ATP Says Work at Gomez Prospect Still on Schedule

Gomez, Mississippi Canyon OCS
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ATP has restored production at all but seven of its Gulf of Mexico properties impacted by Hurricane Katrina bringing current production to greater than 80% of pre-hurricane levels. ATP expects to restore the remaining production during the rest of the third and fourth quarter of 2005. As a result of Hurricane Katrina, ATP estimates it will defer approximately one Bcfe of production from the third quarter to future periods.

Regarding development operations, progress on ATP's Mississippi Canyon 711 (MC 711) is proceeding with a minimal delay as a result of the hurricane. The Diamond Offshore Drilling, Inc. (Diamond) semi submersible drilling rig Ocean Voyager is undergoing repairs which are scheduled for four to eight weeks according to Diamond reports after which it is scheduled to return to ATP's MC 711 development. The pipeline for MC 711 is approximately 90% complete with the Intrepid pipeline vessel on site. Modifications to the Rowan Midland, the production facility, are underway with module installation in progress. Based on current development operations, ATP expects it can still deliver first production at MC 711, ATP's largest property in terms of proved reserves, late in the 4th quarter of 2005. As additional information is gained during this development operation, ATP will report its progress in bringing this project to production.

In the North Sea, development operations are proceeding on schedule. At L-06d in the Netherlands, the pipeline is complete and the well has been perforated, completed and tested at 53 MMcf/d. The host platform has been installed with hook-up underway. First production is projected before year- end 2005.

At Tors in the UK Sector, the Kilmar platform (jacket and deck) has been installed and both pipelines have been laid. The Ensco 70 rig is under contract and is expected to be on location within days to begin drilling the first of three wells at the Kilmar location at Tors. First production is scheduled for early 2006 with the continuing possibility of production before year-end 2005.

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