Faroe Names Witts Finance Director

Faroe Petroleum plc announced that Roger Witts has been appointed to the board of the Company effective Wednesday as Finance Director. The appointment will be subject to a shareholder resolution at the forthcoming Annual General Meeting.

Witts is a Chartered Accountant with over 30 years oil industry experience including as Finance Director of Fina Exploration Ltd, Thomson North Sea plc and Seafield Resources plc. Witts has considerable experience in financial disciplines including fund raising, strategic planning, risk management and financial reporting.

Graham Stewart, CEO of Faroe, said:

"We are very pleased to be welcoming Roger to the board; his wealth of experience and knowledge of North Sea and Atlantic Margin exploration and production will be invaluable to the future of the business.

"This is a very dynamic time for Faroe and it is appropriate that we now have the proper financial management in place as we move to exploit our assets and commence production."

The directorships and partnerships held by Witts, 60, now and over the five years preceding the date of appointment are as follows:

Current Directorships/Partnerships

--Dana Petroleum (Holdings) Limited
--Seafield Resources (Ghana) LLC
--Dana Petroleum (WA) LLC

Directorships in the past 5 years

--Dana Petroleum (Indonesia) LLC
--Dana Petroleum (Halmahera) LLC
--Dana Petroleum (Natuna) LLC

Faroe Petroleum plc is an independent oil and gas company focusing on exploration, appraisal and production in the Atlantic Margin, the North Sea, and Norway.