Operations update December 2014


Tórshavn, Faroe Islands, 2015-01-02 17:27 CET (GLOBE NEWSWIRE) -- Atlantic Petroleum (NASDAQ OMX COPENHAGEN: ATLA DKK & Oslo Stok Exchange: ATLA NOK) today announces that during the month of December, Atlantic Petroleum produced a net total of 56,000 barrels of oil equivalents (boe) from the Chestnut, Ettrick and Blackbird fields. The average daily production was 1,806 boe per day net to the Company. This is slightly higher than expected due to deferral of a work over on one of the production wells and high uptimes on all fields. Total production in 2014 was 587,000 boe or 1,608 boepd, which is above the announced production guidance of 1,520 to 1,600 boe.

 

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 around 37 oil and gas licences in the UK, Norway, and Ireland, 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:

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.

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Announcement no.1/2015

Issued 02-01-2015