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Managed to lower my average ! Solid company with excellent assets ! Undervalued imho Could be a star in 2019 Average now near mid 30s GLA

If you “know full well about the bond” then please explain to me how NET CASH can reach current market cap within 12 months... I make it closer to 2-3 years and that assumes oil prices remain stable at these levels and don’t get focaccia taken out of them ! I would love for these to be trading at 400p tomorrow but dislike blind ramping

You’re forgetting about the debt! Cash minus debt at September/ October = 0! The company has recently just got into a NET CASH position! I’m sure you know that being an investor here

Hmmmm Tempted to take some off the table here put it on FPM who have just received a broker target of 185p from Barclays and an updated offer is expected to be coming in next week from DNO... could be a quick 20% -30% before coming back here .... just a thought ...

Is it the same “the baron” who lost his shirt on Weatherly International (WTI)? You should always DYOR! Buying because Davey from the local Pub bought at a higher price is a sure way to bankruptcy. I agree though at 32p it’s decent value

Some chunky ones there ! Me thinks some institutional investors have had enough and want out at all costs ! Could be more pain in the mean time! Will turn positive once the sellers have cleared out ...

Was advising people to sell FPM Faroe and lump it all on “G”! If I had done that, I would be 13% -15% worse off in 2-3 days! In these sort of markets it’s better to spread the risk... I have a large holding in both but feel there may be more pain here during these uncertain markets! FPM is relatively sheltered due to its bid situation and an improved offer is expected shortly! “G’s” SP has done well over past 18 months here and some people may wish to take some coins off the table... Will top up here if next week it goes below 150p

Haha Maldini I assume you don’t agree with him? Neither do I but let him get it out of his system then he’ll disappear

Absolutely agree with you Jake ! That’s my take also... if they decide to come back in June I expect the market share price will be closer to 250 rather than 150! Is that a risk they are willing to take ? Are they then willing to pay a 50-60% premium on top of that? Ruhani or Rubini or whatever his name is needs to think very carefully!!

If it’s a cash sale LT holders will be farked! I think a merger could do OPHR a world of good! Someone like Soco who have assets in SEA also ... With a similar market cap could be beneficial for both companies... I can’t see anyone offering more than 50p / share in cash at the moment!

This is definitely NOT a buy and hold long term type share! I maintain a core holding (which is probably a mistake) but would have been better off selling everything a couple of days ago at 600!! I actually got a quote but got greedy when I considered I can make massive gains if I wait for another 30-40p! With uncertainty re the vote and Brexit next week, I can see my self being able to top up at 460 by Wednesday next week ! Need to sell some stocks and have some powder dry!

I’m willing to humour you and be nice .... Go on .... tell me everything you want to say but not in code .... Who is this top 5 law firm ? Who is the plaintiff? What is the legal dispute? Where are the references to this ? Surly legal cases aren’t hidden ! Specially if law firms have been engaged ! Stop talking sheet and in riddles ! Just spelll out the gibberish you want to say

If they decide that FPM isn’t for them, I doubt that will have a negative impact on a 20,000 BOPD cash rich producer paying a dividend! One thing they can’t do is “drip feed”! They’ll have to sell like how Dalek sold and find a buyer for the entire holding! It’s physically impossible to “drip feed” 28% of the company! It’ll take them years to get out! Either way time is running out for them!

Analysister I don’t think it’s putting the bid in doubt. It’s another blatant negotiation tactic! I do hope you’re right and I do hope DNO decide to Foxtrot Oscar!!!

High yield You are correct ! There have been a high volume of shares traded! These were NOT bought by DNO or a connected party because that would have to be declared or it would be illegal! This is people buying in the hope of an increased bid above £2! I don’t know how many takeover situations you’ve been a part of but the share price usually trades at 2-3 % below the takeover price if it is likely to get accepted! The fact that we have been trading at 160 tells you that a higher offer is coming! 152 was simply a starting point for negotiations not a final offer! All should be clearer next week!

High yield I appreciate DNO aiming to get the company as cheap as possible! But they are actually doing themselves more harm than good! Their reputation is in tatters! They come across as devious, sneaky weasels ! Which self respecting organisation will want to do business with them in future? They try and sneak into the FPM board and say it is all due to corporate governance concerns then less than 60 days later make a bid that would value the company at less than 2 x 2019 EBITDA! Blind Freddy saw them coming ! As for what price might do it ? I think they might get some holders accepting £2 but that is very short sighted because we can reach £2 based on the current 2 explo wells we are drilling! DNO will miss the opportunity to acquire Faroe due to their stubbornness! They come across as penny wise and pound foolish!

Company just issued Merlon Acquisition circular and notification of AGM. Date is 21/12/2018 with completion targeted at half 1 2019

Thanks nickel! Appreciate it!

If someone else comes out the woodwork with a better offer ! I would love for FPM to be sold to anyone other than DNO !

Fully agree with you Cebo! You posted your post while I was typing mines! I believe DNO will be back next week with another offer but I just can’t see them getting a deal done judging by their RNS. The risk they have is that by June 2019 when their PUSU restrictions expire we would have drilled another 5 exploration wells, multiple development wells & workoves, we would also be producing 20,000 BOPD and generating profits of £10 million per month!!!! Share price will be above £2 and their premium will have to take us to £3+ .... that’s too risky for them to walk away now !