Market Reaction: Slightly negative as we carried the well at only £0.01 per share (RENAV). We would buy the shares on any weakness today ahead of drilling at Blink and Boomerang from June/July with an overall Unrisked NAV of £0.40 per share. We understand that production is strong with limited decline and good uptime. Faroe has the best balance sheet within our North Sea coverage universe.
20 May 2015
DRY HOLE AT BISTER
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DRY HOLE AT BISTER
Faroe Petroleum (FPM:LON) | 0 0 (-0.4%) | Mkt Cap: 371.0m
- Published:
20 May 2015 -
Author:
Stephane Foucaud -
Pages:
2
Market Reaction: Slightly negative as we carried the well at only £0.01 per share (RENAV). We would buy the shares on any weakness today ahead of drilling at Blink and Boomerang from June/July with an overall Unrisked NAV of £0.40 per share. We understand that production is strong with limited decline and good uptime. Faroe has the best balance sheet within our North Sea coverage universe.