Faroe Petroleum is pleased to announce an oil discovery in the main bore of the Boomerang exploration well (Faroe 25%).

Main bore 6406/12-45:

•Drilled close to the Pil discovery •The well encountered a 26 metre gross Upper Jurassic intra-Spekk/Rogn sandstone with good reservoir properties and moveable oil with preliminary estimates of recoverable volumes in the discovery range between 13 and 31 million barrels of oil equivalent •Hydrocarbons were also confirmed above the Pil oil-water contact in and 80 metre gross interval of Melke age sandstone of varying reservoir quality •The main Pil reservoir sandstone was encountered within the water leg, as planned, giving important appraisal information for the Pil development

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