Norway awarded a record 83 blocks to explore for petroleum resources in mature areas of the Norwegian continental shelf, in a sign of continuing interest from oil companies in the country's oil sector, the energy ministry said on Tuesday.A lack…
Faroe Petroleum's Chief Executive Graham Stewart, Chief Financial Officer Jonathan Cooper and Chief Operating Officer Helge Hammer will resign, Faroe said on Friday after the company was taken over in a hostile bid by DNO.The executives, including Stewart who was among the founders of Faroe…
Norwegian oil company DNO has secured control of Faroe Petroleum, a day after raising its hostile bid for the British company to 641.7 million pounds ($819 million).The move effectively ends a bitter battle that started around nine months ago when DNO bought a stake in the British firm…
Norwegian oil company DNO ASA raised its bid for Britain's Faroe Petroleum to 641.7 million pounds ($816 million) on Tuesday, lifting its cash offer to 160 pence per share from 152 pence.Shares in Faroe, which rejected DNO's 610 million pound…
Norwegian oil company DNO has achieved another slight increase to its stake in Faroe Petroleum, it said on Friday as it continues its battle for control of the British business.DNO's combined ownership and bid acceptances now stands at 43.8 percent…
Norwegian oil and gas operator DNO ASA subsidiary DNO Oman Block 8 Limited has relinquished operatorship and participation in the offshore Oman Block 8 to the Sultanate of Oman's Ministry of Oil and Gas (MOG) and state-owned Oman Oil Company Exploration and Production LLC (OOCEP)…
Norwegian oil company DNO said on Thursday that it now requires only 50 percent of Faroe Petroleum shareholders to back its takeover bid after it lifted its stake in the UK firm, boosting the chances the hostile offer will go through.Shares in both companies jumped after DNO's statement…
North Sea player Faroe Petroleum published an independent valuation of its assets by Gaffney, Cline & Associates (GCA), which is said to highlight the inadequacy of DNO ASA's GBP608 million at 152p per share takeover offer.Faroe Petroleum could…
Britain's Faroe Petroleum reiterated on Thursday its opposition to a hostile bid by Norway's DNO, which it said was 'inadequate' and substantially undervalued the Aberdeen-based firm.DNO, which last week maintained its offer to buy Faroe in…
Norwegian oil firm DNO has bought another 914,732 shares in Faroe Petroleum at 151.6 pence each, it said on Tuesday.The purchase, at just below the 152 pence per share price it has offered in a takeover bid for Faroe, adds slightly to DNO's stake…
The oil and gas company with focus in Norway and the U.K. Faroe Petroleum has reaffirmed that Norwegian oil giant DNO ASA's GBP608mln ($761.65 million) unsolicited takeover offer for the AIM-listed firm is 'opportunistic' and 'substantially' undervalues it…
Norway's DNO is sticking to its offer to buy Faroe Petroleum for 152 pence per share, valuing the company at about 610 million pounds ($761.65 million), insisting it is an attractive offer despite its rejection by the Faroe board.The Faroe board…
Faroe Petroleum has struck a deal to swap Norwegian oil and gas assets with Equinor, in a move that could raise the price that hostile bidder DNO has to pay to secure the British energy company.While Faroe Petroleum's Chief Executive Graham…
Shares in Faroe Petroleum skyrocket 25 percent, as DNO’s takeover bid targets company that engineered low breakeven price.Oil prices might have fallen 30 percent since September’s highs, but there’s still great business to be had for Norway-based North Sea asset player DNO…
Norway's DNO has launched a hostile bid to buy all of Faroe Petroleum in a deal valuing the London-listed company at around 608 million pounds ($781 million), sending Faroe shares up by a quarter.DNO, which already owns 28 percent of Aberdeen-based Faroe…
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