Faroe Petroleum Plc (FPM.L) reported that the company was awarded a new exploration licence in Norway and was prequalified as an operator for the Norwegian Continental Shelf.

The press release is quoted as saying:

The oil and gas explorer said significant hydrocarbon potential had been identified within the new Norwegian Sea licence, PL477B, located adjacent to the company's existing PL477 Cooper licence. Faroe Petroleum was awarded a 30 percent interest in the licence.

Click here to access the entire press release ^[1]