Silverstone on fast track to success in North Sea.

(From Aberdeen Press & Journal (UK))

Silverstone Energy, a fledgling North Sea exploration and production company, yesterday announced it will drill its first wells within a year.

The Aberdeen company, formed only nine months ago, also said it had identified several other exploration targets and expected to drill further wells in 2007 and beyond.

Its announcements follow a deal with ConocoPhillips and BP to drill two wells in the southern North Sea. Drilling on the first of them, the Vanquish well in block 49/16, is expected to start in March.

Silverstone did not reveal how much the deal was worth, but said it would be investing more than …