Atlantic Petroleum P/F - Company Announcement

Faroes operation update

Tórshavn, Faroe Islands, 2011-05-11 21:49 CEST (GLOBE NEWSWIRE) -- P/F Atlantic
Petroleum (OMX: FO-ATLA) today announces that the planning of the exploration
well on Faroes Licence 006 - Brugdan 2 is ongoing. According to the operator
the well will be spudded in the spring of 2012. The drilling of the Brugdan 2
well was previously planned to commence in the second half of 2011. 



Partners in Licence 006 are Statoil Faroes AS 50%, ExxonMobil Exploration &
Production Faroe Islands Limited 49% and Atlantic Petroleum 1%. 





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. 17/2011

Issued 11-05-2011


         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