Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTERESTS IN SHARES 1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: Faroe Petroleum plc 2. Reason for the notification (please place an X inside the appropriate bracket/s): An acquisition or disposal of voting rights: (X) An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached: ( ) An event changing the breakdown of voting rights: ( ) Other (please specify): ( ) 3. Full name of person(s) subject to the notification obligation: AXA S.A. 4. Full name of shareholder(s) (if different from 3.): Name of Company/Fund Number % of shares of issued share capital AXA Framlington 250,000 0.34 Trustees for Roman Catholics (Indirect) AXA Framlington 360,000 0.49 Xerox Final Salary Pension Scheme (Indirect) AXA Framlington 195,000 0.26 Islington Group Pension Scheme (Indirect) AXA Framlington 150,000 0.20 London Scottish Pension Fund (Indirect) AXA Framlington 500,000 0.68 SEI UK Equity (Indirect) AXA Framlington 700,000 0.95 St James Place Exempt (Pens) Fund (Indirect) AXA Framlington 750,000 1.01 St James Place Net (Life) Fund (Indirect) AXA Framlington 190,000 0.26 St James Place Offshore Fund (Indirect) AXA Framlington 300,000 0.41 Daimler Chrysler (Indirect) AXA Framlington 2,000,000 2.70 Throgmorton Trust (Indirect) AXA Framlington 1,000,000 1.35 Managed Balanced (Indirect) AXA Framlington AXA Framlington 1,103,846 1.49 UK Smaller Companies (Indirect) AXA Framlington 140,000 0.19 BAE Systems Pensions Fund CIF Trustees (Indirect) AXA Framlington 61,350 0.08 BAE Systems 2000 Pensions Fund (Indirect) AXA Framlington 3,667,308 4.96 RW Portfolio (Indirect) EDF Energy Group 361,304 0.49 (Indirect) 5. Date of the transaction (and date on which the threshold is crossed or reached if different): 12 November 2007 6. Date on which issuer notified: 13 November 2007 7. Threshold(s) that is/are crossed or reached: 16% 8. Notified details: N/A A: Voting rights attached to shares Class/type of shares if Situation possible using the ISIN CODE previous to the Triggering transaction Number of shares Number of voting Rights Ordinary Shares 11,832,654 11,832,654 Resulting situation after the triggering transaction Class/type of Number of Number of voting rights % of voting rights shares if shares possible using the ISIN CODE Direct Direct Indirect Direct Indirect Ordinary Shares 0 0 11,728,808 0.00 15.87 B: Financial Instruments Resulting situation after the triggering transaction Type of Expiration Exercise/Conversion Number of voting % of financial Date Period/ Date rights that may be voting instrument acquired if the rights instrument is exercised/ converted. N/A N/A N/A N/A N/A Total (A+B) Number of voting rights % of voting rights 11,728,808 15.87 9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable : N/A Proxy Voting: 10. Name of the proxy holder: N/A 11. Number of voting rights proxy holder will cease to hold: N/A 12. Date on which proxy holder will cease to hold voting rights: N/A 13. Additional information: N/A 14. Contact name: Julian Riddick 15. Contact telephone number: 01224 652810 ---END OF MESSAGE---