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.

4 comments:

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