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2011-07-05 12:55:56 CEST 2011-07-05 12:56:48 CEST REGULATED INFORMATION Atlantic Petroleum P/F - FyrirtækjafréttirOperation update June 2011Tórshavn, Faroe Islands, 2011-07-05 12:55 CEST (GLOBE NEWSWIRE) -- P/F Atlantic Petroleum (OMX: FO-ATLA) today announces that during the month of June, Atlantic Petroleum produced a net total of 71,000 barrels of oil equivalents (boe) from the Chestnut and Ettrick fields. The average daily production was 2,367 boe per day net to the Company. Chestnut is currently producing at a reduced rate due to water injection constraints. Options for reinstating water injection have been considered, and the drilling of a sidetrack to the existing water injector well and recompletion of the reservoir section is planned to commence in August. Atlantic Petroleum has previously announced a firm well commitment of 4 exploration wells over the next 18 months. The spudding of the first well on the Foxtrot prospect in Block 49/30b is expected to be in July or August. Atlantic Petroleum will participate with a 35% working interest and the licence is operated by Tullow Oil plc. 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. 28/2011 Issued 05-07-2011 P/F Atlantic Petroleum Gongin 9 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 |
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