Atlantic Petroleum P/F - Company Announcement

Operation update July 2010

Tórshavn, Faroe Islands, 5th August 2010 - P/F Atlantic Petroleum (OMX:FO-ATLA)
announces that during the month of July, Atlantic Petroleum produced a net
total of 81,000 barrels of oil equivalents (boe) from the Chestnut and Ettrick
fields. This equates to an average daily production of 2,612 boe per day net to
the Company. 

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. 16/2010		                               Issued 05-08-2010


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