Operation update October 2010

Tórshavn, Faroe Islands, 2nd November 2010 - P/F Atlantic Petroleum
(OMX:FO-ATLA) announces that during the month of October, Atlantic Petroleum
produced a net total of 98,000 barrels of oil equivalents (boe) from the
Chestnut and Ettrick fields. This equates to an average daily production of
3,161 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. 28/2010		                  Issued 02-11-2010

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