Thursday broker round-up
12th Apr 2012 09:30
African Minerals: Jefferies keeps buy rating and 1,100p target. Aggreko: Investec maintains buy rating. Cairn Energy: Nomura cuts target from 500p to 434p, buy rating kept. Faroe Petroleum: Nomura cuts target from 213p to 209p, buy rating kept. FirstGroup: Jefferies downgrades from buy to hold,
Read moreResource stocks round-up: Faroe, Edenville, Jubilee ...
27th Mar 2012 09:12
Faroe Patroleum hailed a 'truly exceptional year' for the company as it charged back into the black with pre-tax profits of £14.3m. This was a dramatic improvement on the £26m loss the year before. The company put the result down to a dramatic boost to production, proven reserves and cash flow, toge
Read moreResource stocks round-up: Stellar, Bowleven, Ithaca ...
26th Mar 2012 10:26
West Africa-focused Stellar Diamonds said it had discovered a significant maiden diamond resource at its Tongo Kimberlite Dyke Project in Sierra Leone. The firm said the high diamond grades and values exhibited at its Dyke-1 mine made it one of the highest value kimberlites in terms of dollars per t
Read moreFaroe can't 'get it on' with T-Rex or Bolan
7th Mar 2012 11:04
It's one of the classic problems faced by the oil and gas industry. A company will know hydrocarbons are present in their licence area, the question is, is there enough of the resource to make it commercially viable? Faroe Petroleum has found two of its prospects in the Norwegian sea, "T-Rex" and "
Read moreFriday broker round-up - UPDATE
2nd Mar 2012 09:28
Man Group: UBS raises target from 160p to 165p, buy rating unchanged. WPP: UBS ups target from 840p to 920p, buy rating kept. Standard Chartered: AlphaValue downgrades from reduce to sell, price target upped from 1,413.8p to 1,425.9p. IMI: Panmure Gordon keeps buy rating and 1,020p target. Cairn
Read moreKalvklumpen failure for Faroe Petroleum
13th Feb 2012 11:28
Faroe Petroleum has failed to find any hydrocarbons at its 20%-owned Kalvklumpen prospect in the Norwegian North Sea. The company says the data acquired during the drilling will be used to "de-risk" other prospects but the Faroe's Chief Executive, Graham Stewart, admitted the results were "disappoi
Read moreFaroe Petroleum wins seven exploration licences
18th Jan 2012 09:57
Faroe Petroleum, an independent oil and gas company, has been offered seven new prospective exploration licences on the Norwegian Continental Shelf under the 2011 Norwegian APA Licence Round. The company has been awarded two licences in the prolific Halten Terrace hydrocarbon province of the Norweg
Read moreFaroe starts drilling on Kalvklumpen prospect
11th Jan 2012 13:52
Faroe Petroleum, an independent oil and gas company, has begun drilling on the Kalvklumpen Prospect, located in the Norwegian North Sea. The Kalvklumpen Prospect, in which Faroe has a 20% interest, is situated east of the abandoned Frøy Field and the recent Atla discovery. The drilling operation
Read moreWednesday broker round-up - UPDATE
11th Jan 2012 08:56
Unilever: Bank of America Merrill Lynch downgrades to underweight from neutral. Aggreko: Credit Suisse downgrades to neutral from outperform. Capita: Citi upgrades to buy from neutral. Reckitt Benckiser: Morgan Stanley upgrades to overweight from neutral. Rentokil: RBC upgrades to top-pick fr
Read moreBP man has a dip
23rd Dec 2011 09:44
Brendan Nelson, a non-executive director of BP and a chairman of the firm's audit committee, has dipped his hand into his pocket and bought just under £50,000 worth of shares in the oil giant. Nelson, a chartered accountant and a partner in accountancy giant KPMG, paid slightly less than 450p a sha
Read moreFaroe and Centrica complete sidetrack well
7th Dec 2011 12:44
Faroe Petroleum, an independent oil and gas company, has reported the completion of a successful initial side-track well on the Butch oil discovery, in which it has 15% stake, located in the Norwegian North Sea. An intital side-track was drilled to appraise for additional volumes of oil surrounding
Read moreFaroe completes money-saving asset swap
5th Dec 2011 13:05
Faroe Petroleum has completed its asset swap with Petoro in preparation for an active drilling programme next year. Faroe swapped its 30% interest in the Maria discovery for Petoro's interest in various high quality oil and gas production assets in Norway. The swap means that the firm is no long
Read moreFaroe discovers new oil
18th Oct 2011 12:47
Oil exploration firm Faroe Petroleum rose 10% after it discovered new oil in the Norwegian North Sea on its Butch prospect, in which the firm has a 15% stake. The well where the oil was discovered encountered net oil pay of around 50 metres. The entire reservoir section is oil bearing and oil wate
Read moreUPDATE: Tuesday broker round-up
18th Oct 2011 09:21
BP: UBS raises target from 450p to 480p, keeps buy rating. Whitbread: Peel Hunt keeps buy stance and 2,096p target. Whitbread: Evolution Securities confirms buy recommendation and 1,750p target. F&C Asset Management: Singer Capital Markets cuts target from 70p to 65p, fair value rating kept. Be
Read moreLosses widen at Faroe, while sales jump four-fold
20th Sep 2011 07:53
Losses at oil and gas group Faroe Petroleum widened in the six months ended 30 June as exploration costs surged. Loss before tax totaled £24m, up from a loss of just £3.8m last year, while loss per share increased from 3p to 8.6p. However, revenues increased four-fold from £9.3m to £40.1m, reflect
Read more