Atlantic Petroleum announces new CEO


Tórshavn, Faroe Islands, 28th April 2010 - P/F Atlantic Petroleum (OMX:
FO-ATLA) announces that Ben Arabo will take up the position as CEO of Atlantic
Petroleum. 

Ben Arabo joins Atlantic Petroleum from a position as Exploration Business
Manager for Hess (NYSE: HES) in South East Asia. He is currently based in
Jakarta, Indonesia, where he is responsible for negotiations and business
management of Hess exploration ventures in South East Asia. During his career
at Hess Ben Arabo has been a management committee member for Hess in
exploration ventures in Asia, North Africa and North West Europe. He has been
with Hess since 1996 and was stationed as branch manager of Hess' activities on
the Faroe Islands during the period 1998 to 2006. Ben Arabo (36) holds a M.Sc.
(Economics and Business Administration) from the Aarhus School of Business,
Denmark, and is a Faroese national. Ben Arabo will start in his new position on
1st August 2010. 

Birgir Durhuus, Chairman of the Board of Directors: “I am delighted that Ben
Arabo has accepted the position as CEO of Atlantic Petroleum. He brings
significant experience from the global oil and gas industry. His knowledge will
be a valuable contribution to the exiting future operational and strategic
challenges facing Atlantic Petroleum which over the past two years has
transformed itself into an oil-producing Company.” 

“I am very pleased to join Atlantic Petroleum where I look forward to continue
building and growing the company together with the dedicated Atlantic Petroleum
team. The strong cash flow from current production and the company's technical
experience creates a good basis for maximising the value of the current acreage
portfolio and for expansion through license rounds and targeted acquisitions.
Value creation through portfolio growth will be the priority going forward”,
said Ben Arabo, coming CEO of Atlantic Petroleum. 


Further Details
Further details can be obtained from Birgir Durhuus, Chairman of the Board of
Directors, tel +45 25 42 43 37. This announcement will be available, together
with other information about Atlantic Petroleum, on the Company's website:
www.petroleum.fo. On the website, it is also possible to sign up for the
Company's e-mail newsletter. 


About Atlantic Petroleum
Atlantic Petroleum is a Faroese independent exploration and production (E&P)
company with oil and gas interests in the North Sea, East Irish Sea and Celtic
Sea and on the Faroese Continental Shelf. The Company has interests in 13
licences containing around 30 fields, discoveries, prospects or leads.
Furthermore, Atlantic Petroleum has partnerships with 18 international oil
companies operating in North West Europe. The objective of Atlantic Petroleum
is to develop offshore oil and gas potential in North West Europe on a
commercial basis, and presently the Company engages in activities ranging from
exploration, through appraisal, to development and production. Atlantic
Petroleum's shares are listed on both NASDAQ OMX Iceland and NASDAQ OMX
Copenhagen. 

Announcement no. 7/2010		                   Issued 28-04-2010


P/F Atlantic Petroleum 		                   Telephone +298 350 100
Gongin 9		                                     Fax +298 350 101
P.O. Box 1228		                            Website: www.petroleum.fo
FO-110 Tórshavn 		                            E-mail: petroleum@petroleum.fo
Faroe Islands