The Group's Chairman John Bentley today announced at the AGM that, as a result of further dialogue with its larger shareholders, the Company intends to make a number of changes to the proposed Faroe Petroleum Exceptional Performance Incentive Plan ("EPIP") and consequently Resolution 7 has been withdrawn.The climb down is yet another feather in the cap of ShareSoc, the UK Individual Shareholders Society. We strongly recommend individual shareholders visit the ShareSoc site at http://www.sharesoc.org and join up

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