Faroe Petroleum announced last week that drilling had started on North Sea block 14/21 in the North Halibut field. The well is being operated by Oilexco, which is paying 80 per cent of the costs for a 55 per cent stake. Faroe will retain 45 per cent. This should keep interest in Faroe high in coming weeks. If you bought on recommendation in September last year at 160p, it is worth continuing to hold at the current 153.5p.
