Faroe Petroleum Plc Regulatory News (FPM)

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 tick the appropriate box or boxes)

An acquisition or disposal of voting rights 

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): We are no longer including in our aggregate notifiable holding the position held by Goldman, Sachs & Co., a wholly owned direct subsidiary of Goldman Sachs Group Inc, acting as custodian for its customers, because of the application of the custodian exemption in DTR 5.1.3R(2) to those positions.

X

3. Full name of person(s) subject to the notification obligation:

The Goldman Sachs Group, Inc.

4. Full name of shareholder(s) (if different from 3.):

Goldman, Sachs & Co.

5. Date of the transaction (and date on which the threshold is crossed or reached if different):

31 JULY 2008

6. Date on which issuer notified:

04 AUGUST 2008

7. Threshold(s) that is/are crossed or reached:

Below 3%

8. Notified details:

A: Voting rights attached to shares

Class/type of shares 

 if possible using the ISIN CODE

Situation previous to the Triggering transaction 

Resulting situation after the triggering transaction

Number of Shares 

Number of Voting Rights viii

Number of shares 

Number of voting rights ix

% of voting rights

Direct

Direct x

Indirect xi

Direct

Indirect

GB0033032904

3,623,220

3.46%

B: Financial Instruments

Resulting situation after the triggering transaction xii

Type of financial instrument 

Expiration date xiii

Exercise/ Conversion Period/ Date xiv 

Number of voting rights that may be acquired if the instrument is exercised/ converted. 

% of voting rights

Total (A+B)

Number of voting rights

% of voting rights

Below 3%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable xv:

We hereby notify you that as at close of business on 31 July 2008, The Goldman Sachs Group, Inc., of 85 Broad Street, New York, NY 10004, USA, no longer has a notifiable interest in shares.

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:

General email contact:

shareholderdisclosures@gs.com

14. Contact name:

Sean Rogers / Alan Cox

15. Contact telephone number:

0207-552-9205 / 0207-774 -8774