Tórshavn, Faroe Islands 25th July 2008 - Atlantic Petroleum (OMX: FO-ATLA) the international upstream oil and gas company, today announced that it has entered into an additional bridge loan facility amounting to DKK 100 million. The total bridge loan facilities entered into by the company now amount to a total of DKK 270 millions. The additional bridge loan facility will be used to finance Atlantic Petroleum's exploration and appraisal programme for 2008 in addition to further development drilling on the Chestnut and Ettrick Fields. This bridge loan facility shall be paid back at the end of 1st quarter 2009. The providers of the additional bridge loan facility are P/F Eik Banki and P/F Føroya Banki. Commenting on the additional bridge loan facility Wilhelm Petersen, Managing Director of P/F Atlantic Petroleum, said: "The additional bridge loan facility enables us to continue to follow our growth strategy. In addition to the bridge loan facility, Atlantic Petroleum as previously announced, will carry out a share capital increase in 2008." Further Details Further details can be obtained from Wilhelm Petersen, Managing Director, 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. Issued 25-07-2008 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
Atlantic Petroleum has entered into an additional Bridge Loan Facility
| Source: P/F Atlantic Petroleum