Atlantic Petroleum P/F - Lýsing/tilkynning um birtingu lýsingar

Atlantic Petroleum publishes prospectus

Not to be distributed in the US, Canada, Australia or Japan 

Tórshavn, Faroe Islands, 2nd October 2009 - P/F Atlantic Petroleum (OMX:
FO-ATLA) the international upstream oil and gas company, announces that with
reference to stock exchange announcement no. 26 Thursday 1st October 2009,
Atlantic Petroleum hereby publishes prospectus in connection with Rights Issue
to raise Gross Proceeds of up to DKK 188 million. 

The Offering comprises up to 1,500,973 new shares with a nominal value of DKK
100 each (the “Offer Shares”), offered at the ratio of 4:3, i.e. four new
shares for three existing. Four Pre-emptive Rights are allocated for each
existing share held, and for every 3 Pre-emptive Rights, the holder will be
entitled to subscribe for 1 Offer Share at a subscription price of DKK 125 per
Offer Share. 

The last day of trading of Existing Shares incl. Pre-emptive Rights will be
today, 2nd October 2009. 

Requests for copies of the prospectus containing detailed information about
Atlantic Petroleum and the complete terms and conditions of the Offering may be
addressed to: 

Handelsbanken Capital Markets 
Havneholmen 29 
DK-1561 Copenhagen V 
Denmark 
Tel: +45 3341 8200 

P/F Eik Banki 
Yviri við Strond 2 
100 Tórshavn 
Faroe Islands 
Tel: +298 348 000

The prospectus will also be available at the Company's registered office in
Tórshavn, Faroe Islands. Subject to certain exceptions, the prospectus can also
be downloaded from the Company's website: www.petroleum.fo. 


Further details can be obtained from Wilhelm Petersen, CEO, tel +298 350 100
(wilhelmp@petroleum.fo) or Teitur Samuelsen, Financial Manager, tel +298 350
100 (teiturs@petroleum.fo). This announcement will be available, together with
other information about Atlantic Petroleum, on the Company's website:
www.petroleum.fo. On the website, it is also possible to sign up for the
Company e-mail newsletter. 

Restrictions applicable to the Offering 
This announcement does not constitute an offer or an invitation to invest in
the Company. Subscription for shares should only take place based on the
published prospectus. 

Regardless of the above, Atlantic Petroleum expects that due to restrictions
under applicable law and rules, some or all investors residing in the United
States, Canada, Australia, Japan and other jurisdictions outside Faroe Islands,
Denmark and Iceland may not have the prospectus distributed to them and may not
be able to exercise their Pre-emptive Rights or subscribe for the Offer Shares.
The prospectus does not constitute an offer of or an invitation to purchase any
Pre-emptive Rights or subscribe for any Offer Shares in any jurisdiction in
which such offer or invitation would be unlawful. 

About Atlantic Petroleum 
Atlantic Petroleum is a Faroese independent exploration and production (E&P)
company with oil and gas interests in the North Sea, East Irish Sea and Celtic
Sea and on the Faroese Continental Shelf. The Company has interests in 15
licences containing around 30 fields, discoveries, prospects or leads.
Furthermore, Atlantic Petroleum has partnerships with 17 international oil
companies operating in North West Europe. The objective of Atlantic Petroleum
is to develop the offshore oil and gas potential in North West Europe on a
commercial basis, and presently the Company engages in activities ranging from
exploration, through appraisal, to development and production. Atlantic
Petroleum's shares are listed on both NASDAQ OMX Iceland and NASDAQ OMX 
Copenhagen.

Announcement  no. 27/2009		                                Issued 02-10-2009

P/F Atlantic Petroleum 		                            Telephone +298 350 100
Gongin 9		                                                    Fax +298 350 101
P.O. Box 1228		                                  Website: www.petroleum.fo
FO-110 Tórshavn 		                               Mail: petroleum@petroleum.fo
Faroe Islands

Attachments:

atlantic petroleum prospectus rights issue 2009.pdf