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02.01.2019 kl 19:44 5234

Faroe Petroleum plc

("Faroe Petroleum" or the "Company")

Quarterly notification of Directors' Interests and conditional award of shares

Graham Stewart (Chief Executive), Jonathan Cooper (Chief Financial Officer) and
Helge Hammer (Chief Operating Officer), have notified the Company that on 31
December 2018 they acquired the following ordinary shares of 10p each in the
Company ('Partnership Shares') and have been awarded the following conditional
shares ('Matching Shares') under the Faroe Petroleum Share Investment Plan (the
"SIP") at a price of £1.454 each:

Partnership Purchase Matching Purchase price
Shares price Shares
(no.) (no.)
Graham Stewart 258 £1.454 516 £1.454
Jonathan Cooper 258 £1.454 516 £1.454
Helge Hammer 253 £1.454 506 £1.454


The SIP is open to all employees on the same terms where, for every share
purchased by an employee the Company will match it with two matching shares.
The matching shares are released at the end of a three year holding period
(subject to the SIP rules) and the maximum amount that may be invested in
Partnership Shares in any tax year is £1,500 per employee. Graham Stewart,
Jonathan Cooper and Helge Hammer have committed to invest the maximum of
£1,500/year, with four scheduled quarterly investments of £375 each (noting that
Mr Hammer, being resident in Norway, has committed to the SIP in Norwegian Krona
and as such the Sterling investment varies slightly from quarter to quarter).

At present, market purchase shares are being used to satisfy the matching
shares.

Following this transaction the directors, and persons closely associated with
them, hold the following ordinary shares of 10 pence each in the Company,
together with options over the same (including matching shares) exercisable at
nil cost.

Name No of Ordinary Shares of 10p No. of options
each over ordinary shares of
10p each

Graham 2,491,043 5,374,078
Stewart*
Jonathan 657,792 3,028,395
Cooper**
Helge 1,322,010 3,296,636
Hammer***
John Bentley 172,270 -
Katherine - -
Roe
Roger Witts 109,180 -
Jorunn 28,571 -
Saetre
Brent 15,000 -
Cheshire




* shareholding includes 1,370 shares awarded following the vesting of SIP
matching shares between 01.10.18 and 31.12.18 with an equal and opposite
movement in the options total.

** shareholding includes 1,370 shares awarded following the vesting of SIP
matching shares between 01.10.18 and 31.12.18 with an equal and opposite
movement in the options total.

*** shareholding includes 1,238 shares awarded following the vesting of SIP
matching shares between 01.10.18 and 31.12.18 with an equal and opposite
movement in the options total.



- Ends -

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