Atlantic Petroleum P/F — Share Issue/Capital Change 2014

Jan 10, 2014

Exercise of Over-Allotment Right

Exercise of Over-Allotment Right

Tórshavn, Faroe Islands, 2014-01-10 22:23 CET (GLOBE NEWSWIRE) --

P/F Atlantic Petroleum ("Atlantic Petroleum" or the "Company", Oslo Børs ticker

symbol: ?ATLA? and NASDAQ OMX ticker symbol: ?FO-ATLA?) announces exercise of

the Over-Allotment Right. Reference is made to the stock exchange release

published on 12th December 2013 and the prospectus dated 26th November 2013

(the "Prospectus").The Board of Directors of Atlantic Petroleum P/F ("Atlantic

Petroleum" or the "Company") has today resolved to issue 21,157 new shares each

with a nominal value of DKK 100 at an issue price of DKK 123.8939 (calculated

as the equivalent DKK value of the offering price of NOK 140 per share) to

Carnegie AS and ABG Sundal Collier ASA (the "Joint Global Coordinators"),

following exercise of the Over-Allotment Right as further described in the

Prospectus and the stock exchange release of 12th December 2013.

The share capital increase amounts to nominal DKK 2,115,700, and the gross

proceeds amounts to DKK 2,621,221. Following registration of the share capital

increase in the Faroese Company Register, the Company will have 3,697,860

shares in issue each with a nominal value of DKK 100. The new shares are

expected to be registered in the Faroese Company Register on or about 13th

January 2014. The new shares will be tradable on Oslo Børs once the shares have

been registered in Verdipapirsentralen ASA (the "VPS"), and on OMX Nasdaq on or

about 15th January 2014.

About Atlantic Petroleum

Atlantic Petroleum is a full cycle exploration and production (E&P) Group

focused on North West Europe. Atlantic Petroleum currently holds 44 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

2015, 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 shares

are listed on NASDAQ OMX Copenhagen andIceland and on Oslo Børs. The Company

has applied for a delisting from NASDAQ OMX Iceland, which is expected to be

effective within the near future.

Disclaimers

The information contained herein shall not constitute an offer to sell or the

solicitation of an offer to buy, nor shall there be any sale of the securities

referred to herein in any jurisdiction in which such offer, solicitation or

sale would be unlawful prior to registration, exemption from registration or

qualification under the securities laws of any such jurisdiction and subject to

a prospectus being approved and made public. Investors must neither accept any

offer for, nor acquire, any securities to which this press release refers,

unless they do so on the basis of the information contained in the Prospectus

published by Atlantic Petroleum in connection with the Offering.

Copies of this press release are not being made and may not be distributed or

sent into the United States, Australia, Canada, Japan or any other jurisdiction

in which such distribution would be unlawful or would require registration or

other measures.

The securities referenced herein have not and will not be registered under the

U.S. Securities Act of 1933, as amended (the ?Securities Act?), and may not be

offered or sold in the United States absent registration or an exemption from

the registration requirements of the Securities Act. The Company does not

intend to register any part of the contemplated offering in the United States

or to conduct a public offering of securities in the United States.

Any offering of securities will be made by means of a prospectus made available

from the Company and that contains detailed information about Atlantic

Petroleum and its management, as well as financial statements. This document is

a press release and not a prospectus for the purposes of Directive 2003/71/EC

(together with any applicable implementing measures in any Member State, the

?Prospectus Directive?). Investors should not subscribe for any securities

referred to in this document except on the basis of information contained in a

prospectus.

In any EEA Member State other than Norway and Denmark that has implemented the

Prospectus Directive, this communication is only addressed to and is only

directed at qualified investors in that Member State within the meaning of the

Prospectus Directive, i.e., only to investors who will be able to receive the

contemplated offer without an approved prospectus in such EEA Member State.

This communication is directed only at (i) persons who are outside the United

Kingdom or (ii) persons who have professional experience in matters relating to

investments falling within Article 19(5) of the Financial Services and Markets

Act 2000 (Financial Promotion) Order 2005 (the "Order") and (iii) high net

worth entities, and other persons to whom it may lawfully be communicated,

falling within Article 49(2) of the Order (all such persons together being

referred to as "relevant persons").

Any investment activity to which this communication relates will only be

available to and will only be engaged with, relevant persons. Any person who is

not a relevant person should not act or rely on this press release or any of

its contents.

Stabilisation/FCA

The Joint Global Coordinators and the Stabilisation Manager and their

affiliates are acting exclusively for Atlantic Petroleum and no-one else in

connection with the Offering. They will not regard any other person as their

respective clients in relation to the contemplated Offering and will not be

responsible to anyone other than Atlantic Petroleum for providing the

protections afforded to their respective clients, nor for providing advice in

relation to the Offering, the contents of this communication or any

transaction, arrangement or other matter referred to herein.

In connection with the Offering, the Joint Global Coordinators and the

Stabilisation Manager and any of their affiliates, acting as investors for

their own accounts, may purchase shares and in that capacity may retain,

purchase, sell, offer to sell or otherwise deal for their own accounts in such

shares and other securities of Atlantic Petroleum or related investments in

connection with the Offering or otherwise. Accordingly, references in the

prospectus to the shares being offered, acquired, placed or otherwise dealt in

should be read as including any offer to, acquisition, placing or dealing by,

such Joint Global Coordinators and the Stabilisation Manager and any of their

affiliates acting as investors for their own accounts. The Joint Global

Coordinators and the Stabilisation Manager do not intend to disclose the extent

of any such investment or transactions otherwise than in accordance with any

legal or regulatory obligations to do so.

This press release contains forward-looking statements. Forward-looking

statements are statements that are not historical facts and may be identified

by words such as ?believe,? ?expect,? ?anticipate,? ?intends,? ?estimate,?

?will,? ?may,? "continue," ?should? and similar expressions. The

forward-looking statements in this release are based upon various assumptions,

many of which are based, in turn, upon further assumptions. Although Atlantic

Petroleum believes that these assumptions were reasonable when made, these

assumptions are inherently subject to significant known and unknown risks,

uncertainties, contingencies and other important factors which are difficult or

impossible to predict and are beyond its control. Such risks, uncertainties,

contingencies and other important factors could cause actual events to differ

materially from the expectations expressed or implied in this release by such

forward-looking statements.

The information, opinions and forward-looking statements contained in this

release speak only as at its date, and are subject to change without notice

Atlantic Petroleum disclaims any obligation to update and revise any

forward-looking statements, whether as a result of new information, future

events or otherwise.

Announcement no.03/2014

Issued 10-01-2014

P/F Atlantic Petroleum

Yviri við Strond 4, 3rd Floor

P.O. Box 1228

FO-110 Tórshavn

Faroe Islands

Telephone +298 350 100

Fax +298 350 101

Website: www.petroleum.fo

E-mail: petroleum@petroleum.fo