Atlantic Petroleum P/F - Fyrirtækjafréttir

Brugdan 2 update

Tórshavn, Faroe Islands, 2013-06-04 11:24 CEST (GLOBE NEWSWIRE) -- P/F Atlantic
Petroleum (OMX: FO-ATLA) today announces that the Faroes Licence 006 operator
Statoil and licence 006 partners Atlantic Petroleum and ExxonMobil are planning
to return to the Brugdan 2 location in the first half of 2014, where operations
were suspended late 2012. 

Atlantic Petroleum holds 1% equity in Faroes Licence 006. Statoil Færøyene AS
is the operator with 50% equity and ExxonMobil Exploration and Production Faroe
Islands Limited holds 49% equity in the licence. 

Ben Arabo, CEO, commented:

“We are very much looking forward to returning to the Brugdan 2 location in the
first half of 2014. The timing is good for AP, as the company is currently
drilling the potentially very high impact Dunquin well in Ireland, and we
expect to spud the UK Pegasus appraisal well later in 2013, followed by a
possible Perth appraisal well late 2013.” 



Further Details:

Further details can be obtained from Ben Arabo, CEO, tel +298 350100
(ben.arabo@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's e-mail
newsletter. 



Announcement no. 28/2013

Issued 04-06-2013


         P/F Atlantic Petroleum
         Yviri við Strond 4
         P.O. Box 1228
         FO-110 Tórshavn
         Faroe Islands
         Telephone +298 350 100
         Fax +298 350 101
         Website: www.petroleum.fo
         E-mail: petroleum@petroleum.fo