DONG Drills Successful Sidetrack at Glenlivet Gas Discovery

Transocean Rather
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As a 10% partner in the DONG E&P UK operated license P1195, Faroe Petroleum has reported on the results of the side track appraisal well on the recent Glenlivet gas discovery, West of Shetland.

The side track was successfully drilled and confirmed the lateral extent of the high quality gas bearing reservoir. Based on the preliminary logging data, the results exceed the prognosed net gas column and reservoir quality.

The partnership has decided to drill a second side track appraisal well.

Glenlivet is a Palaeocene gas discovery, and the 214/30a‐2 well was drilled by the operator DONG E&P UK (80%) and partners Faroe Petroleum (10%) and First Oil Expro (10%) using the Transocean Rather semisubmersible drilling rig. The well was drilled in a water depth of 1,430 feet and reached total depth of 7,654 feet measured depth on Friday, September 11, 2009.

Graham Stewart, Chief Executive of Faroe Petroleum commented, "We are very pleased to report the successful outcome of the side track appraisal well, which has reconfirmed the presence of a significant accumulation of hydrocarbons and based on the preliminary logging data, the results exceed the prognosed net gas column and has found a better than predicted reservoir quality.

"The Glenlivet well is the first of a firm five‐well Atlantic Margin exploration drilling program which Faroe is undertaking over the coming months. On Tuesday, September 29, Faroe announced the spud of the second well in the program, operated by OMV, which will test the Tornado oil prospect, located close to BP's producing Schiehallion field. Following Tornado we are scheduled to drill three further high impact exploration wells, the Anne Marie oil prospect in the Faroes (operated by Eni), the Cardhu oil prospect in the UK (operated by BP) and the Lagavulin oil prospect in the UK (operated by Chevron)."

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