LONDON, 19 November, 2010 – Panmure Gordon & Co., a leading independent institutional stockbroker and investment bank, is pleased to announce that it has acted as joint broker and Nominated Adviser to Faroe Petroleum plc on a conditional fundraising of £62.2m.

Group chief executive of Panmure Gordon, Tim Linacre, commented: “Panmure Gordon is delighted to have acted for its long-term client on this fundraising, which will help Faroe Petroleum take advantage of its recent successes and grow into the future.

“We are also pleased that Faroe has also been able to enter into a new strategic partnership with Scottish & Southern Energy, which will enable both companies to leverage respective resources and grow their upstream portfolios.”

Faroe Petroleum is an independent oil & gas company focusing principally on exploration and production opportunities in the Atlantic Margin, North Sea and Norway.