18th Sep 2013 09:38
LONDON (Alliance News) - Faroe Petroleum PLC Wednesday announced the spudding of the Statoil-operated Snilehorn exploration well 6407/8-6 in the Norwegian Sea.
Chief Executive Graham Stewart said in a statement that this was the first in its six well programme, and if the project is successful it would offer the opportunity to add new production at a low cost.
Shares in the oil and gas company were trading down 1.00 pence at 130.25 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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