Search Follow us

Faroe Petroleum (FPM)

Business description

Faroe Petroleum is an AIM-listed E&P with operations in Norway, UK and Ireland. Production in FY18 is expected to be 12–14kboed from an end-2017 reserve base of 98mmboe.

Stock data

Market cap.£568.3m
Last close152.40p
High / Low (52 weeks)170.6p / 91.2p
Stock market listingLN
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamResources - Oil & Gas
SectorOil & Gas

Price performance

%1m3m12m
Actual8.43.057.1
Relative *15.212.873.9

* % Relative to local index

Other companies in sector Show

88 Energy Activa Resources
ADX Energy Afren
African Petroleum Corporation AJ Lucas Group
Aminex Andes Energia
Antares Energy Athabasca Resources
AusTex Oil AWE
Azonto Petroleum Bankers Petroleum
Bitesize Briefing BNK Petroleum
Bowleven Bridge Energy
Buru Energy Cairn Energy
Canacol Energy Canadian Overseas Petroleum
Canoel International Energy Cap Energy
Carbon Energy Carnarvon Petroleum
CBM Asia Development Central Petroleum
Challenger Energy Coastal Energy
Columbus Energy Resources Cooper Energy
Core Laboratories Cue Energy
Denbury Resources DEO Petroleum
Deutsche Rohstoff Diversified Gas & Oil
Dragon Oil Drillsearch Energy
Egdon Resources Elk Petroleum
Energy XXI Exillon Energy
Exoma Energy Falkland Oil & Gas
Fastnet Oil & Gas Forum Energy
G3 Exploration Gasol
Genel Energy Genie Energy
Great Eastern Energy Corporation Greka Drilling
Gulf Keystone Petroleum Gulfsands Petroleum
Hawkley Oil & Gas Hellenic Petroleum
Hurricane Energy Hydrodec Group
IPB Petroleum Ithaca Energy
JKX Oil & Gas Karoon Gas
Kea Petroleum Kina Petroleum
Kreuz Holdings Lansdowne Oil & Gas
Leed Petroleum Leigh Creek Energy
LGO Energy Lion Energy
Liquefied Natural Gas Lochard Energy
Madagascar Oil Madalena Energy
MEC Resources Mediterranean Oil & Gas
MEO Australia Mosman Oil and Gas
Nautical Petroleum New Standard Energy
New Zealand Oil & Gas Nido Petroleum
Nighthawk Energy North Sea Energy
Northern Petroleum Norwest Energy
Otto Energy Pacific Rubiales
Parex Resources Petrel Energy
Petro Matad Petroceltic
Petromanas Energy Petrominerales
Po Valley Energy Premier Oil
President Energy Pura Vida Energy
Quadrise Fuels International Ramba Energy
Range Resources Real Energy
Real Energy Corporation Regal Petroleum
Renergen Rockhopper Exploration
SacOil Holdings Salamander Energy
SDX Energy Sefton Resources
Senex Energy Sequa Petroleum
ShaMaran Petroleum Simba Energy
SOCO International Solo Oil
Sound Energy Sound Oil
Sterling Energy Stratic Energy
Tethys Petroleum Touchstone Exploration
Tower Resources TransAtlantic Petroleum
TransGlobe Energy Valiant Petroleum
Vermilion Energy Victoria Oil & Gas
Wentworth Resources WestSide Corporation
Xcite Energy

Investment summary

DNO ASA has announced the terms of an offer for the whole of the issued and to be issued share capital of Faroe Petroleum. The offer will be 152p/share in cash for each Faroe share, valuing Faroe’s existing issued and to be issued share capital at c £607.9m.

Last updated on 29/11/2018

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2016A 94.8 (33.5) (61.6) (10.6) N/A 8.6
2017A 152.9 44.0 (21.0) (5.1) N/A 4.2
2018E N/A N/A N/A N/A N/A N/A
2019E N/A N/A N/A N/A N/A N/A

Last updated on 28/11/2018

Latest research

DNO cash offer for Faroe at 152p/share

Flash note | Oil & Gas | 28/11/2018

Agar/Plantain discovery

Flash note | Oil & Gas | 15/11/2018

Rungne uncommercial discovery

Flash note | Oil & Gas | 14/11/2018

DNO - Norway Jose

Initiation | Oil & Gas | 01/10/2018

Latest video

Bitesize briefing - Faroe Petroleum

Industry outlook

At 152p/share, DNO’s offer values Faroe’s existing issued and to be issued share capital at c £607.9m. Of the offer value of approximately £443.8m on a fully diluted basis, £402.6m is attributable to the current issued share capital of Faroe (other than the Faroe shares already held by DNO, representing 28.22% of Faroe’s issued share capital, and the Faroe Employment Benefit Trust). The balance £41.2m is attributable to DNO’s understanding of the number of outstanding share options and awards granted by Faroe to its directors, management and employees. For the purposes of the Takeover Code, Edison Investment Research is deemed to be connected with Faroe Petroleum.

Last updated on 29/11/2018

Key management

John Bentley, Chairman
Graham Stewart , CEO
Jonathan Cooper, CFO
Helge Hammer, COO

Company address

55 Strand
London
WC2N 5LS
United Kingdom
+44 (0)20 7839 9720
View website