RE: Lowlander / Perth21 Aug 2014 11:24
I have serious doubts that Faroe will get any oil out of Lowlander. Firstly, Faroe are not known as developers.
Then look at the agreements (as far as you can). Faroe acquired their share of Lowlander from two other parties without declaring the terms of either agreement (afaics). Why were no terms stated?
Then, why would a company of the size of Talisman be happy to sell its share to Faroe? Faroe certainly can't fund it, whereas Talisman could have done - but chose not to.
Faroe now has to try to bring in a big oil company, when one such company has recently exited.
Looking behind this, Faroe is in a lull period, waiting for a return to the Pil block. No news in prospect and the share price down at 110p. Could this Perth/Lowlander 'news' be an attempt to get some support for the shares? Faroe's directors must be looking over their shoulders at Dana, who hold 18%.