TIDMFPM

RNS Number : 1184W

Faroe Petroleum PLC

10 November 2017

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA OR TO ANY U.S. PERSON, OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT.

10 November 2017

Faroe Petroleum plc

("Faroe Petroleum" or the "Company")

Fixed Income Investor Meetings

Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway and the UK, has mandated Danske Bank, DNB Markets and SEB to arrange a series of fixed income investor meetings commencing on 15 November 2017. Subject to market conditions, a senior unsecured bond issue of $100 million, with an expected tenor of five years may follow.

Following the success of Faroe Petroleum's exploration, appraisal and corporate activities, the Company has built a strong and diversified portfolio of producing assets with expected net production of 13-15,000 boepd in 2017, as well as a number of high-quality development projects on the Norwegian Continental Shelf. Whilst there can be no certainty that a debt transaction will follow the Company's investor meetings, any debt raised will support the Company's stated goal of increasing materially its profitable production.

- Ends -

For further information please contact:

 
 Faroe Petroleum plc           Tel: +44 1224 650 
  Graham Stewart / Jonathan           920 
  Cooper 
 Stifel Nicolaus Europe        Tel: +44 20 7710 
  Limited (Nominated Adviser          7600 
  and Joint Stockbroker) 
  Callum Stewart / Nicholas 
  Rhodes / Ashton Clanfield 
 BMO Capital Markets (Joint    Tel: +44 20 7236 
  Stockbroker)                        1010 
  Neil Haycock/ Tom Rider/ 
  Jeremy Low 
 FTI Consulting (IR Contact)   Tel: +44 20 3727 
  Edward Westropp / Emerson           1000 
  Clarke

The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No. 596/2014, and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

Disclaimer

This announcement (and the information contained herein) does not contain or constitute an offer to sell or the solicitation of an offer to purchase, nor shall there be any sale of securities in any jurisdiction where such offer, solicitation or sale would constitute a contravention of the relevant laws or regulations of such jurisdiction.

This communication and the information contained herein is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States unless they are registered or are exempt from registration. Any public offering of securities to be made in the United States would be made by means of a prospectus that would contain detailed information about the company and its management, as well as financial statements. The company does not intend to register any portion of any offering of securities in the United States or to conduct a public offering in the United States or any other jurisdiction. Copies of this communication are not being, and should not be, distributed in or sent into the United States.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCEAFFEFDEXFEF

(END) Dow Jones Newswires

November 10, 2017 02:00 ET (07:00 GMT)

Faroe Petroleum (LSE:FPM)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Faroe Petroleum Charts.
Faroe Petroleum (LSE:FPM)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Faroe Petroleum Charts.