Faroe Petroleum upbeat on mixed Anne Marie results

Source: Stockopedia - Oil and gas group Faroe Petroleum Plc (LON:FPM) reported this morning that hydrocarbons had been discovered in the Anne Marie exploration well in the Faroe Islands, although drilling had failed to hit the thick reservoir sands that had been hoped for. Nevertheless, Faroe said the drilling results had given it enough encouragement to continue exploration on Licence 005. Elsewhere, the company said that the Chevron operated Lagavulin exploration well in the west of Shetland had spudded last month and should take 120 days to complete.
Click here to read more