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2012-10-23 15:00:20 CEST 2012-10-23 15:01:17 CEST REGULATED INFORMATION Atlantic Petroleum P/F - Company AnnouncementPolecat Well SpudTórshavn, Faroe Islands, 2012-10-23 15:00 CEST (GLOBE NEWSWIRE) -- Atlantic Petroleum (OMX: FO-ATLA) announces the spudding of the 20/4a-11 Polecat appraisal well on UK Licence P1100 in the Moray Firth. The well is being drilled with the Transocean GA III semi-submersible rig in a water depth of 369ft., near to the Ettrick and Blackbird producing fields that Atlantic Petroleum have interests in. The well will target Upper Jurassic reservoirs and is expected to take around 50 days to complete. The well is operated by Nexen who holds an 80% interest in the licence. Atlantic Petroleum has 20% interest resulting from a farm-in deal negotiated earlier in 2012. Ben Arabo, CEO, commented: “We are delighted to announce the spudding of the Polecat appraisal well, which is the fourth well in our on-going five well programme. The well further builds our position in the Moray Firth, which is already a core area for our UKCS activities, with Ettrick and Blackbird providing a large portion of our existing production.” 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. 28/2012 Issued 23-10-2012 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 |
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