Member Info for BertieBassett

Goodness.. I have just seen the word "some" ... I hope that's not the sign of the future...
-- BB --

There is hope... But the falling SP says it all...
IGraham Stewart, Chief Executive of Faroe Petroleum, commented:
“In a six well exploration programme some disappointing outcomes are inevitable. Although no hydrocarbons were present in the main Oseberg target we are pleased to have encountered hydrocarbons in the secondary Ness target which provides new data.

“In addition to the ongoing Agar/Plantain well, results from which are expected shortly, Faroe’s exploration programme will continue over the remainder of the year with two further committed exploration wells in Norway: the Brasse East (Faroe-operated) and Cassidy wells.”

getting a wee frustrated with the SP here. As a LTH, was hoping that we would be heading north ... in anticipation of news ... but we seem to be heading for a price that makes a T/O at a dismal price seem rather possible ...
-- BB --

Hmm... Less than 140p now ... 200p looks a dream!
-- BB --

should there be? after yesterday's "jump" and "dive"?
-- BB --

SQZ and RRE both seem quite competent ...

I am a wee annoyed by FPM not giving out more details on what is going on with Agar Plantain (the current drill).

Am happy at these levels ... as I expect an initial offer of 200pps .... which is affordable to DNO ...

-- BB --

From yesterday's Oil & Gas Planet: Faroe Petroleum has completed the sale of its 17.5% working interest in the Fenja development located in PL586 in the Norwegian Sea to Suncor. Faroe retains a 7.5% working interest.

Faroe to sell 17.5% stake in the Fenja development to Suncor for cash consideration of $54.5 million (including tax balances);
Faroe to retain 7.5% stake in Fenja, underlining Faroe’s support for the project, and fully aligning Faroe’s equity at 7.5% across the Greater Njord Area (Njord, Fenja, Bauge and Hyme);
Transaction is expected to reduce Faroe’s future capital expenditure on Fenja to approximately £70 million (based on the operator’s gross projected development cost of NOK 10.2 billion);
Maintains Faroe’s strong balance sheet and fully funded position across its portfolio of Norwegian field developments.

in Norwegian Sea ...

Faroe Petroleum Norge AS has been granted a drilling permit by the Norwegian Petroleum Directorate for well 31/7-3 S in production license 740 in the Norwegian Sea. The well will be drilled about 10 km south of Brage field using Transocean Ltd.’s Transocean Arctic semi-submersible drilling rig after it concludes drilling wildcat well 30/6-30 for Faroe Petroleum in PL 825.

This is the fifth well to be drilled in PL 740. The area in PL 740 consists of part of Blocks 31/7 and 30/9.

Faroe Petroleum serves as operator with 50%. Point Resources AS holds the other 50%.

from 31/10/2018

any reason why this is not flying in the face of a positive RNS?
-- BB --

wow! the share dropped 25% then ... up 10% ... then settled at up 3.7% ...
GREAT news from NWF ... shame the market is generally subdued ...
-- BB --

know what you are saying ...
damned if they do, damned if they don't ...
if it goes to poo then the clamour will be for t/o...
if it goes right then ...!
-- BB --

thank you all ...
maybe Lidl this year ... and beach in the Bahamas next then!!
regards,
-- BB --

Hi,
I thought I had sold out of 88e a while ago ... BUT ... it turns out that I had 580,000 shares in a subsidiary account I had forgotten about ...

I have just received the 1 for 7 offer ... and to be honest, am in two minds ...

Does anyone have an update snapshot for 88e that could sway me either way ...

It's not a huge outlay but the difference between Aldi and Waitrose at Xmas!!

thank you in advance!

-- BB --

"Graham Stewart, Chief Executive of Faroe Petroleum commented:"I am pleased to announce the spudding of the Faroe-operated Rungne exploration well, a near field exploration target which provides us with significant upside potential in one of our core areas.

The well is in close proximity to the Faroe-operated Brasse field and existing infrastructure, including the producing Equinor-operated Oseberg oil field.

This is a very active exploration period for Faroe. We have six exploration wells and one appraisal well committed to drill over the coming 12 months, and many more wells lining up for drilling thereafter. The first of these, the Agar/Plantain exploration well in the UK, is currently being drilled, and this will be followed by the Faroe-operated Brasse East well, to be drilled back to back with the Rungne well."These exploration wells are targeting a significant unrisked resource potential net to Faroe of 80-150 mmboe. In addition, the appraisal well on the large Iris-Hades discovery, scheduled for H1 2019, has the potential to prove up very significant resources for the Company."

-- GREAT NEWS --

Note that the "new" partnership for the PL825 drill consists of: Faroe (40% and operator), Equinor Energy AS (30%*), Spirit Energy Norge AS (20%*) and DNO Norge AS (10%*).

DNO being the "stalking horse" ... I wonder how long it will be content for crumbs ... when it can have the whole enchilada?

-- BB --

Did anyone notice the buys/sells yesterday after hours? Crazy...
DNO buying more?
TR-1 expected..
-- BB --

Did anyone notice the buys/sells yesterday after hours? Crazy...
DNO buying more?
TR-1 expected..
-- BB --

Did anyone notice the buys/sells yesterday after hours? Crazy...
DNO buying more?
TR-1 expected..
-- BB --

sadly, this EXCELLENT article on the options for JPR is for "premium" users -- BUT -- if you can access it, do ...
-- my personal feeling is that the pension scheme could be subject to a RAA leaving that part out of the equation (a good thing) and that GoldenTree could convert debt into equity and launch a takeover ... as may - of course - Custos, Reach ... etc etc
-- BB --

Hope up, expect down.. Currently unchanged!
-- BB --
(have small holding .. Expect around 5p a share in any sale.. )

DOWN ... then ... UP!