Last 90.00 GBp
Change Today +0.50 / 0.56%
Volume 442.1K
FPM On Other Exchanges
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Exchange
London
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As of 11:35 AM 10/24/14 All times are local (Market data is delayed by at least 15 minutes).

faroe petroleum plc (FPM) Snapshot

Open
91.00 GBp
Previous Close
89.50 GBp
Day High
91.00 GBp
Day Low
89.00 GBp
52 Week High
05/2/14 - 154.75 GBp
52 Week Low
10/16/14 - 86.25 GBp
Market Cap
240.3M
Average Volume 10 Days
1.4M
EPS TTM
-0.0099 GBp
Shares Outstanding
267.0M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for FAROE PETROLEUM PLC (FPM)

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faroe petroleum plc (FPM) Details

Faroe Petroleum plc, an independent oil and gas company, is engaged in the exploration, appraisal, development, and production of oil and gas fields in Northwest Europe. The company holds interests in the Njord, Hyme, Brage, and Ringhorne East fields in Norway; and the Blane and the East Foinaven fields in the United Kingdom. It also holds production interests in the Jotun field in Norway; and the Schooner, Topaz, and Orca gas fields in the UK Southern Gas basin. The company was founded in 1997 and is headquartered in Aberdeen, the United Kingdom.

46 Employees
Last Reported Date: 06/3/14
Founded in 1997

faroe petroleum plc (FPM) Top Compensated Officers

Chief Executive Officer, Executive Director, ...
Total Annual Compensation: 479.0K GBP
Chief Financial Officer
Total Annual Compensation: 167.0K GBP
Chief Operating Officer, Executive Director, ...
Total Annual Compensation: 380.0K GBP
Compensation as of Fiscal Year 2013.

faroe petroleum plc (FPM) Key Developments

Faroe Petroleum plc Wins Three New Licensing Options in the Celtic Sea, Ireland

Faroe Petroleum announced the award of three new Licensing Options (LO 14/1, 14/2 and 14/3) by the Minister for Communications, Energy and Natural Resources in the Celtic Sea, Republic of Ireland. Highlights of the contract is three Licensing Options awarded to Faroe in the Celtic Sea (Faroe 100% and Operator), low cost work programme involving the reprocessing and interpretation of 2D seismic data for each licence and the preparation of supporting geological studies, located in the southern margin of the North Celtic Sea basin, targeting the substantially un-explored Triassic Play, similar to that of the Wytch Farm oil field onshore UK, Initial interpretation of existing 2D seismic data has revealed the presence of a number of large structural traps within the Licensing Option areas and Faroe will deploy recent advances in modern seismic reprocessing techniques to substantially improve the seismic imaging. The two-year Licensing Options are located on the southern margin of the North Celtic Sea basin, in relatively shallow water depths of between 80 and 110 metres, which together cover an area of 3,458km2 and are all situated within 75km of the south coast of Ireland.

Faroe Petroleum Mulls Acquisitions

Faroe Petroleum plc (AIM:FPM) intends to pursue acquisitions. The company is well positioned and funded to achieve significant near term growth through exploration drilling, field investments and potential asset acquisitions.

Faroe Petroleum plc Reports Unaudited Group Earnings Results for the Six Months Ended June 30, 2014; Provides Production and Exploration, Development and Production Capital Expenditure Guidance for the Year 2014

Faroe Petroleum plc reported unaudited group earnings results for the six months ended June 30, 2014. For the period, the company reported revenue of £53.5 million against £89.0 million a year ago, reflecting a 48% decrease in production compared to first half of 2013. EBITDAX for the period was £15.6 million against £56.9 million a year ago. The decrease is principally driven by the reduction in gross profit caused by the Njord and Hyme shut-in. Loss before tax was £20.1 million against profit before tax of £17.6 million a year ago, reflects significantly lower accounting production compared to first half of 2013.  Operating loss was £15.358 million against £20.560 million a year ago. Loss profit for the period was £3.737 million or 1.86 pence per diluted share against profit for the period of £12.232 million or 5.14 pence per diluted share a year ago. Net cash generated in operating activities was £26.844 million against £57.584 million a year ago. Purchases of intangible and tangible assets was £75.107 million against £67.089 million a year ago. The company announced that economic production guidance for the full year 2014 of 7,000-10,000 boepd following the acquisition of Schooner and Ketch - in line with previous guidance; Exploration, development and production capital expenditure for 2014 forecast at approximately £130 million, amounting to approximately £60 million after Norwegian tax rebate against pre-tax £122 million, post-tax £74 million a year ago, in line with previous guidance.

 

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Industry Analysis

FPM

Industry Average

Valuation FPM Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 2.4x
Price/Book 0.8x
Price/Cash Flow 12.1x
TEV/Sales 2.4x
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