Tórshavn, Faroe Islands, 2014-03-14 09:34 CET (GLOBE NEWSWIRE) -- P/F Atlantic Petroleum (OMX: FO-ATLA CSE & Oslo Stock Exchange: ATLA) today announces its results for 2013. This company announcement should be read in conjunction with the Group’s Annual and Consolidated Report and Accounts 2013 and the extract from the independent reserves report also attached to this announcement.
FINANCIAL RESULTS & SIGNIFICANT ACHIEVEMENTS IN 2013
Ben Arabo, CEO, commented:
“We increased our reserves base through the completion of the acquisition of Orlando and Kells fields. We also increased our prospective resources base significantly through adding new high quality exploration acreage in Norway and the UK. Our exploration programme will deliver a steady flow of potentially large value triggers to our shareholders in 2014 and beyond. We have built up our portfolio over the past years and we can now see these prospects coming through to be drilled. We are confident that we can deliver exploration success over the next two years with the portfolio we have built whilst also maintaining our production base. We are always looking for opportunities to expand and will also do so in 2014 including looking at production opportunities.”
Atlantic Petroleum in brief:
Atlantic Petroleum is a full cycle exploration and production (E&P) Group focused on North West Europe. Atlantic Petroleum currently holds 41 oil and gas licences in the UK, Norway, Faroe Islands, Ireland and the Netherlands, and has three fields in production in the UK part of the North Sea. In addition to this, the Group has one field under development with first oil expected in 2016, two additional potential development projects and a substantial number of exploration prospects. Atlantic Petroleum participates in joint ventures with 30 reputable, international partners. Atlantic Petroleum’s main office is located in Tórshavn, Faroe Islands, and the Company has subsidiaries and technical offices in London, UK and Bergen, Norway. Atlantic Petroleum’s existing shares are listed on NASDAQ OMX Copenhagen and on Oslo Stock Exchange.
Further details can be obtained from Ben Arabo, CEO, tel +298 350100 (email@example.com). 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.
P/F Atlantic Petroleum
Yviri við Strond 4
P.O. Box 1228
Telephone +298 350 100
Fax +298 350 101
Atlantic Petroleum P/F
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