West of Shetland Glenlivet discovery - side track appraisal well
(Thomson Reuters ONE) - 21 September 2009 Faroe Petroleum plc ("Faroe", the "Company") West of Shetland Glenlivet discovery - side track appraisal wellFaroe Petroleum plc, the independent oil and gas company focusingprincipally on exploration, appraisal and undeveloped fieldopportunities in the Atlantic margin, the North Sea and Norway, ispleased to announce that the drilling of a side track appraisal wellhas commenced to assess the Glenlivet West of Shetland gas discovery(Faroe 10%) announced last week.The purpose of the appraisal well is to assist in determining thepotential reserves and thereby the commerciality of the discovery. The results of the appraisal well are expected within a weekfollowing which a further announcement will be made. - Ends -EnquiriesFaroe Petroleum plcGraham StewartTel: +44 1224 650 920Panmure GordonKatherine Roe/Ashton ClanfieldTel: +44 20 7459 3600Financial DynamicsBilly Clegg/Edward WestroppTel: +44 20 7831 3113James Jordan, who is a Geophysicist (with a BSc and MSc in Geologyfrom University College London), is Faroe Petroleum's ExplorationManager for UK and the Faroe Islands and who has been involved in theenergy industry for more than 19 years, has read and approved thetechnical disclosure in this regulatory announcement.Notes to EditorsThe Company is actively building a balanced portfolio of exploration,appraisal and production properties, with significant stakes and anactive work programme. Faroe Petroleum has through successivelicence applications and acquisitions built a substantial portfolioof exploration, appraisal, development and production assets acrossthe Atlantic Margin, the UK and Norwegian North Sea and the NorwegianSea. The licence portfolio provides considerable spread of risk andreward, encompassing nearly 50 licences with eight licences West ofShetlands, six licences offshore the Faroe Islands, two licences inthe Moray Firth area of the UK Central North Sea, nine licences inthe Southern gas basin and 19 licences in the Norwegian North Sea,Norwegian Sea and Barents Sea. In addition Faroe has interests infive producing oil and gas fields in the UK and Norway. FaroePetroleum's joint venture partners include BP, Chevron,ConocoPhillips, DONG, DSM, Eni, E.ON Ruhrgas, GDF, OMV, RWE Dea,Shell and Statoil all of which have an outstanding track record inoil and gas exploration and development.Faroe Petroleum is quoted on the AIM Market of the London StockExchange with offices in Aberdeen, Stavanger and Torshavn. TheCompany has a highly experienced team of professionals focused oncreating exceptional value for its shareholders.---END OF MESSAGE---This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 21.09.2009 - 08:01 Uhr
Sprache: Deutsch
News-ID 6008
Anzahl Zeichen: 0
contact information:
Town:
London
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 227 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"West of Shetland Glenlivet discovery - side track appraisal well"
steht unter der journalistisch-redaktionellen Verantwortung von
Faroe Petroleum PLC (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
