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