Atlantic Petroleum spuds Blackbird 20/2a-8 exploration well on UK Licence P317

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