Tórshavn, Faroe Islands 21st April 2008 - Atlantic Petroleum (OMX: FO-ATLA) the international upstream oil and gas company, today announced that it has spudded the 20/2a-8 Blackbird exploration well on Licence P317. The well lies approximately 5km south of the Ettrick Field in a water depth of 371 feet and is being operated by Nexen Inc. The well will test an Upper Jurassic Ettrick sandstone target. The well will also test a deeper Upper Jurassic Buzzard aged sandstone target. The well is being drilled by the Glomar Arctic IV semisubmersible rig. The drilling operation, on a dry hole basis, is expected to take approximately two months. Partners in the licence are Nexen (operator) 79.73%, Bow Valley 12% and Atlantic Petroleum 8.27%. Commenting on the well, Wilhelm Petersen, Managing Director of P/F Atlantic Petroleum said: “Atlantic Petroleum is looking forward to drilling the Blackbird well, as the first of potentially three exploration wells in 2008. Success at this location should lead to a rapid development as a tie back to the Ettrick Field, which is due to come on stream in mid 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 21-04-2008 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 spuds Blackbird 20/2a-8 exploration well on UK Licence P317
| Source: Atlantic Petroleum P/F