How often do we hear the Westminster government saying oil is running out in the waters round our shores? It's an argument used by the UK government to persuade Scots that their 'pot of liquid gold' will soon be no longer.
Therefore, it's little wonder this story hasn't received a mention in the Scottish or English dead tree press or from TV or radio broadcasters.
Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and undeveloped field opportunities in the Atlantic margin, the North Sea and Norway, is pleased to announce 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.
Graham Stewart, CE of Faroe Petroleum commented:
The Glenlivet well is the first of a firm five-well Atlantic Margin exploration drilling programme which Faroe is undertaking over the coming months. On Tuesday 29 September, Faroe announced the spud of the second well in the programme, 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).
Credit to Jeanne Tomlin for her astute observation.