Atlantic Petroleum P/F - Company Announcement

Operation update June 2010

Tórshavn, Faroe Islands, 1st July 2010 - P/F Atlantic Petroleum (OMX:FO-ATLA)
announces that during the month of June, Atlantic Petroleum produced a net
total of 90,000 barrels of oil equivalents (boe) from the Chestnut and Ettrick
fields. This equates to an average daily production of 3,000 boe per day net to
the Company. 

The total production for the first 6 months of 2010 amounts to 419,000 boe.
This should be compared to the forecast given in February estimating a yearly
production between 725,000 and 850,000 boe. 

The Blackbird appraisal well is ongoing as planned and we expect the results to
be announced in July or August. 


Further Details:
Further details can be obtained from Sigurð í Jákupsstovu, CEO, tel +298 350
100 (sigurdj@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. 14/2010		                             Issued 01-07-2010


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