West of Shetland Glenlivet discovery - side track appraisal well

2009-09-21 08:04:04 -
London, September, 21, 2009
21 September 2009

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

  West of Shetland Glenlivet discovery - side track appraisal well

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 that the drilling of a side track appraisal  well
has commenced to assess the Glenlivet West of Shetland gas  discovery
(Faroe 10%) announced last week.

The purpose of  the appraisal well  is to assist  in determining  the
potential reserves and  thereby the commerciality  of the  discovery.
 The results  of  the  appraisal  well are  expected  within  a  week
following which a further announcement will be made.

                              - Ends -

Enquiries

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

Panmure Gordon
Katherine Roe/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.

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