Significant shareholding

22 May 2006 16:40

Faroe Petroleum PLC22 May 2006 Faroe Petroleum Plc ("Faroe Petroleum" or "the Company") Significant shareholding The Company was notified on 19 May 2006 that Mark H. Rachesky is interested in3,623,220 ordinary shares (4.92%), which are registered as follows: No. of Shares MHR Institutional Partners LP 2,155,814MHRM LP 229,347MHR Capital Partners (100) LP 145,877MHR Capital Partners Master Account LP 1,092,182 Total 3,623,220 This information is provided by RNS The company news service from the London Stock Exchange