Tórshavn, Faroe Islands 30rd January 2008 - P/F Atlantic Petroleum (OMX: FO-ATLA) the international upstream oil and gas company, today announced that KPMG LLP ("KPMG") has been appointed as auditors of the subsidiary company Atlantic Petroleum UK Limited. At the request of Atlantic Petroleum UK Limited, HLB Vantis Audit plc resigned as auditors of the subsidiary company. KPMG will perform the audit of the Company's annual financial statements for the year ending 31st December, 2007. Following the company's strategy to expand, Atlantic Petroleum UK Limited has increased its activities considerably during 2007 and production of oil will commence in 2008. Due to this increase in activity, it has been decided to appoint KPMG as auditors because of their experience and knowledge of the oil and gas industry. 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 30-01-2008 P/F Atlantic Petroleum Gongin 9 Telephone FO-110 Tórshavn P.O. Box 1228 Faroe Islands +298 350 100 Fax +298 350 101 Website: www.petroleum.fo
KPMG appointed as auditors for the subsidiary company Atlantic Petroleum UK Limited
| Source: Atlantic Petroleum P/F