Glenlivet discovery - successful side track appraisal well

2009-09-30 08:07:02 -
London, September, 30, 2009
30 September 2009

            Faroe Petroleum plc ("Faroe", the "Company")

   Glenlivet discovery - successful side track appraisal well and
                decision to drill a second side track

As a 10%  partner in the  DONG E&P UK  operated licence P1195,  Faroe
Petroleum  plc,  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 results of  the side track appraisal well  on
the recent Glenlivet gas discovery, West of Shetland.

The side track  was successfully  drilled and  confirmed the  lateral
extent of  the high  quality  gas bearing  reservoir.  Based  on  the
preliminary logging data,  the results exceed  the prognosed net  gas
column and reservoir quality.

The partnership has decided to drill a second side track appraisal
well.

Glenlivet is a Palaeocene gas  discovery, and the 214/30a-2 well  was
drilled by  the  operator  DONG  E&P  UK  (80%)  and  partners  Faroe
Petroleum (10%) and First Oil Expro (10%) using the Transocean Rather
semi-submersible drilling rig.  The well was drilled in a water depth
of 1,430 feet and reached total depth of 7,654 feet measured depth on
Friday, 11 September 2009.

Graham Stewart, Chief Executive of Faroe Petroleum commented:

"We are very  pleased to report  the successful outcome  of the  side
track appraisal  well,  which  has  reconfirmed  the  presence  of  a
significant accumulation of hydrocarbons and based on the preliminary
logging data, the results  exceed the prognosed  net gas column   and
 predicted reservoir quality.

"The Glenlivet well is the first of a firm five-well Atlantic  Margin
exploration drilling programme  which Faroe is  undertaking over  the
coming months.  On Tuesday 29 September, Faroe announced the spud  of
the second well in  the programme, operated by  OMV, which will  test
the  Tornado   oil  prospect,   located  close   to  BP's   producing
Schiehallion field.   Following Tornado  we  are scheduled  to  drill
three further  high  impact exploration  wells,  the Anne  Marie  oil
prospect in the Faroes (operated by Eni), the Cardhu oil prospect  in
the UK (operated  by BP)  and the Lagavulin  oil prospect  in the  UK
(operated by Chevron)".

                              - Ends -

Enquiries

Faroe Petroleum plc
Graham Stewart
Tel: +44 1224 650 920

Panmure Gordon
Ashton Clanfield
Tel: +44 20 7459 3600

Financial Dynamics
Billy Clegg/Edward Westropp
Tel: +44 20 7831 3113

James Jordan, who is  a Geophysicist (with a  BSc and MSc in  Geology
from University  College London),  is Faroe  Petroleum's  Exploration
Manager for UK and the Faroe Islands and who has been involved in the
energy industry for  more than 19  years, has read  and approved  the
technical disclosure in this regulatory announcement


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 nearly 50 licences  with eight licences West  of
Shetlands, six licences offshore the  Faroe Islands, two licences  in
the Moray Firth area  of the UK Central  North Sea, 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.

---END OF MESSAGE---


This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.