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Hi all, Do any of you know what companies have North Yorkshire sites that are on the Stock Market? I am currently in oils and coal but wanting to invest in Shale as it seems a good close interest. North Yorkshire sites are what I am interested in as it is close to home
Production results may have been low but we awarded another licence. Cheer up folks, this has some serious solid potential!
Highlights Activity · Significant increase in production o Produced an average of 8,581 boepd in the period (1H 2011: 1,263 boepd) o Four principal producing fields (Blane, Njord, Brage, and Ringhorne East) o Significant investment in development and production wells · Increased production cashflow continuing to finance enhanced exploration programme · Active programme of investment in drilling and new ventures o Five exploration wells of which Butch confirmed as a significant discovery o Drilling ongoing on the BP‐operated North Uist exploration prospect West of Shetland o Portfolio success rate on exploration remains high (approx. 50% in the period 2009-12), despite lack of commercial discoveries during in 1H 2012 o Considerable new licence application activity, with Faroe now taking the lead as operator in several joint ventures Financial · Revenue increased significantly to £90.6 million (1H 2011: £40.1 million - including sale of pre-completion oil inventory on Blane of £26.8 million) · EBITDA(1)increased six-fold to £62.8 million (1H 2011: £10.1 million) · Profit after tax of £3.7 million (1H 2011 loss: £18.2 million) o Includes substantial income from producing assets o Includes expensed exploration costs of £53.2 million (1H 2011: £25.9 million) · Cash of £103.2 million at 30 June 2012 (31 December 2011: £111.6 million) · Norwegian tax receivable of £22.6 million (1H 2011: £36.3 million) · Forward exploration programme fully funded Post-Balance Sheet Events · Committed reserve based lending facility increased to $250 million and extended to 2017 - provides finance for further investments and acquisitions · Acquisition of 12.5% of Licence PL531 in Barents Sea, including well on high-impact Darwin prospect · Tests on Cooper hydrocarbons failed to flow oil to surface - further evaluation to be carried out Outlook · Spaniards and Rodriquez South wells expected to spud in 2H 2012 · Drilling programme targeting up to five material wells next year, including Darwin, Novus (Faroe-operated) and Butch exploration wells · 2012 production guidance 7,000-8,000 boepd · Exploration and development capital expenditure for 2012 forecast at approx. £205 million (approx. £120 million after Norwegian tax rebate) · Active preparations to apply for further licences in near-term licensing rounds (Norway) · Well positioned and funded to achieve significant growth through exploration and acquisition · Pursuing opportunities to extend our exploration model in new areas (1) EBITDA (earnings before
THE EXPLORATION COMMENCES!!!!!!!! Rise and shine
ITS ABOUT TIMEE!! Good luck all, Hopefully see some real buys coming in over thee next month on the back of the new well and positivity
The Company has been awarded two licences in the prolific Halten Terrace hydrocarbon province of the Norwegian Sea. "Faroe Petroleum is very pleased to have been awarded seven prospective exploration licences in the 2011 Norwegian APA licensing round. Winning these licences in such a highly competitive round is real testament to the skills and creativity of the technical team we have in place and the continuing success we have delivered with the drill bit across our Norwegian licence areas. Three of the new licences are operated by Faroe and we have licence equities across the seven licences ranging from 20% to 75%, demonstrating our growing ambitions for exploration in Norway. These awards see us enter a number of exciting new joint venture relationships, and continue our very successful working relationship with Centrica, with whom we have made three discoveries in the past two years." - Graham Stewart, Chief Executive of Faroe Petroleum plc,
Sozzard folks, wrong link to the RNS... The previous one was a new article about the RNS! http://www.proactiveinvestors.co.uk/companies/rns/120111fpm3426v
Okay, lets hope this news is followed by what it deserved A BLUE DAY! http://www.proactiveinvestors.co.uk/companies/news/37670/faroe-petroleum-says-drilling-starts-on-kalvklumpen-oil-prospect-in-north-sea-37670.html "We are pleased to announce the spudding of the Kalvklumpen well, the first of our multi-well 2012 exploration drilling programme which includes North Uist in offshore UK waters west of the Shetlands and three wells offshore Norway: Clapton, Cooper and Rodriguez." "the Norwegian T-Rex exploration well continue,”
Yes, one explaining the commencing of The Butch and one declaring the abandonment of the sh*tty one
"The Butch discovery, announced on 18 October 2011, has opened an exciting new oil play. An appraisal side-track was drilled successfully, directly following the discovery well, proving up light oil in excellent quality reservoir. The operator (Centrica) has calculated a preliminary resource estimate of 30 to 60 million barrels of oil equivalent." POSITIVE IMHO
T-Rex exploration well commences in Norwegian Sea "is pleased to announce that drilling has commenced on the T-Rex prospect (Faroe 30%), located in the Norwegian Sea." The Norwegian Kalvklumpen exploration well is also expected to spud in December, making this a particularly exciting period in our exploration programme
Yeas I agree.. We are still in the RBS top list of 'What to Buy' shares that was renewed yesterday. Soo much potential and good news on the way .. GLA
New Oil Rig on its way to be installed for operation as seen on III forum. Great video of it travelling at 1knot to start pumping oil out for this great company.. Looking forward to the next production report!
A sea of red the last 2 days but this is holding up. Shows the potential for a boom on a good market day. We have many good things to come regarding announcements and progress updates. This is one of my favourites!
Do you have any tips you can share? I have just sold Thor and SNRP and I want to invest in the next big thing (like everybody). You seem to have your brains about you so I would really appreciate any tips. will-woolley@live.co.uk
Increasing production Despite its history, Norseman Gold was only established as far back as June 2006, in order to purchase the assets of gold mining operator Croesus, which had entered administration. Since then, the focus has been on refurbishing the site, and making improvements to plant and equipment. “2008/2009 was a very productive year for us, with net cash generated of AUS$25.5 million and a total cash balance of AUS$32.6 million at end of year,” said Cahill last year. Norseman Gold aims to become a mid-tier mining company in Australia. So the company remains in the midst of a growth period. The Norseman Project is at the centre of the company’s operations and produces at a rate of around 80,000 ounces per annum. Gold is sourced from two high-grade narrow-vein underground mines: the Bullen and the Harlequin. It has a total resource inventory of 2.0 million tonnes at a grade of 5.5g/t gold for 3.7 million ounces, and a reserve inventory of 1.4 million tonnes at a grade of 8.9g/t gold for 400,000 ounces. In addition to gold mineralisation, the Norseman Project holds magnetite iron ore potential. Cahill has been largely responsible for the turnaround that saw Norseman Gold go from an AUS$8.7 million loss in 2008, to a declared profit of AUS$20.3 million after tax in the 2009 financial year. Cahill makes it his duty to go into poorly performing operations and turn them into profitable operations. A mining engineer by trade, he has spent over 20 years in mining and management throughout Australia. His experience in management extends to underground and open pit mines, as both a mining contractor and an operator. Cahill has worked on the Leinster nickel mine and the Broken Hill base metal mine. When we last spoke to him, Cahill reiterated that Norseman Gold now has all the strength to grow, with a “good workforce and management team in place”. Exploration potential The Norseman area is considered to have huge exploration potential at the greenfields and brownfields levels. The Norseman Project also contains key strategic infrastructure, including a 700,000 tonnes per annum CIL treatment plant, administration offices and housing. The company’s tenements, which are centred on Norseman Town, cover a 1,614 square kilometre area. The landholding comprises 179 contiguous tenements consisting of 13 Exploration Licenses, 106 Mining Licenses, 45 Prospecting Licenses, 15 Miscellaneous Licenses and 29 Mining Lease Applications. Cahill revealed to us in 2009 that Norseman Gold was working to increase reserves at the mine through exploration drilling. From 400,000 ounces, the company is on target to increase reserves to 500,000 ounces and then 750,000 ounces over a two year period. Of course, the company has had the economic crisis to contend with in the last year but the indications are that Norseman Gold is continuing its run of success. It recently invested in underground loading and
http://www.businessreviewaustralia.com/company-reports/norseman-gold-plc
Did you buy in before the Australian mining tax legislation was announced like I did? My average is 67p so almost there! It is definitely a long term share though
What do people think will happen to this share price when the football season ends?