With production of 11,324 boe/d significantly ahead of the 8 mboe/d - 10 mboe/d full year guidance, an opex of US$22/boe, cash increasing by £14 mm by YE15 to £107 mm, net cash representing almost 40% of the share price and an additional exploration well operated by Shell (RDSA/B LN) being added to the 2015 drilling programme, Faroe remains one of our preferred stories in the UK. We maintain our Top Pick recommendation and £1.20 target price, based on the latest results to M
25 Jun 2015
From Strength to Strength
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
From Strength to Strength
Faroe Petroleum (FPM:LON) | 0 0 (-0.4%) | Mkt Cap: 371.0m
- Published:
25 Jun 2015 -
Author:
Stephane Foucaud -
Pages:
5
With production of 11,324 boe/d significantly ahead of the 8 mboe/d - 10 mboe/d full year guidance, an opex of US$22/boe, cash increasing by £14 mm by YE15 to £107 mm, net cash representing almost 40% of the share price and an additional exploration well operated by Shell (RDSA/B LN) being added to the 2015 drilling programme, Faroe remains one of our preferred stories in the UK. We maintain our Top Pick recommendation and £1.20 target price, based on the latest results to M