Atlantic Petroleum – Condensed Consolidated Interim Report – 1st Quarter 2023

Tórshavn, Faroe Islands, 2023-05-31 (GLOBE NEWSWIRE) -- P/F Atlantic Petroleum (NASDAQ Copenhagen: ATLA DKK) today posts its 1^st quarter results for 2023. This announcement should be read in conjunction with Atlantic Petroleum’s Condensed Consolidated Interim Report, which is released separately and posted on the Company’s website..

Highlights for Q1 2023:

G&A cost was DKK 0.9MM
Operating loss was DKK 5.4MM
Net loss was DKK 6.1MM
Net assets/share-holders equity was DKK -104.0MM
Bank debt was DKK 59.4MM

Atlantic Petroleum in brief:

Atlantic Petroleum participates in oil and gas joint ventures with reputable, international partners. Atlantic Petroleum P/F is based in Tórshavn, Faroe Islands, and the Company currently has subsidiaries and offices in the UK. Atlantic Petroleum’s shares are listed on Nasdaq OMX Copenhagen.

Further Details:

Further details can be obtained from Mark T. Højgaard, (markh@petroleum.fo). This announcement will be available, together with other information about Atlantic Petroleum, on the Company's website: www.petroleum.fo.

Announcement no.: 5/2023

Issued: 31-05-2023

P/F Atlantic Petroleum
Lucas Debesargøta 8
P.O.Box 1228
FO-110 Torshavn
Faroe Islands

Website: www.petroleum.fo

Attachment

• 1Q 2023 Cond Cons Interim Report 31-03-2023