Atlantic Petroleum P/F - Company Announcement

Operation update May 2010

Tórshavn, Faroe Islands, 4th June 2010 - P/F Atlantic Petroleum (OMX:FO-ATLA)
announces that during the month of May, Atlantic Petroleum produced a net total
of 66,000 barrels of oil equivalents from the Chestnut and Ettrick fields. This
equates to an average daily production of 2,130 barrels net to The Company. 

In May production has been lower than the previous month due to operational
constraints in relation to drilling and planned maintenance. 

The Blackbird appraisal well was recently spudded and operations are expected
to be ongoing for approximately 2 months. 


Further Details:
Further details can be obtained from Sigurð í Jákupsstovu, CEO, tel +298 350
100 (sigurdj@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. 13/2010		                         Issued 04-06-2010


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 		                        E-mail: petroleum@petroleum.fo
Faroe Islands