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For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

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We store and use information you provide as follows:

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We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

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We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email in the first instance.

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Faroe Petroleum PLC (FPM)

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Tuesday 29 September, 2009

Faroe Petroleum PLC

Drilling of west of Shetland Tornado exploratio...

29 September 2009

            Faroe Petroleum plc ("Faroe", the "Company")

   Drilling of west of Shetland Tornado exploration well commences

Faroe Petroleum plc,  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  that  drilling has  commenced  on  the  Tornado
prospect (Faroe 7.5% working Interest), west of Shetlands.

Tornado is an  oil prospect, located 130 km west of the Shetlands
Islands in 1,100m of water adjacent to the undeveloped BP-operated
Suilven  field, and within tie-back distance of the producing
Schiehallion oil field.
Faroe was awarded the Tornado interest under the UKCS 22nd  Licensing
Round and in May 2007 farmed down  on promoted terms half of its  20%
interest to Idemitsu E&P  UK Limited. This was  in line with  Faroe's
strategy of farming-out the majority of drilling costs to reduce  its
cost exposure whilst retaining material remaining interests.

Following the farmout,  Faroe holds  a 10% interest  in Block  P.1190
(Block 204/13)  which  represents  a 7.5%  working  interest  in  the
Tornado prospect under the terms  of a joint activity agreement  with
the adjacent licence holders (P.1262, Block 204/14b).

The drilling operation is to be  undertaken by the operator OMV  (UK)
Ltd using the Stena Carron drillship.

Graham Stewart, Chief Executive of Faroe Petroleum commented:

"We are very pleased to announce the start of the drilling operations
on the Tornado prospect. Tornado is the second well to be drilled  in
the firm  five-well Atlantic  Margin exploration  drilling  programme
which Faroe  is undertaking,  and  follows on  from our  very  recent
Glenlivet  discovery  which  is  currently  being  appraised  with  a
side-track well.

"Following Tornado,  we are  scheduled to  drill three  further  high
impact exploration  wells in  the Atlantic  margin, namely  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)".

                               Ends -

Faroe Petroleum plc
Graham Stewart
Tel: +44 1224 650 920

Panmure Gordon
Ashton Clanfield
Tel: +44 20 7459 3600

Financial Dynamics
Billy Clegg/Edward Westropp
Tel: +44 20 7831 3113


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