Thursday broker round-up UPDATE
17th Jan 2013 07:19
African Barrick Gold: Westhouse Securities reduces target price from 335p to 305p, while its sell recommendation is unchanged. Anglo American: Exane cuts target price from 2000p to 1650p and downgrades from neutral to underperform. Antofagasta: Exane ups target price from 1400p to 1500p keeping an
Read moreFaroe Petroleum 2012 production within expections
16th Jan 2013 12:50
Faroe Petroleum, an independent oil and gas company, has said that total average economic production for 2012 was around 7,200 barrels of oil equivalent per day (boepd), although production in the second half was lower than the first due to temporary unscheduled production shut-downs on the Njord, B
Read moreFaroe Petroleum doubles bank credit facilities for Norwegian exploration
21st Dec 2012 07:28
AIM-listed independent oil and gas company Faroe Petroleum has signed an increased bank credit facility to provide substantial additional finance to support the company's growth plans. The amount committed under the company's Exploration Financing Facility will be doubled to NOK 1bn (approximately
Read morePremier Oil announces failure of Spaniards East Well
6th Nov 2012 08:53
Premier Oil has disappointed its investors with the announcement that the Spaniards East Well in Block 15/21, in which it has a 28 per cent operating interest has been plugged and abandoned as a dry hole. Although the well encountered 75 feet of Jurassic sands, these were shown to be water wet on
Read moreFaroe Petroleum's P1161 licence proves a bust
2nd Nov 2012 13:12
Faroe Petroleum is giving up the ghost on its P1161 licence (Freya and Fulla), west of Shetland, in which it has a half-share and is the operator. Analysis of the results from an exploration well (206/5a-3) drilled on the Fulla prospect back in July confirm relatively poor oil quality, smaller than
Read moreFriday broker round-up
2nd Nov 2012 08:18
Associated British Foods: Panmure Gordon keeps hold rating and 1,300p target. Balfour Beatty: Goldman Sachs downgrades to neutral, target cut from 330p to 322p. BG Group: Deutsche Bank downgrades to hold, target cut from 1,700p to 1,350p; Liberum Capital downgrades to hold. British Sky Broadcasti
Read moreFaroe Petroleum awarded seven new licences
26th Oct 2012 13:34
North Sea oil explorer Faroe Petroleum said it has been provisionally awarded seven new exploration licences on the UK Continental Shelf in the UK's 27th Offshore Licensing Round. The Aberdeen based oil and gas firm, which last month increased its annual oil production forecast, said the new licenc
Read moreMonday broker round-up
15th Oct 2012 09:33
Anglo American: Goldman Sachs downgrades to sell. Antofagasta: Goldman Sachs downgrades to neutral, target cut from 1,150p to 1,100p. Asian Plantations: Panmure Gordon cuts target from 400p to 380p, buy rating kept. AVEVA: Panmure Gordon keeps hold rating and 1,878p target. Bellzone Mining: Gold
Read moreTuesday broker round-up
2nd Oct 2012 08:17
African Barrick Gold: Deutsche Bank raises target from 510p to 540p, hold rating kept. African Minerals: Deutsche Bank cuts target from 708p to 610p, buy rating kept. Allocate Software: N+1 Brewin downgrades to hold, target cut from 94p to 80p. Babcock: Investec raises target from 970p to 100p, b
Read moreFaroe Petroleum acquires new interests in Shetland
21st Sep 2012 11:39
Faroe Petroleum, an independent oil and gas company, is acquiring a 10 per cent non-operated interest in the East Foinaven Field and a 0.5 per cent interest in the West of Shetland Pipeline System from Marubeni Oil & Gas. The interests will be acquired for $32m in cash, but this will be reduced to
Read moreBroker snap: Action-packed year ahead for E&Ps, says Credit Suisse
28th Aug 2012 09:56
Credit Suisse has highlighted Ophir Energy as its focus list stock in its sector review of oil and gas explorers and producers (E and Ps). "We continue to favour select E&P names in Europe. The emphasis is on the 'E' that provides for uncorrelated returns via the drillbit, as activity looks set to
Read moreFaroe Petroleum's Cooper well is a no-go
24th Aug 2012 13:38
Faroe Petroleum, an independent oil and gas company, has drawn a blank on the first exploration well drilled in the production licence area 477 in the Norwegian Sea. Test drilling on the 6506/11-9 S Cooper well found oil but it could not be brought to the surface. The well will now be plugged and a
Read moreResource round-up: ECR Minerals, Bullabulling, Faroe Petroleum
23rd Aug 2012 14:14
Shares in ECR Minerals rose almost 4% after it drew the market's attention to the filing of a feasibility study on a copper flat in New Mexico. The company that owns the flat, THEMAC, is, in turn 19% owned by ECR. THEMAC now plans to begin the definitive feasibility mid-September 2012 and shortly af
Read moreFriday broker round-up
17th Aug 2012 09:22
Afren: Goldman Sachs downgrades to neutral. Borders & Southern Petroleum: Goldman Sachs downgrades to neutral. Coastal Energy: Goldman Sachs upgrades to buy. CRH: Credit Suisse downgrades to underperform. ENRC: Nomura cuts target from 500p to 400p, reduce rating kept. Faroe Petroleum: Goldman S
Read moreTuesday broker round-up
31st Jul 2012 09:19
Dignity: N+1 Brewin upgrades to add, target raised from 880p to 950p. Diploma: Jefferies reiterates buy rating and 510p target. Elementis: N+1 Brewin upgrades to buy, target upped from 220p to 230p. EnQuest: HSBC upgrades to overweight, target lifted from 135p to 143p. Faroe Petroleum: Nomura ra
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