ATP Mobilizes Rowan Midland for Mississippi Canyon 711 Project

ATP Oil & Gas has mobilized the Rowan Midland for its Mississippi Canyon 711 (Gomez) project. The Rowan Midland will serve as the mobile production platform at Gomez. Production facilities are near completion and are ready for installation on the Rowan Midland at the Sabine Pass yard. Plans are to complete the offshore installation during the third quarter to achieve the previously announced goal of first production at Gomez in the fourth quarter 2005. ATP operates Gomez with a 100% working interest.

In December 2004, ATP tested the Mississippi Canyon #4 ST1 well with a total test rate of 13,610 BOPD and 52.7 MMcf/d or 134 MMcfe/d. The multiple day flow test recorded flowing tubing pressures exceeding 3500 psi with very little reservoir drawdown. The MC 711 #4 ST1 well logged approximately 157 total net feet of oil and gas pay in Lower Pliocene sands.

T. Paul Bulmahn, ATP's Chairman and President said, "Mobilizing the Rowan Midland was extremely critical for us to achieve our goal of first production at Gomez in the fourth quarter. The pipe lay at Gomez is currently underway and is approximately 50% complete. The drilling rig is on location to complete the first two wells and ready them for production. Now, with the Rowan Midland in hand, we are ready to complete the third and final phase of the project."

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