Atlantic Petroleum P/F - Fyrirtækjafréttir

April best producing month for Atlantic Petroleum since production commenced

Tórshavn, Faroe Islands, 6th May 2010 - P/F Atlantic Petroleum (OMX:
FO-ATLA) announces that April 2010 was the best producing month for Atlantic
Petroleum since The Company commenced production in 2008. 

During the month of April, Atlantic Petroleum produced a net total of 89,000
barrels of oil equivalents (boe) from the Chestnut and Ettrick fields. This
equates to an average of 2,967 boepd to The Company. 

April 2010 was the best month for production since the company started producing
oil in 2008. The excellent April performance is due to the stable performance
of both the Ettrick and Chestnut fields. 

In the first half of 2010, two additional production wells on the Ettrick field
have been drilled and are nearing completion, as planned. In addition to these
wells, the Blackbird appraisal well is expected to be spudded soon. 

To secure a more stable revenue stream The Company has, for the first time,
engaged in oil price hedging. Approximately 6 percent of the current production
has been hedged 12 months ahead. The average oil price hedged at is $88.4 per
barrel. 

Atlantic Petroleum will issue its 1st Quarter Interim Report 2010 on 19th May
2010. 

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. 


About Atlantic Petroleum
Atlantic Petroleum is a Faroese independent exploration and production (E&P)
company with oil and gas interests in the North Sea, Celtic Sea and on the
Faroese Continental Shelf. The objective of Atlantic Petroleum is to develop
offshore oil and gas potential in North West Europe, and presently the Company
engages in activities ranging from exploration, through appraisal, to
development and production. Atlantic Petroleum's shares are listed on both
NASDAQ OMX Iceland and NASDAQ OMX Copenhagen. 


Announcement no. 8/2010		                               Issued 06-05-2010


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