Member Info for zebbo

Today, Faroe Petroleum rejected an unsolicited offer for their company by DSO. In their rejection of the offer they said amongst other things that the bid

" is equivalent to US$6.8(3) per barrel of 2P reserves and US$3.2(3) per barrel of 2P reserves + 2C resources, which is substantially below the average price paid recently for comparable North Sea (in particular, Norwegian Continental Shelf) portfolios of US$12.1 per barrel of 2P reserves and US$9.5 per barrel of Total Resources respectively.

not complaining, as we are still under the radar. Lots of oilers rose today by far bigger %%

Lets hope we dont get a low ball offer. The buy back has increased the SP, but relative mkt cap remains more or less the same. The BoD still have work to do to release true value

my conviction remains at the mo. Zero and total loss could be in store. No updates. Come on BoD, get down the local car booty and secure a sale. More than 1 sale may even get the SP moving

Basically there is no share price effecting information (hence no further updates), other than what has been communicated. No conspiracy theory.

New Year should bring around some SP movement. Or even conformation that the rig has moved to the next well.

No point telling everyone your money cannot stagnate. The solution is is simply sell....the end

Further PR would not harm, RRE is still very much under the radar.

That aside, IMHO a lot of penny shares punters buy a few 000's shares and think they will go to ££. Not realising that there a zillion shares in circulation and the shares will never reach lofty highs expected.

Not dissing punters of small shares (I have some myself) but there are a lot of investor illiterates out there

For starters...

A/B Block - A18 field infill well within the Petrogas was spudded early Oct. This well is expected to take approximately 40 days to complete

Update on Arran field where Shell is the operator. Four new development wells being drilled imminently.

Ross and Blake Field's production update and plans to increase production

Ive had to top slice N4P the other day for RRE current PE 1.4 still going through crazy re rating, the near term opportunity was to compelling. When done Ill be back to top up, hopefully before Christmas. Just hope I dont miss the boat.

Looks like we have found some stability after the recent spike which is encouraging

GLA

Exactly. I had to double check my research :-). IMHO this is just started to re rate, fcast £10+ by year end.

Note the PE has crept up to 1.4, absolutely crazy

++ news due near term.

Where is the kitchen sink....

Short spell of low oil prices may well play into RRE hands, opening up more / cheaper opportunities to take advantage of. Specially as we are not greatly impacted by short / med term low oil prices and gas price that continues to rise

in short order, see the PE has crept up to ~1.4

No at all, just highlighting market divergence within sector

RRE on a PE of 1 "yes 1" and re rating towards £15 or UKOG with greater mkt cap with diddly squat. Strange old mkt

Duster, thats not wholly fair. I understand the balance sheet etc. Just trying to get a better understanding around the strategy being deployed in order to realise value

Am I being thick here....please dont answer..

I get the tender price at 560, allowing large holders the opportunity to off load stock, that ordinarily they would not be able to do. However most trades are 'O' trades so looks like there is very little institutional action anyway. Most trades look to be PIs

If the tender is fully subscribed, the stock will become more volatile and trading in any size will be even harder.
If not fully subscribed, then what...
Is there a further plan after this exercise? As this alone action I dont believe it will yield the rewards everyone is hoping for (me included) IMHO
Happy to be educated on this matter

Permissions have been granted. Challenging the process really is scrapping the bottom of the barrel (no pun intended) Taisce need to be seen doing, thats about the long and the sort of it

In addition the latest date change was communicated a week after the fire. So will have been part of the timeline consideration.

No shockers, come on fairdealer20, play fair

Latest update

An investigation team from the PSA has now began work on the facility.

Namely, the objectives of the investigation include clarifying the course of events, describing the actual and potential consequences, and identifying the direct and underlying causes in order to contribute to learning lessons and experience transfer

Drilling has not ceased. This is standard H&S practice. Establish cause and apply improvements based on lessons learned

My sentiments exactly...

I would have thought 10p by March is quite a possibility so long as the main market doesn't dampen things too much. That said I expect the price to swing widly on the way up due to lack of free shares and the quantum of upside. The current market cap is far too low for 35 MMBOE 2C net let alone any the multifaceted upside potential. The 5-7 well fully funded drilling campaign will be the biggest chapter in this company's history and there's a definite possibility that results will blown 10p away completely. Ignore the daily SP fluctuation, focus on the market cap, the target valuation and the triggering catalysts.

Nothing to do with Barrymore or LOGP

PVR only and appears to be a load of tosh anyway

If Tom goes for JOG, Malcy will add them to the bucket list for sure