Atlantic Petroleum P/F - Fyrirtækjafréttir

Orlando Field Development Plan approved

Tórshavn, Faroe Islands, 2013-04-17 09:32 CEST (GLOBE NEWSWIRE) -- Atlantic
Petroleum (OMX: FO-ATLA) today announces that the Department of Energy and
Climate Change ("DECC") has advised the Orlando joint venture partners that it
has approved the Orlando Field Development Plan ("FDP") submitted by the
partners. 



The Orlando Field is owned by Iona (Operator 75%) and Atlantic Petroleum
subsidiary, Volantis Exploration (25%). Further, DECC has approved Iona's
application for Production Operator status. 



The Orlando Oil field lies approximately 10 Km north east of the Ninian Central
Platform and was successfully appraised with well 3/3b-11 (1989) and 3/3b-13
(2012) with sidetrack wells. 



Ben Arabo, CEO, commented:

“This is a very important milestone for the Orlando project. We look forward to
continue working with the operator to deliver first production as early as
possible.” 



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. 19/2013

Issued 17-04-2013










         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