North of Scotland

Faroe’s defences ‘exhausted’ after exploration failure, DNO says

January 3, 2019

Bosses at DNO have picked apart a report indicating its takeover bid for Faroe Petroleum was too low. DNO also said it was “troubled” by Faroe’s latest exploration disappointment with the Brasse East well. It follows last month’s disappointment with the Cassidy exploration well offshore Norway. >> To read more on Energy Voice, click here <<

North of Scotland

Faroe urges shareholders to snub ‘opportunistic’ DNO bid

November 27, 2018

Bosses at Faroe Petroleum urged investors to snub a hostile takeover offer from Norwegian oil firm DNO and hold onto their shares. Aberdeen-headquartered Faroe said the unsolicited, £444m bid was “opportunistic and substantially undervalued” Faroe. The London-listed firm encouraged shareholders to take no action. >> Read more on Energy Voice here <<