English Icelandic
Published: 2008-08-14 13:43:10 CEST
Atlantic Petroleum P/F
Company Announcement
Discovery made on Blackbird, by 20/2a-8 exploration well, in UK Licence P.317
Tórshavn, Faroe Islands 14th August 2008 - Atlantic Petroleum (OMX:
FO-ATLA)
the international upstream oil and gas company, announces that it has
made a
discovery on the Blackbird prospect, located on the UK North Sea Block
20/2a.
This discovery is six kilometres south of our Ettrick Field. The
well
encountered 111 feet of net pay in multiple zones, was drill-stem tested
and
flowed at an average restricted rate of 3,800 bopd through a 34/64 inch
choke. 
Analysis indicates high quality crude oil in good quality reservoir
sands. The
well has been suspended, for use as a production well, while work
is ongoing to
fast track development as a sub-sea tie back to the Ettrick
Field, given the
short distance to the Ettrick floating production, storage
and offloading
vessel. 

Partners in the licence are Nexen (operator)
79.73%, Bow Valley 12% and
Atlantic Petroleum 8.27%. 

Commenting on the
discovery, Wilhelm Petersen, Managing Director of P/F
Atlantic Petroleum said:


“The Blackbird discovery and the successful test are very good news
for
Atlantic Petroleum and its shareholders. We are looking forward to a fast
track
development given the short distance to the Ettrick FPSO plus the
partnerships
are the same in both the Ettrick Field and the Blackbird
discovery.” 




Further Details
Further details can be obtained from
Wilhelm Petersen, Managing Director, 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. 

                                                         
    

P/F Atlantic Petroleum	                                 Issued
14-08-2008
Gongin 9	
P.O. Box 1228	
FO-110 Tórshavn 
Faroe
Islands
Telephone +298 350 100
Fax +298 350 101
Website: www.petroleum.fo