We have adjusted the resources we carried for Butch and Pil in line with the independent report. We have also derisked these resources from 75% to 100%. We have also reduced our reserves estimates for the UK asset, while we have increased what we carried for Norway. Overall our Core NAV and RENAV now stand at £1.07 and £1.16 per share respectively (£1.03 and £1.13 per share previously). The share price currently discounts DACF Multiples of about 1.1x for 2016 and 1.6x
06 Jan 2016
2P Reserves Double
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2P Reserves Double
Faroe Petroleum (FPM:LON) | 0 0 (-0.4%) | Mkt Cap: 371.0m
- Published:
06 Jan 2016 -
Author:
Stephane Foucaud -
Pages:
5
We have adjusted the resources we carried for Butch and Pil in line with the independent report. We have also derisked these resources from 75% to 100%. We have also reduced our reserves estimates for the UK asset, while we have increased what we carried for Norway. Overall our Core NAV and RENAV now stand at £1.07 and £1.16 per share respectively (£1.03 and £1.13 per share previously). The share price currently discounts DACF Multiples of about 1.1x for 2016 and 1.6x