Issue of Equity and Total Voting Rights

22 December 2015

Faroe Petroleum plc

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

Issue of Equity and Total Voting Rights

Faroe Petroleum has applied to the London Stock Exchange for 167,706 new ordinary shares of 10 pence each (the "New Ordinary Shares") to be admitted to trading on AIM ("Admission") following the exercise of share options by former employees under the Faroe Petroleum Incentive Plan and Co-investment Plan.

It is expected that Admission will become effective on 29 December 2015. The New Ordinary Shares will, following allotment, rank pari passu in all respects with the existing issued ordinary shares of 10 pence each in the share capital of Faroe Petroleum.

Following Admission, the Company's issued share capital will be 268,235,273 ordinary shares of 10 pence each. The Company does not hold any ordinary shares in treasury. Therefore the total number of voting rights in the Company will be 268,235,273.

Shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.

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