Announcement from P/F Atlantic Petroleum (FO-ATLA) Aoka Mizu FPSO vessel arrives at the Ettrick field location Tórshavn, Faroe Islands, 3rd June 2009 - P/F Atlantic Petroleum (OMX: FO-ATLA) the international upstream oil and gas company, announces that the Aoka Mizu FPSO vessel left Rotterdam on 31st May and sailed to the Ettrick field location. The vessel reached the field today at around 07.00 hours and will commence hook-up activities and final commissioning. First oil is predicted to start in one month. The Aoka Mizu Floating Production, Storage and Offloading vessel will be leased from Bluewater and is designed to handle up to 30,000 barrels per day oil and 35 MMscfpd of gas. Once production starts, net production to Atlantic Petroleum is expected to be at rates of around 1,650 boepd. Partners in the licence are Nexen (operator) 79.73%, Dana 12% and Atlantic Petroleum 8.27%. Wilhelm Petersen, CEO, commented: “We are proud to bring this message to our shareholders. It has taken time and effort by all involved to bring the Ettrick field to this stage. Atlantic Petroleum will soon have two fields on stream, which gives the company an excellent platform for further growth. Also there are a number of additional opportunities around Ettrick which may have significant impact on the future development of the area.” Further details can be obtained from Wilhelm Petersen, CEO, tel +298 350 100 (wilhelmp@petroleum.fo) or Teitur Samuelsen, Financial Manager, tel +298 350 100 (teiturs@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 e-mail newsletter. Announcement no 10/2009 Issued 03.06.2009 P/F Atlantic Petroleum Gongin 9 P.O.Box 1228 FO-110 Tórshavn Faroe Islands Telephone +298 350 100 Fax +298 350 101 petroleum@petroleum.fo www.petroleum.fo