This company seems to have been searching for a long time - any ideas out there?

No drop if Butch turns out alright and Pil might be much..much...larger than first estimations !....40 million at first now 50 to 170 million....perhaps even far larger....timing is difficult...30 day rule (which is a pain in the arse and very unfair)(not in an Isa or Sipp)..(or if you are a city trader) restricts it a bit...you might sell out only for a great rns to appear...tricky...doing that...I'm staying put.....180p target...perhaps 200p now...can do it on spreads....(I'm very long by the way )...

So we've heard ;)

Are you in Balerboy ?...welcome aboard !...

Each day the sp drops at the start and by the end of session the sp goes slightly into blue...

I took a little profit a few days back and will wait for a pullback. Good luck if you are hanging on rf!

With both hands Harrycat.....not sure about a pullback....Butch and Pil results to come....fingers crossed for a positive result.....

There you go...sp recovering gently....

Butch East exploration well results

Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in the Atlantic margin, the North Sea and Norway, announces that drilling has reached target depth on the Centrica-operated Butch East exploration well 8/10-5S and a subsequent up-dip appraisal well 8/10-5A, the first of two back-to back-wells in Licence PL405, following up the Butch Main discovery (Faroe 15%).

The Butch East exploration well spudded on 29 December 2013 and reached total depth in 8/10-5A of 2,307 metres in the Zechstein salt formation. The well targeted sandstones of the Upper Jurassic reservoir of the Ula formation and whilst a good quality reservoir was confirmed, no hydrocarbons were encountered at this location.

Damn.....bloody hell...aggghhh...triggered my stop loss...eaten my profit on my spread....grrrrr...

Harry : you were right....

Sorry to see you got stopped out rf. It's getting more and more difficult to find oil in the North Sea, so in this instance thought it best to take profit early. Of course that could have gone either way and had they been successful I would be kicking myself. Don't forget that I don't S/B so I can always just sit and wait if necessary with stock.

I am mostly in shares as well so still in...but on the spreads had to buy back this morning....could not bring myself into closing them last week with all the pending news...still that was a nasty pullback, was not sure if Pil news was going to come first or second or together with Butch...plenty more news to come...good future overall for this company I reckon....180 to 200p target for me....the shares themselves are better for me than the high risk spreads...

FPM, like TLW, used to have the magic touch with the emphasis on the past tense

You won't regret picking some up Cynic...I can guarantee it..(terms and conditions apply)(over 18teens only).....

(well that's what Rolf Harris said anyway)...

and freddie starr walked out on susanna reid when given a only moderately leading question

more seriously ......

why should FPM be even as good a bet as XEL?

I reckon this year the sp might touch 200p.....they have so many prospects ..;...some are bound to come right plus production is rising and most of the exploration costs in Norwegian waters can be offset by 78 %....so ... 200p yes....

straws, nothing but straws
would rather back TLW or XEL

It's up to you but I prefer this one to the other two...am in XEL though...