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

thanks for that RF .... shall look again tomorrow, prob with buying boots

Did you buy some Cynic ?....sp doing well...but nothing is sure about the next well results....long term, it looks excellent value....300p is not beyond this stock regardless of current well expectations.....5 more wells to come within a year at least....

yes i did, this morning, though at slightly too high a price

One of the tips this week in the Investors chronicle.....lot...lot more to come....in time...perhaps in a year, this might be worth double what it is today....

Above 2 now and rising....also possibility of a takeover for FPM as the Koreans are on the prowl along with a few others....

An update on their latest well must be due soon....

Still no news.....really overweight on this one....a dry well would not be a disaster as plenty more coming up....but a success could send the share price into the stratosphere....plus news on possible Greenland acreage is due soon....so plenty in the pipeline for this gem.....

RF - you don't half go out on a limb! .... hope you have more than the normal count of fingers

I have bought in heavily here.....biggest asset in my portfolio.....so many positives.....could be taken out by a bigger boy as well....even if the latest well comes up dry, it will not be a disaster like for many other oil companies...if you read through their finals or interims..: the number of assets is impressive, coupled with a not exaggerated sp....looks tremendous to me, this one.....

Should be nearing target....might have encountered hydrocarbons....still no news...

Looks like : quite a few buys this morning.....are we about to break away from the 200p's....?.

Good purchase...with production plus exploration...good balance of assets.....could hit a huge discovery in future years....

RNS

And where is the bad news ?.....sp down on what ?....

Faroe Petroleum plc ("Faroe Petroleum" or the "Company")

Results of Anne Marie exploration well and operational update on Lagavulin
exploration well


Faroe Petroleum plc, the independent oil and gas company focusing principally on
exploration, appraisal and production opportunities in the Atlantic margin, the
North Sea and Norway, is pleased to announce the results of drilling on the Anne
Marie exploration prospect (Faroe Petroleum 12.5%), located offshore in Licence
005 in the Faroe Islands, and provide an operational update on drilling on
Lagavulin, UK west of Shetlands.

Anne Marie
Well 6004/8a-1 on the Anne Marie prospect was spudded on 23/07/2010 and drilled
to a total depth of 3,901m, in 1,106 metres water depth, 190 kilometres south
east of Tshavn. Total depth was reached on 25 October 2010. Hydrocarbons have
been found in thin sandy layers dispersed in a thick volcano-clastic sequence of
Paleocene age, indicating robust evidence of the presence of an active petroleum
system. Further analyses are in progress to evaluate the size and the
characteristics of the discovery.

The Norwegian semi-submersible drilling rig Seadrill West Phoenix, which was
used for the drilling operation, is expected to plug and abandon the well as
planned and move away from the location in the coming days.

The joint venture is composed of Eni Denmark BV as operator with 25%
participating interest, Dana Petroleum 25%, OMV 20%, Cieco E&P (Faroe) Limited
12.5%, First Oil Expro 5% and Faroe Petroleum 12.5%.

Lagavulin
The Lagavulin exploration well (Faroe 10%), operated by Chevron, in the UK
Atlantic Margin to the west of the Shetland Islands, was spudded last month.
The well is being drilled with the Stena Carron drillship operating 230
kilometres (143 miles) north east of Chevron's Rosebank/Lochnagar discovery.
The Lagavulin well will target a number of potential oil bearing reservoirs of
pre-Cretaceous to Paleocene age located within a large, elongated four-way
structural closure. Lagavulin, which lies across blocks 217/10 and 210/14 and
15, has a reserve potential of more than 500 million barrels of oil equivalent,
classing Lagavulin as one of the largest undrilled structural closures on the
Atlantic Margin. The well is expected to take around 120 days to complete from
spud.

Graham Stewart, Chief Executive of Faroe Petroleum, commented:

"Whilst we did not encounter thick reservoir sands at the Anne Marie well
location, the discovery gives us significant encouragement to continue
exploration efforts in this licence, which we have held together with ENI for
over 10 years."

"Our high impact exploration programme continues with the drilling of Lagavulin,
and Faroe's ongoing multi-well exploration drilling programme will carry on
through 2011 and beyond as we push forward to test our substantial northern seas
portfolio of over 40 significant licences, to which we have last week added a
further four, as operator, awarded under the UK's 26th Licensing Round."

On to the next well....I'm not getting any rns's here at all...

brave face on bad result

I have faith in this company long term.....hydrocarbons found....loads of wells to be drilled...one day they will hit a huge strike...just a matter of time....and the market cap is still low....compared to others...

SEO has a low market cap too and CNT even lower

Don't be ridiculous Cinners.....you know it's a good one....come back in a year or even just 3 to 4 months...250p minimum....in a year 300p to 400p....