Atlantic Petroleum P/F - Company Announcement

P/F Atlantic Petroleum – Registration of share capital increase

Tórshavn, Faroe Islands, 2014-01-13 11:46 CET (GLOBE NEWSWIRE) -- Reference is
made to the stock exchange notice of 10th January 2014 regarding the exercise
of the over-allotment right in connection with the initial public offering of
Atlantic Petroleum (OMX: “FO-ATLA”, OSE: “ATLA”) on Oslo Børs. 

Atlantic Petroleum is pleased to announce that the capital increase of 21,157
new shares with a nominal value of DKK 100 each and a subscription price of NOK
140 pursuant to the exercise of the over-allotment right has been registered
with the Faroese Company Registration authority. The issued share capital in
Atlantic Petroleum following the share issue is DKK 369,786,000 consisting of
3,697,860 fully paid shares, each with a nominal value of DKK 100. The new
shares are validly issued, fully paid up and non-assessable. 

The new shares will be admitted to trading and official listing on NASDAQ OMX
and Oslo Børs under the same ISIN code as the Company's existing shares.  First
day of trading is expected to commence on Oslo Børs as soon as the shares have
been registered in Verdipapirsentralen ASA ("VPS") and on NASDAQ OMX expectedly
on 15th January 2014. 



***

Important Notice:

The information contained herein shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of the securities
referred to herein in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration, exemption from registration or
qualification under the securities laws of any such jurisdiction and subject to
a prospectus being approved and made public. Investors must neither accept any
offer for, nor acquire, any securities to which this press release refers,
unless they do so on the basis of the information contained in the prospectus
published by Atlantic Petroleum in connection with the Offering. 

Copies of this press release are not being made and may not be distributed or
sent into the United States, Australia, Canada, Japan or any other jurisdiction
in which such distribution would be unlawful or would require registration or
other measures. 

The securities referenced herein have not and will not be registered under the
U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be
offered or sold in the United States absent registration or an exemption from
the registration requirements of the Securities Act. The Company does not
intend to register any part of the contemplated offering in the United States
or to conduct a public offering of securities in the United States. 

Any offering of securities will be made by means of a prospectus that is
available from the Company and that will contain detailed information about
Atlantic Petroleum and its management, as well as financial statements. This
document is a press release and not a prospectus for the purposes of Directive
2003/71/EC (together with any applicable implementing measures in any Member
State, the “Prospectus Directive”). Investors should not subscribe for any
securities referred to in this document except on the basis of information
contained in a prospectus. 

In any EEA Member State other than Norway and Denmark that has implemented the
Prospectus Directive, this communication is only addressed to and is only
directed at qualified investors in that Member State within the meaning of the
Prospectus Directive, i.e., only to investors who will be able to receive the
contemplated offer without an approved prospectus in such EEA Member State. 

This communication is directed only at (i) persons who are outside the United
Kingdom or (ii) persons who have professional experience in matters relating to
investments falling within Article 19(5) of the Financial Services and Markets
Act 2000 (Financial Promotion) Order 2005 (the "Order") and (iii) high net
worth entities, and other persons to whom it may lawfully be communicated,
falling within Article 49(2) of the Order (all such persons together being
referred to as "relevant persons"). 

Any investment activity to which this communication relates will only be
available to and will only be engaged with, relevant persons. Any person who is
not a relevant person should not act or rely on this press release or any of
its contents. 



Stabilisation/FCA

The Joint Global Coordinators and the Stabilisation Manager and their
affiliates are acting exclusively for Atlantic Petroleum and no-one else in
connection with the Offering. They will not regard any other person as their
respective clients in relation to the contemplated Offering and will not be
responsible to anyone other than Atlantic Petroleum for providing the
protections afforded to their respective clients, nor for providing advice in
relation to the Offering, the contents of this communication or any
transaction, arrangement or other matter referred to herein. 

In connection with the Offering, the Joint Global Coordinators and the
Stabilisation Manager and any of their affiliates, acting as investors for
their own accounts, may purchase shares and in that capacity may retain,
purchase, sell, offer to sell or otherwise deal for their own accounts in such
shares and other securities of Atlantic Petroleum or related investments in
connection with the Offering or otherwise. Accordingly, references in the
prospectus to the shares being offered, acquired, placed or otherwise dealt in
should be read as including any offer to, acquisition, placing or dealing by,
such Joint Global Coordinators and the Stabilisation Manager and any of their
affiliates acting as investors for their own accounts. The Joint Global
Coordinators and the Stabilisation Manager do not intend to disclose the extent
of any such investment or transactions otherwise than in accordance with any
legal or regulatory obligations to do so. 

This press release contains forward-looking statements. Forward-looking
statements are statements that are not historical facts and may be identified
by words such as “believe,” “expect,” “anticipate,” “intends,” “estimate,”
“will,” “may,” "continue," “should” and similar expressions. The
forward-looking statements in this release are based upon various assumptions,
many of which are based, in turn, upon further assumptions. Although Atlantic
Petroleum believes that these assumptions were reasonable when made, these
assumptions are inherently subject to significant known and unknown risks,
uncertainties, contingencies and other important factors which are difficult or
impossible to predict and are beyond its control. Such risks, uncertainties,
contingencies and other important factors could cause actual events to differ
materially from the expectations expressed or implied in this release by such
forward-looking statements. 

The information, opinions and forward-looking statements contained in this
release speak only as at its date, and are subject to change without notice
Atlantic Petroleum disclaims any obligation to update and revise any
forward-looking statements, whether as a result of new information, future
events or otherwise. 

This information is subject to disclosure requirements pursuant to section 5-12
of the Norwegian Securities Trading Act. 



About Atlantic Petroleum

Atlantic Petroleum is a full cycle exploration and production (E&P) Group
focused on North West Europe. Atlantic Petroleum currently holds 44 oil and gas
licences in the UK, Norway, Faroe Islands, Ireland and the Netherlands, and has
three fields in production in the UK part of the North Sea. In addition to
this, the Group has one field under development with first oil expected in
2015, two additional potential development projects and a substantial number of
exploration prospects. Atlantic Petroleum participates in joint ventures with
30 reputable, international partners. Atlantic Petroleum's main office is
located in Tórshavn, Faroe Islands, and the Company has subsidiaries and
technical offices in London, UK and Bergen, Norway. Atlantic Petroleum's shares
are listed on NASDAQ OMX Copenhagen and Iceland and on Oslo Børs. 



Announcement no.04/2014

Issued 13-01-2014


         P/F Atlantic Petroleum
         Yviri við Strond 4, 3rd Floor
         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