Tórshavn, Faroe Islands, 4th October 2010 - P/F Atlantic Petroleum (OMX:FO-ATLA) announces that during the month of September, Atlantic Petroleum produced a net total of 97,000 barrels of oil equivalents (boe) from the Chestnut and Ettrick fields. This equates to an average daily production of 3,233 boe per day net to the Company. Further Details: Further details can be obtained from Ben Arabo, CEO, tel +298 350100 (ben.arabo@petroleum.fo). 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. Announcement no. 24/2010 Issued 04-10-2010 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