Atlantic Petroleum P/F announces Brugdan 2 update
P/F Atlantic Petroleum (OMX: FO-ATLA) today announces that the Faroes Licence 006 operator Statoil and licence 006 partners Atlantic Petroleum and ExxonMobil are planning to return to the Brugdan 2 location in the first half of 2014, where operations were suspended late 2012.
Atlantic Petroleum holds 1% equity in Faroes Licence 006. Statoil Færøyene AS is the operator with 50% equity and ExxonMobil Exploration and Production Faroe Islands Limited holds 49% equity in the licence.
Ben Arabo, CEO, commented:
“We are very much looking forward to returning to the Brugdan 2 location in the first half of 2014. The timing is good for AP, as the company is currently drilling the potentially very high impact Dunquin well in Ireland, and we expect to spud the UK Pegasus appraisal well later in 2013, followed by a possible Perth appraisal well late 2013.”
Source: GLOBE NEWSWIRE
P/F Atlantic Petroleum
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