Successful Completion of Sale of Fenja Interest
17 May 2018 Faroe Petroleum plc ("Faroe", the "Company") Successful Completion of Sale of Fenja Field Interest Faroe Petroleum plc, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway and the UK, is pleased to announce the completion of the previously announced sale of its 17.5% working interest in the Fenja development located in PL586 in the Norwegian Sea such that Faroe retains a 7.5% working interest. The cash consideration received by Faroe for the sale of the Fenja interest is $68 million,