Atlantic Petroleum P/F - Company Announcement

Operations update October 2013

Tórshavn, Faroe Islands, 2013-11-04 08:47 CET (GLOBE NEWSWIRE) -- P/F Atlantic
Petroleum (OMX: FO-ATLA) today announces that during the month of October,
Atlantic Petroleum produced a net total of 39,000 barrels of oil equivalents
(boe) from the Chestnut, Ettrick and Blackbird fields. The average daily
production was 1,258 boe per day net to the Group. 

The planned annual maintenance shut-downs continued into October as expected
and were completed during the month. Production is now re-started on the
Chestnut, Ettrick and Blackbird fields. 

The infill well 20/02a-E9 on the Ettrick field has been drilled and completed
with final tie-ins still to be completed. First oil from the infill well is
expected in early November and expected to add around 50% to the Ettrick
production in the near term. 





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. 



Atlantic Petroleum in brief

Atlantic Petroleum is a full cycle exploration and production (E&P) Group. The
asset portfolio spans the full-cycle E&P value chain of exploration, appraisal
and development through to production, and is located in some of the world's
most prolific hydrocarbon basins. Main focus is offshore North West Europe
where the Group can provide steady growth from the existing asset base and is
prepared to acquire new assets. Atlantic Petroleum has a total of 40 oil and
gas licences in the UK, Norway, Faroe Islands, Ireland and the Netherlands,
producing oil & gas from three fields in the UK part of the North Sea. Three
fields are under development or near development. Atlantic Petroleum
participates in joint ventures containing around 30 high quality partners. With
a strong operating cash flow the Group is well positioned for further growth.
Atlantic Petroleum's shares are listed on NASDAQ OMX Iceland and NASDAQ OMX
Copenhagen. 



Announcement no.40/2013

Issued 04-11-2013


         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