Atlantic Petroleum P/F - Changes board/management/auditors

Change in the Board of Directors for the subsidiaries Atlantic Petroleum UK Limited and Atlantic Petroleum (Ireland) Limited

Tórshavn, Faroe Islands, 27th September 2009 - P/F Atlantic Petroleum (OMX:
FO-ATLA) the international upstream oil and gas company, announces that changes
have been made to the Board of Directors in the two subsidiary companies
Atlantic Petroleum UK Limited and Atlantic Petroleum (Ireland) Limited
following the changes made to the Board of Directors in P/F Atlantic Petroleum
in the Extraordinary General Meeting held on 3rd July 2009. 

Wilhelm Petersen and Richard Hardman will continue as directors of the Atlantic
Petroleum UK Limited board and Jan Edin Evensen, Sigurð í Jákupsstovu and
Teitur Samuelsen have been appointed as new directors of the board. 

The Board of Directors for Atlantic Petroleum (Ireland) Limited are Wilhelm
Petersen, who continues as director of the board, and Sigurð í Jákupsstovu and
Teitur Samuelsen who have been appointed as new directors of the board. 

Information about the new board members:
Jan Edin Evensen: Appointed board member of P/F Atlantic Petroleum 3rd July
2009. Chief Technical Officer & Chairman of the Board for Rock Energy AS. Mr.
Evensen holds a Cand. Real (M.Sc.) in Geology from the University of Oslo. For
further information see announcement 15/2009 issued 22nd June 2009. 

Sigurð í Jákupsstovu: Group Technical Manager and COO in Atlantic Petroleum. Mr
í Jákupsstovu holds an MSc in Mechanical Engineering and a PhD in reservoir
modelling from the Technical University of Denmark. Mr. í Jákupsstovu has
worked as a drilling and petroleum engineer with Maersk Oil and Gas from
1993-1998, as Technical Manager for Atlantic Petroleum between 2001-2003 and as
Director of Jarðfeingi (Faroese Earth and Energy Directorate) until 2008. 

Teitur Samuelsen: Group Financial Manager in Atlantic Petroleum. Mr. Samuelsen
holds a BA in Business Economics and an MSc in Business Economics & Auditing
from Copenhagen Business School. Prior to joining Atlantic Petroleum, Mr.
Samuelsen worked as a licence controller at DONG E&P A/S and as an auditor in
the Faroe Islands and in Denmark for a number of years. 

Announcement no 24/2009		                  Issued 27.09.2009

P/F Atlantic Petroleum                 	         Telephone +298 350 100
Gongin 9		                                    Fax +298 350 101
P.O.Box 1228 		                           petroleum@petroleum.fo 
FO-110 Tórshavn		                           www.petroleum.fo
Faroe Islands

This does not constitute an offer or an invitation to make an investment in P/F
Atlantic Petroleum. Potential investors are recommended to examine all relevant
risks and legal aspects, including in relation to taxation and currency
restrictions that may be of relevance regarding an investment in shares in P/F
Atlantic Petroleum.