This song is referring to the forced conversion of the Faroes in the year 999 when they came under control of Olaf I Tryggvason, king of Norway. It also mentions his killing of Eirik Bloodaxe's last son (Eirik was the son of Jarl Haakon, whose death let Olaf take power in Norway, and the last of Haakon's line dying prevented others with a strong claim).
This song is referring to the forced conversion of the Faroes in the year 999 when they came under control of Olaf I Tryggvason, king of Norway. It also mentions his killing of Eirik Bloodaxe's last son (Eirik was the son of Jarl Haakon, whose death let Olaf take power in Norway, and the last of Haakon's line dying prevented others with a strong claim).