Awarded licence in UK 25th Round Tórshavn, Faroe Islands 13th November 2008 - Atlantic Petroleum (OMX: FO-ATLA) the international upstream oil and gas company, today announces that the Company has been awarded Block 20/3f, a block adjacent to the recently announced Blackbird discovery, in the UK 25th Oil & Gas Licensing Round. The awards for the UK 25th Oil & Gas Licensing Round have been published today by the DECC (Department of Energy and Climate Change). Atlantic Petroleum, along with partners Nexen and Bow Valley, submitted an application prior to the closing date for the round, which was 22nd May 2008. The block lies adjacent to Licence P317 where the 20/2a-8 Blackbird well was recently suspended as a discovery. Partners in this awarded licence are Nexen (operator) 79.73%, Bow Valley 12% and Atlantic Petroleum 8.27%. This is the same partnership group as drilled the Blackbird discovery. Commenting on the announcement, Wilhelm Petersen, Managing Director of P/F Atlantic Petroleum said: “The Company is pleased to have been awarded this acreage in the 25th Round. The application was made prior to drilling the Blackbird well and making the discovery. Evaluation of the possible extension of the Blackbird structure into the awarded block is ongoing.” 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. Awarded licence in UK 25th Round Issued 13-11-2008 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
Awarded licence in UK 25th Round
| Source: P/F Atlantic Petroleum