Kalvklumpen failure for Faroe Petroleum
Faroe Petroleum has failed to find any hydrocarbons at its 20%-owned Kalvklumpen prospect in the Norwegian North Sea.
Faroe Petroleum has failed to find any hydrocarbons at its 20%-owned Kalvklumpen prospect in the Norwegian North Sea.
The company says the data acquired during the drilling will be used to "de-risk" other prospects but the Faroe's Chief Executive, Graham Stewart, admitted the results were "disappointing".
He will also have been disappointed by his firm's share price which dropped 4% on AIM in morning trading. Over the last year the stock has now fallen 12%.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
BS
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?
Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
By Kalpana Fitzpatrick Published
-
What does Rachel Reeves’s plan for growth mean for UK investors?
Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
By Katie Williams Published