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Faroe Petroleum (FPM)

Business description

Faroe Petroleum is an independent oil and gas company focused on value creation through exploration and appraisal drilling in the Atlantic Margin (Faroe Islands and UK West of Shetlands), the North Sea and Norway.

A growing production base

Update | Oil & Gas | 02/07/2009

Faroe recently announced its entry into the Barents Sea with a new licence operated by BG and an asset swap in Norway which gives it an additional 800bbl/d of production. With seven committed and fully funded wells over the next two years, there is potential for substantial share price appreciation over the next 18 months.

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Stock data

Market cap.£233.5m
Last close109.750p
High / Low (52 weeks)149.5p / 105.5p
Stock market listingLN
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamResources - Oil & Gas
SectorOil & Gas

Price performance

%1m3m12m
Actual(5.8)(15.6)(23)
Relative *(4.5)(16.3)(28.4)

* % Relative to local index