killermanjarrow
12 Sep 2017
Duster and 100p party woohoo!
Disorder
28 Jul 2017
Re: NEW ARTICLE: The Oil Man: Faroe Petroleu... Faroe PetroleumFaroe (FPM) has bought another 14% of the Blane field from Nippon for $5.25 million (£4 million) or $5 per barrel, cheap by any measure.This is an absolute no-brainer as it is synergistic, enormously good value and adds production at a price unavailable elsewhere.
II Editor
28 Jul 2017
NEW ARTICLE: The Oil Man: Faroe Petroleum, Pantheon Resources "WTI $49.04 +29c, Brent $51.49 +52c, Diff -$2.45 +23c, NG $2.97 +5cWith oil slightly up this morning it looks like the week will end in positive territory, 7% or so is a good result post the St Petersburg meeting.Kuwait has joined the UAE and KSA ..."[link]
Disorder
28 Jul 2017
Re: Acquisition of Further Interest in UK Bl... Dont we all "KNOW" that an RNS signifying Delek have increased again is on the cards.The newsflow has been superb, the share is just so lightly traded (Under the radar) that it fails to respond to the depth of news.Its been called LUDICROUSLY cheap.I think any of us who have even performed minimum research would agree with that.
Disorder
28 Jul 2017
Acquisition of Further Interest in UK Blane Field As has been stated in certain press outlets already The SP of Faroe is "Lucicrous". !!!!Acquisition of Further Interest in UK Blane FieldRNS Number : 3573MFaroe Petroleum PLC28 July 2017 28 July 2017 Faroe Petroleum plc ("Faroe", "Faroe Petroleum" or the "Company"
Acquisition of a further Interest in UK producing Blane FieldFaroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway and the UK, is pleased to announce the conditional acquisition of a further 13.9935% interest in the Blane Field in the UK North Sea ("Blane Interest" from JX Nippon Exploration and Production (U.K.) Limited ("JXN" for a total consideration of $5.25 million (the "Acquisition". Highlights o Value accretive: consideration of $5.25 million corresponds to approximately $5.0/boe; value synergies include greater profitability, tax efficiency and enhanced debt capacityo Strategic fit: deal consolidates Faroe's existing Blane position to in aggregate a 44.5% non-operated interest; high quality 420 API oil, tied-back to Ula (Faroe 20%), one of Faroe's key hubso High margin field: Blane is a low operating cost field and the derived 2016 EBITDAX attributable to the Blane Interest was $5.4 million.o Upside potential: Blane had 2016 gross production of approx.2,900 boepd and has potential to grow reserves, extend field life and reduce unit opex Blane was discovered in 1989, and is located on the Central Graben of the UK continental shelf, extending into the Norwegian sector. Production commenced in September 2007 from a Tertiary Palaeocene Forties sands reservoir with a structural closure. The field has been developed as a sub-sea tie-back to the Ula platform (Faroe 20%), located on the Norwegian continental shelf (34 kilometres to the north east), and currently comprises two horizontal production wells with gas lift and one water injection well. The 13.9935% interest in the Blane Field is derived from a 17.0653% interest in UK Licence P111 covering Block 30/3a (upper).The Acquisition is expected to complete before the year-end and is subject to UK regulatory approval, the approval of the Blane joint venture partners and the resumption of production after the completion of certain scheduled sub-sea works this summer. The Acquisition consideration of $5.25 million, prior to working capital adjustments from the effective date of 1 January 2017, is to be funded from existing cash resources.The Blane Field is operated by Repsol Norge AS and the other joint venture partners are Dana Petroleum (BVUK) Limited and Repsol Sinopec Resources UK Limited. Graham Stewart, Chief Executive of Faroe Petroleum, commented: "We are pleased to announce this Acquisition, which further increases our stake in this low cost, high quality and long life asset and at a fair value of $5.0 per boe. Raising our stake again in Blane, offers significant upside potential as we realise synergies through Blane's use of our key Ula hub; increasing net production, reducing average operating costs, increasing profitability and providing access to further reserves potential from the field. The transaction is also very tax efficient for us, providing shelter for both past and future tax losses in the UK. Faroe continues to advance a number of key projects in and around the Ula hub area, all of which will serve to extract greater value from this particular deal through improved operating synergies.
high blood pressure1
27 Jul 2017
Re: Malcy I don't know but every time I try and buy stock I'm quoted a firm price more than the bid!Managed to pick up £15,000 of stock this a.m at 84.35-84.7
ookyfly
27 Jul 2017
Re: Malcy Can anyone tell us what percentage of shares are free float?
Disorder
27 Jul 2017
Re: Malcy Stating what we all know.I think we also all know that FPM will be subject of a takeover.We all know that it is odds on to be Delek.A low price succesful takeover will in part be down to us, the humble PI. There is not a huge amount of free float stock, and the lack of sustained buys means there is no driver to push it northwards.Isvit that PI are not aware of FPM, or just that they dont like odds on certainties.
forwardloop
26 Jul 2017
Malcy Ludicrously undervaluedwww.proactiveinvestors.co.uk/columns/the-pay-zone/28263/oil-price-faroe-petroleum-echo-energy-tullow-oil-range-resources-petrofac-and-finally-28263.html?utm_source=Sign-Up.to&utm_medium=email&utm_campaign=7163-367737-Proactivity+-+26%2F07%2F2017
olechr
26 Jul 2017
Re: Brass Discovery I think the best thing would be a buyer to part of the Brasse, maybe 25% from both Faroe and Point - so we have a new operator (Not that I got anything to say against FP being operator) and some cash, a lot.The most like buyer would be Statoil, as the exploration has not found the volume they need. But that will mean a tie in to OsebergI think is more likely to tie in to Brage, as FP and Point are partners there. That will say Wintershall should buy. Not sure if that is likelyAgain, the tie in will be partly controlled by development cost and capacity and finally the tariff for production (the later would favor Brage, due to partnership).Again all good news today
Hub
26 Jul 2017
Re: Brass Discovery Decent result and inline with initial estimates. I think they would have liked p numbers up nearer 60mmboe than low 50's after this appraisal but the narrow range should enable reserve based lending heading into H2 2018.Faroe will need to commit around $275m based on the 4 x well case (circa 24kboped). They have the debt facility already in place but do have other commitments.With over £120m in cash, they look in fine shape considering the woeful PoO environment.The market seems to struggle at the moment with 'real' data vs 'pie in sky' stuff. For instance, PMO announced a billion barrel discovery and the share price has barely moved if you account for PoO's recent bounce. Then there's UKOG as an example. Absolutely no indication on definitive resources or economics on projects going forwards yet the stock jumps 700% in a few weeks.Based on that casino style pricing, I doubt the market has a scooby doo what it should be doing with FPM.It might take a predator like Delek to jog the markets memory on what happens to 'share prices' when 'real value' offers come in.Not sure FPM can do much more than they have already - stead as she goes.HUB
olechr
26 Jul 2017
Interview with CEO Helge Hammer [link] only in Norwegian, but the want to develop Brasse, 4.5 milliard Nok (~450 mGBP), 30.000 barrel/day, first oil 2020/21Just good news, so hope we see that on the shareprice
Disorder
26 Jul 2017
Exceeding Expectations. With Delek interest and continued good news exceeding expecatations its strange how the sp behaves?? Surely not manipulated like other Oil stocks (PMO, PVR etc)Graham Stewart, Chief Executive of Faroe Petroleum commented: "We are very pleased to announce the completion of this successful, Faroe-operated, appraisal programme of the Brasse field, which considerably exceeded expectations and further confirms the commerciality of this discovery. The programme has established excellent reservoir quality and reservoir communication, together with excellent flow rates, even at the periphery of the field. This new data has resulted in an increased resource range to 56-92 mmboe and a substantial increase to flow rate expectations."The Brasse field is clearly a very significant and valuable asset, with very attractive economics even at long term low commodity prices. The close proximity of the field to existing competing infrastructure combined with its prolific reservoir qualities and shallow water depth ensure this field can be developed expediently, taking full advantage of the current low cost environment. "As an established E&P operator, Faroe is well equipped to progress this important project and we look forward to providing further progress updates in the coming months."
Disorder
26 Jul 2017
Successful Brasse sidetrack well results Faroe Petroleum PLCSuccessful Brasse sidetrack well resultsRNS Number : 0846MFaroe Petroleum PLC26 July 2017 26 July 2017 Faroe Petroleum plc ("Faroe", "Faroe Petroleum", the "Company" Successful Brasse sidetrack well results - increased volume rangeFaroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway, the UK and Atlantic Margin, is pleased to announce the results of the 31/7-2S Brasse sidetrack appraisal well in the Norwegian North Sea (Faroe 50% and operator, Point Resources 50%). Highlights· Volume increase: recoverable resource volumes now estimated at between 56 and 92 mmboe (from 43 to 80mmboe)· High net to gross: very high quality reservoir sands with a very high net to gross ratio· High quality light crude: similar quality crude to the nearby producing Brage field (Faroe 14.3%)· Reservoir encountered close to prognosis: penetrated gross hydrocarbon-bearing reservoir section with approximately 18 metres of oil and 4 metres of gas in the sidetrack well· Attractive field development economics: field economics robust at low commodity prices and with fast track potential· Faroe to progress as operator: work underway to take field to development with first oil in 2020/21 The Brasse appraisal well sidetrack 31/7-2A has been drilled to a total depth of 2,275 metres TVDSS, targeting the reservoir 1.0 kilometre to the west of the appraisal well (31/7-2 announced on 13 June 2017) and 2.4 kilometres to the south of the main discovery well (31/7-1 announced on 16 June 2016). An extensive data acquisition programme was carried out in the 31/7-2A sidetrack, including the cutting of cores together with a full suite of wireline logs and fluid samples. The sidetrack well successfully penetrated the gas-oil contact and the oil-water contact in the southern part of the Brasse field and encountered approximately 18 metres of gross oil-bearing and 4 metres of gross gas bearing Jurassic reservoir above the oil water contact. Preliminary results show that the well has encountered oil in a sand-rich reservoir of very good quality with the same oil-water contact as in the discovery well (31/7-1) and in the main bore of the appraisal well (31/7-2). The pressure data indicates good pressure communication within the reservoir. Based on extensive data collected from the initial discovery well, initial sidetrack, appraisal well (with drill stem test) and the appraisal well sidetrack, the total gross volumes of recoverable hydrocarbons for the Brasse field have been revised up to 46-76 mmbbls of oil and 59-97 bcf of dry gas (56-92 mmboe in aggregate). The Brasse field discovery was made by Faroe in 2016 and is located within tie-back distance to existing infrastructure: 13 kilometres to the south of the Wintershall-operated Brage field platform, in which the Company holds a 14.3% working interest and 13 kilometres to the south east of the Statoil-operated Oseberg Field Centre. Extensive feasibility studies of the Brasse field development have been carried out focusing on a sub-sea development solution tied-back to either one of the hosts in the nearby area. This work is ongoing and external studies have already been undertaken for the joint venture for the Subsea Production System (SPS), flow assurance and pipeline and marine work. Technical and commercial activities related to the potential hosts were formally initiated in Q4 2016. This work is ongoing and progressing according to plan and in accordance with the regulations relating to the use of facilities by others as set out by Norwegian authorities. The preliminary reservoir development plan includes three to six production wells and an optional water injection well for pressure support. Initial flow rates from the prolific Brasse reservoir are expected to be higher tha
olechr
26 Jul 2017
Brass Discovery 6,8 og 12,7 millioner Sm3 recoverable [link]
