Appointment of Joint Broker

23 December 2009
 
                              Faroe Petroleum plc
                          Appointment of Joint Broker
 
Faroe  Petroleum plc  ("Company") the  independent Oil  and Gas Company focusing
principally on exploration, appraisal and undeveloped field opportunities in the
Atlantic margin, the North Sea and Norway is pleased to announce the appointment
of  Oriel  Securities  Limited  as  joint  broker  to the Company, alongside our
nominated adviser Panmure Gordon (UK) Limited, with immediate effect.
 
                                    - Ends -
 
For further information please contact:
 
Faroe Petroleum plc                Tel: +44 1224 650 920
  Graham Stewart
 
Oriel Securities Limited           Tel: +44 20 7710 7600
  Michael Shaw/Neil Langford
 
Panmure Gordon                     Tel: +44 20 7459 3600
  Dominic Morley/ Ashton Clanfield
 
Financial Dynamics                 Tel: +44 20 7831 3113
  Billy Clegg/Edward Westropp
 
Notes to Editors
The  Company is actively building a balanced portfolio of exploration, appraisal
and production properties, with significant stakes and an active work programme.
   Faroe Petroleum has through  successive licence applications and acquisitions
built  a  substantial  portfolio  of  exploration,  appraisal,  development  and
production assets across the Atlantic Margin, the UK and Norwegian North Sea and
the  Norwegian Sea.  The licence portfolio  provides considerable spread of risk
and reward, encompassing over 40 licences with seven licences West of Shetlands,
six licences offshore the Faroe Islands, nine licences in the Southern gas basin
and  19 licences in the Norwegian North Sea,  Norwegian Sea and Barents Sea.  In
addition  Faroe has interests in five producing oil and gas fields in the UK and
Norway.    Faroe   Petroleum’s  joint  venture  partners  include  BP,  Chevron,
ConocoPhillips,  DONG,  DSM,  Eni,  E.ON  Ruhrgas,  GDF, OMV, RWE Dea, Shell and
Statoil all of which have an outstanding track record in oil and gas exploration
and development.
 
Faroe  Petroleum is quoted on  the AIM Market of  the London Stock Exchange with
offices   in  Aberdeen,  Stavanger  and  Torshavn.  The  Company  has  a  highly
experienced  team of professionals focused on creating exceptional value for its
shareholders.
 
[HUG#1367407]