Market Reaction: positive. This is likely to have a positive impact on our valuation as we will fully derisk reserves associated to Pil. This reserves increase will also likely be supportive to Faroe's borrowing base and access to debt funding. Faroe remains one of the very few International E&P stories with a large Net Cash position and no current balance sheet concerns.
06 Jan 2016
POSITIVE RESERVES UPGRADE
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POSITIVE RESERVES UPGRADE
Faroe Petroleum (FPM:LON) | 0 0 (-0.4%) | Mkt Cap: 371.0m
- Published:
06 Jan 2016 -
Author:
Stephane Foucaud -
Pages:
2
Market Reaction: positive. This is likely to have a positive impact on our valuation as we will fully derisk reserves associated to Pil. This reserves increase will also likely be supportive to Faroe's borrowing base and access to debt funding. Faroe remains one of the very few International E&P stories with a large Net Cash position and no current balance sheet concerns.