It may not be to everyone’s taste in music, but Aerosmith’s rock has proved a winning bet for Faroe Petroleum. Shares in the oil and gas explorer surged after it said that it had discovered significant volumes of gas and condensate at a prospect in the Norwegian Sea that its geologists had named after the American band.
Somewhat disappointingly, Aerosmith — which lies at a depth of 3,932 metres — has been renamed Hades since then by OMV, the operator, while another prospect, Zappa, even deeper at 4,223 metres, has been called Iris.
The results of both did not disappoint, however. Hades is estimated to contain between 19 million and 113 million barrels and Iris between 19 million and 132 million barrels. Taking a