jan 2019 08:20
(Sharecast News) - Norwegian oil producer DNO has acquired a further 32.25m shares in AIM-listed producer Faroe Petroleum after it upped its cash offer for the group to 160p per share after the close on Tuesday.DNO now owns or has acceptances for 195.52m Faroe shares, roughly 52.44% of the company's issued share capital - just short of the 57.5% needed by the Scandinavian firm.DNO intends to extend the offer, which effectively valued the firm at £641.7m, until 17 January despite the downturn in markets since its initial offer on 26 November.Faroe had insisted on multiple occasions that the offer was opportunistic and that it significantly undervalued the group, which, according to an independent valuation by Gaffney, Cline & Associates, had an implied valuation of 186p to 225p per share based on its $1bn of assets.As of 0820 GMT, Faroe shares had slid 0.13% 160.20p.
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11 Jul 2016 15:33
Faroe Petroleum confirms Brasse discovery
(ShareCast News) - Faroe Petroleum has confirmed its Brasse oil and gas discovery in the Norwegian North Sea. The discovery was made at licence PL740 in the Norwegian North Sea where the AIM-Listed company is 50% owner and operator. The Brasse side-track reached a total depth of 2,530 metres and en
Read more7 Jul 2016 14:45
Faroe Petroleum awarded new licence in Irish Atlantic margin
(ShareCast News) - Oil and gas company Faroe Petroleum was awarded a new three-year licence option in the Irish offshore by the 2015 Atlantic margin licensing round (AMLR). The 16/23 licensing option covers 960km in the Slyne/Erris Basin. It is one of the second tranche of awards made under the AMLR
Read more2 Jul 2016 02:11
UPDATE 1-Norway oil workers agree wage deal, avoid strike
* Norway oil workers agree wage deal * Employers and unions worked overtime to agree * Avoids strike that would have cut output (Adds quote, background) OSLO, July 2 (Reuters) - Norwegian offshore oil workers and employers signed a new wage deal on Saturday, avoiding a strike
Read more2 Jul 2016 01:54
Norway oil workers agree wage deal, avoid strike
OSLO, July 2 (Reuters) - Norwegian offshore oil workers and employers signed a new wage deal on Saturday, avoiding a strike that would have cut the output from western Europe's top oil and gas producer by about six percent, employers and unions said. Some 755 workers at fields operated by S
Read more28 Jun 2016 13:55
Union warns Statoil not to scale back agreements
OSLO, June 28 (Reuters) - Norwegian oil major Statoil must halt attempts to scale back existing labour agreements if it wants to prevent a strike that would hit output from July 2, a trade union said on Tuesday. About 755 Norwegian workers on seven oil and gas fields operated by Statoil, E
Read more27 Jun 2016 19:26
UPDATE 3-Norwegian unions say 755 oil and gas workers could strike
* July 1 deadline for Norway's oil wage talks * Fields produce 17-18 pct of Norway's output -Reuters calculation * Further escalation likely unless deal found (Updates ExxonMobil's comment) By Stine Jacobsen and Terje Solsvik OSLO, June 27 (Reuters) - About 755 Norwegian
Read more21 Jun 2016 15:04
21 Jun 2016 14:46
Barclays names Ophir Energy 'top-pick', upgrades Premier Oil
(ShareCast News) - Analysts at Barclays re-jigged their recommendations on European Exploration and Production companies in order to take into account the recent rise in crude oil prices and improved investor sentiment regarding companies´ ability to execute to plan operationally. In the process
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