Faroe Petroleum PLC Fixed Income Investor Meetings (1184W)
November 10 2017 - 2:00AM
UK Regulatory
TIDMFPM
RNS Number : 1184W
Faroe Petroleum PLC
10 November 2017
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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
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