Situated in the heart of the Gulf Stream in the North Atlantic at 62°00'N, the Faroe Islands lie northwest of Scotland and halfway between Iceland and Norway.
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.
So what does this mean?
ReplyDeleteMore money for the Faroes?
Does it make it more likely there will be oil closer to the Faroes?
This means more money for the investors. As I can see from their homepage, their sales went up 8%, in wake of this.
ReplyDeleteOil has been found closer than this, and yet, none here.
Just delurking...
ReplyDeleteThe AP share is 8.27%, not 12%.
I've no idea, why i've got that wrong. It's Bow Valley which has a 12% share. I'll correct it.
ReplyDelete