Thursday, August 14, 2008

Atlantic Petroleum has struck oil!

The Faroese based oil-company, Atlantic Petroleum, has found oil, in a field, outside Aberdeen, Scotland, called Blackbird. AP owns a 8.27% share of this field.

Read the press release here.


Workman said...

So what does this mean?

More money for the Faroes?

Does it make it more likely there will be oil closer to the Faroes?

Faroe-Man said...

This means more money for the investors. As I can see from their homepage, their sales went up 8%, in wake of this.

Oil has been found closer than this, and yet, none here.

Anonymous said...

Just delurking...

The AP share is 8.27%, not 12%.

Faroe-Man said...

I've no idea, why i've got that wrong. It's Bow Valley which has a 12% share. I'll correct it.

Brain Bliss