Atlantic Petroleum P/F - Hluthafafundir

Summons for an Extraordinary General Meeting of P/F Atlantic Petroleum

An Extraordinary General Meeting of P/F Atlantic Petroleum is hereby called.
The meeting will be held at the premises of Hotel Føroyar, við Oyggjavegin 45,
100 Tórshavn, Faroe Islands 

on Friday the 3 of July 2009 at 19.00 local time.  

with the following agenda:

1.	Election of Chairman of the Meeting.

2.	Election of three new members of the Board of Directors.

The Board of Directors proposes to elect three new members of the Board of
Directors of the Company instead of Kjartan Hoydal, Óli Hammer and Petur Even
Djurhuus. Kjartan Hoydal has resigned as member of the Board of Directors and
Óli Hammer and Petur Even Djurhuus will resign on the general meeting. 

3.	Proposal to changes in the Articles of Association of the Company.

The Board of Directors proposes the following changes in the Articles of
Association of the Company: 

In § 16 third section in the Articles of Association of the Company to put the
wording: “management board consisting of one or several members” in stead of
the word “Managing Director” otherwise the clause shall remain unchanged and in
§ 19 first section in the Arti-cles of Association of the Company to put the
wording: “one Managing Director” in stead of the word “the Managing Director”,
otherwise the clause shall remain unchanged. 

- - - 0 - - -

To be adopted these proposals to change the Articles of Association of the
Company, ac-cording to clause 78 sub-clause 1 of the Public Companies Act,
needs that at least 2/3 of the votes cast as well as of the voting share
capital represented at the General Meeting assent thereto. 

- - - 0 - - -

Requisition of admission card and voting paper.

Requisition of admission cards and voting papers can be made on the homepage of
the Company www.petroleum.fo or at the office of the Company, Gongin 9, 100
Tórshavn, or on telephone no. +298  350 100 and/or fax no. +298 350 101.
Admission cards and voting papers should be required, at the latest, by Monday
the 29. June 2009 at 16.00. 

If you can not participate in the General Meeting you can in writing give a
proxy to a third person to represent you at the meeting. Proxy - forms to be
used for this purpose are available on the home-page of the Company
www.petroleum.fo and at the office of the Company Gongin 9, 100 Tórshavn. 

The agenda and the complete proposals, will be available for inspection at the
office of the com-pany Gongin 9, 100 Tórshavn, at the latest eight days before
the General Meeting. 

Share capital, voting rights and financial institute holding accounts on behalf
of the Company. 

The share capital of the Company is DKK 112.573.000 divided into shares of DKK
100 or multipla hereof. 

According to § 5 sub clause 1 of the Articles of Association of the Company,
each shareholder has one vote for each DKK 100 they hold in share capital. 

In § 2 sub-clause 2 of the Articles of Association of the Company, it is stated
that no shareholder can vote on behalf of more than 20% of the share capital of
the Company at the General Meeting. 

§ 11 of the Articles of Association of the Company has the following wording:
“Each shareholder can attend the General Meeting, provided the shareholder has
required an ad-mission card from the Company not later than 5 days prior to the
General Meeting. 

Right to vote at the General Meeting have shareholders, who have required an
admission card and a voting paper from the Company not later than 5 days prior
to the General Meeting. 

A shareholder can give another person written authority to attend the General
Meeting, and vote by proxy. 

The press can also attend the General Meeting”.

The Company has appointed Eik Banki P/F, as holder of accounts. Shareholders
can contact this fi-nancial institute at Yviri við Strond 2, 100 Tórshavn or on
the homepage www.eik.fo or on telephone number +298 348 000 to exercise their
financial rights in the company. 

P/F Atlantic Petroleum

The Board of Directors

Further details can be obtained from Wilhelm Petersen, CEO, tel +298 350 100
(wilhelmp@petroleum.fo) or Teitur Samuelsen, Financial Manager, tel +298 350
100 (teiturs@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 e-mail newsletter. 

Announcement no 14/2009 		Issued 18.06.2009, 

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