I was braced for a real bruiser of a sherried and mature speyside but this showed a little more subtlety than I expected, which is not a bad thing. The nose has lots of rich oak, sweet oranges and dark chocolate. The taste has more dark chocolate, caramel and sherry notes. The finish starts stringent and not especially spicy, but some pepper notes build and some more dry and oak notes come through as well. This one opens up with time and the last sip was quite different from the first. Delicious.