** Shares in
** Preliminary gross volumes of recoverable hydrocarbons forthe Hades prospect are estimated to be 19 - 113 mmboe and 19 -132 mmboe for the Iris prospect, exceeding pre-drill estimates,according to Faroe
** Norwegian oil firm DNO said shortly afterwardsit had decided to build a long-term strategic shareholding inFaroe Petroleum and support its strategy to grow in the NorthSea
** Oil and gas sector down -0.2 pct
** OMV holds a 30 pct stake in the license wherethe discoveries were made, Statoil 30 pct, FaroePetroleum 20 Pct, Spirit Energy Norge 20 pct
** Stifel, Canaccord Genuity raise price targets for FaroePetroleum after announcment(Reporting by Shadia Nasralla, editing by Ron Bousso)