DGAP-Adhoc

NOK 300MM Credit Facility for Norwegian Exploration and Appraisal Activity

Atlantic Petroleum P/F

07.03.2013 12:16

Dissemination of a Adhoc News, transmitted by DGAP - a company of
EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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Torshavn, Faroe Islands, 2013-03-07 12:15 CET (GLOBE NEWSWIRE) --
Atlantic Petroleum (OMX: FO-ATLA) is pleased to announce that its fully owned
Norwegian subsidiary Atlantic Petroleum Norge AS has entered into a NOK 300MM
bank credit facility with DnB to finance the Company´s growth plans in Norway.

The 3 year facility is put in place to finance Atlantic Petroleum´s planned
Norwegian exploration and appraisal programme.

Under the terms of the credit facility, approx. 74% of all the Company´s
exploration, appraisal and supporting expenditure in Norway will be met by DnB,
thereby substantially increasing the Company´s capital available for investment
in Norway activity. The facility will be fully repaid by funds received from
the Norwegian Government under the 78% cash back regime in relation  to all
exploration and appraisal cost on the Norwegian Continental Shelf.

Ben Arabo, CEO, commented:
´The Exploration finance facility is an important step in Atlantic Petroleum´s
growth strategy for Norway. We look forward to extending our current Norwegian
asset base and building a high impact exploration and appraisal programme in
the time to come.´

Further Details:
Further details can be obtained from Ben Arabo, CEO, tel [phone]
([e-mail]). 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. 6/2013
Issued 07-03-2013

         P/F Atlantic Petroleum
         Yviri vidh Strond 4
         P.O. Box 1228
         FO-110 Torshavn
         Faroe Islands
         
         Telephone [phone]
         Fax [phone]
         Website: www.petroleum.fo
         E-mail: [e-mail]
News Source: NASDAQ OMX

07.03.2013 DGAP´s Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      Atlantic Petroleum P/F
              
               
              Iceland
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         FO000A0DN9X4
WKN:          

End of Announcement                             DGAP News-Service

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