inconclusive traces of oil mixed with water in the Lopra-1 experimental well drilled in the early 1980s. Geological mapping of the islands started in 1938 and, among the very earliest surveys known to have been [...] followed the long grind to get legislation finalised and onto the statute book, the decades-long boundary dispute with the UK settled, and the first licensing round launched. The last mentioned and, in practical [...] achieved in the first |Faroes campaign is smack on the global average. The trick now is to multiply that success several times over during the next two to three years, convert the discoveries into commercial

conference in Torshavn, to compare the effects on Norway and Newfoundland. In Norway, the contribution of the petroleum industry to the national gross domestic product (GDP), after decades of activity, recently [...] to contrast developments in Newfoundland and Shetland. Much has been achieved in the latter, including the way in which an innovative legislative initiative has resulted in significant government revenues [...] Schrimpton It was a great pleasure to be back in the Faroe Islands recently, and it was very good news to hear, soon after I returned to Newfoundland, of the positive results from the Amerada-Hess well.