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2011-12-07 12:06:33 CET 2011-12-07 12:07:29 CET REGULATED INFORMATION Atlantic Petroleum P/F - FyrirtækjafréttirOperations update November 2011Tórshavn, Faroe Islands, 2011-12-07 12:06 CET (GLOBE NEWSWIRE) -- P/F Atlantic Petroleum (OMX: FO-ATLA) today announces that during the month of November, Atlantic Petroleum produced a net total of 57,000 barrels of oil equivalents (boe) from the Chestnut, Ettrick and Blackbird fields. The average daily production was 1,900 boe per day net to the Company. Average daily production for 2011 is expected to be in the range of 2,000 - 2,300 boepd. The Blackbird field was successfully brought on-stream in November ahead of schedule and within budget. The Chestnut field has been producing at reduced rates due to water injection constraints since early this year. Drilling of a side track to the existing water injector well to reinstate water injection and increase production levels was completed in November. Production from the Chestnut field was also affected by a shut down due to a planned five year inspection of the FPSO Sevan Hummingbird. The shut down affected 12 days in November. This obligatory shut down, which was originally planned for 2012, was pushed forward to 2011 and will avoid the obligation of this shut down in 2012 when production levels are expected to be fully optimised again. 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. 47/2011 Issued 07-12-2011 P/F Atlantic Petroleum Gongin 9 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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