Faroe Petroleum Plc Regulatory News (FPM)

30 May 2007 07:01

Faroe Petroleum PLC30 May 2007 30 May 2007 Faroe Petroleum plc ("Faroe Petroleum", or "Faroe") Directorate Change Faroe Petroleum, the independent oil and gas company focusing on exploration,appraisal and production in the Atlantic Margin, the North Sea and Norway, ispleased to announce that Mr Roger Witts has been appointed to the board of theCompany effective today as Finance Director, and this appointment will besubject to a shareholder resolution at the forthcoming Annual General Meeting. Mr Witts is a Chartered Accountant with over 30 years oil industry experienceincluding as Finance Director of Fina Exploration Ltd, Thomson North Sea plc andSeafield Resources plc. Mr Witts has considerable experience in financialdisciplines including fund raising, strategic planning, risk management andfinancial reporting. Graham Stewart, CEO of Faroe, said: "We are very pleased to be welcoming Roger to the board; his wealth ofexperience and knowledge of North Sea and Atlantic Margin exploration andproduction will be invaluable to the future of the business. "This is a very dynamic time for Faroe and it is appropriate that we now havethe proper financial management in place as we move to exploit our assets andcommence production." The directorships and partnerships held by Roger Charles Witts (aged 60) now andover the five years preceding the date of appointment are as follows: Current Directorships/Partnerships Dana Petroleum (Holdings) LimitedSeafield Resources (Ghana) LLCDana Petroleum (WA) LLC Directorships in the past 5 years Dana Petroleum (Indonesia) LLCDana Petroleum (Halmahera) LLCDana Petroleum (Natuna) LLC As at the date of this announcement, Mr Witts has no interests in the capital ofthe Company. There are no other matters to be announced as required under paragraph (g) ofSchedule 2 of the AIM Rules. - Ends - Enquiries: Faroe Petroleum plcGraham StewartTel: 01224 652 810gstewart@faroe-petroleum.com Financial DynamicsBilly CleggTel: 0207 269 7157billy.clegg@fd.com This information is provided by RNS The company news service from the London Stock Exchange