Atlantic Petroleum P/F - Changes board/management/auditors

Atlantic Petroleum hires Technical Manager

Tórshavn, Faroe Islands 16th May 2008 - Atlantic Petroleum (OMX: FO-ATLA) the
international upstream oil and gas company, today announced that it has
employed Sigurð í Jákupsstovu as Technical Manager with responsibility for the
Company's production and exploration activities. Until the end of 2007, Sigurð
í Jákupsstovu was the Managing Director of Jarðfeingi, the Faroese Directorate
of Geology and Energy. Prior to this he was employed by Maersk Oil and Gas from
1994 to 1998 and by Atlantic Petroleum from 2001 to 2003. His educational
background is civil engineering and he has a Ph.D. in reservoir modelling. 

Commenting on the announcement, Mr Wilhelm Petersen, CEO said: 

” We are please to have Sigurð back at Atlantic Petroleum, as he will add
substantial technical knowledge to the Company, which will support us as we
commence production later this year and the Company accordingly enters a new
phase”. 


Further Details
Further details can be obtained from Wilhelm Petersen, Managing Director, tel
+298 350 100 (wilhelmp@petroleum.fo). This announcement will be available,
together with other information about Atlantic Petroleum, on the Company's
website: www.petroleum.fo. 


P/F Atlantic Petroleum	        Telephone +298 350 100       Issued 16-05-2008 
Gongin 9	                          Fax +298 350 101
P.O. Box 1228	                 Website: www.petroleum.fo
FO-110 Tórshavn 
Faroe Islands