Faroe Petroleum Plc, Aberdeen, U.K., (London: FPM) plans to acquire a 10% interest in Norwegian licenses PL006C and PL006D in the North Sea from Stavenger, Norway-based Noreco ASA.

PL006C and PL006D contain the South East Tor discovery and the Hyme prospect. A well to appraise South East Tor is planned for the fourth quarter or first quarter of 2009. Lundin Petroleum holds 75% of the joint venture for both licenses and is operator, with Noreco holding a 15% retained interest.

Net contingent reserves are approximately 1.9 million barrels of oil.

LGR Resources Ltd., Vancouver, (CNQ: MHPT) has closed its acquisition of privately held, Cayman Islands-based Stream Oil & Gas Ltd. for an ...