ATP Oil & Gas Reports Record Proved Reserves

ATP Oil & Gas recently announced that it achieved a record reserve replacement ratio last year.

According to the company, its ratio at December 31, 2005, was 1,367 percent. The company's year-end natural gas and oil proved reserves were 527.5 Bcfe (67 percent natural gas) with a pre-tax PV-10 of $2.7 billion, compared to 275.2 Bcfe and a $733 million pre-tax PV-10 at year-end 2004. Proved developed reserves more than doubled (up 112 percent) to a record 128.4 Bcfe during 2005. At December 31, 2005, proved and probable reserves were 758.3 Bcfe (68 percent natural gas) with a pre-tax PV-10 of $4.2 billion.

ATP's 2005 proved and probable reserve reports were prepared by independent third-party reservoir engineers. The reports follow.


Proved Reserves
Prepared by independent reservoir engineers
December 31, 2005
                         Gulf of Mexico     North Sea    Consolidated
                        ----------------- -------------- -------------
Proved
(MMcfe)
 Developed                     114,379.5       13,989.2     128,368.8

 Undeveloped                   117,650.3      281,476.0     399,126.3
                        ----------------- -------------- -------------
 Total                         232,029.8      295,465.2     527,495.1
                        ================= ============== =============

Pre-tax PV-10
($'s in millions)
 Developed                        $784.8          $82.6        $867.4
 Undeveloped                      $607.7       $1,209.2      $1,817.0
                        ----------------- -------------- -------------
 Total                          $1,392.5       $1,291.8      $2,684.3
                        ================= ============== =============



Proved & Probable Reserves
Prepared by independent reservoir engineers
December 31, 2005
                         Gulf of Mexico     North Sea    Consolidated
                        ----------------- -------------- -------------
Proved & Probable
(MMcfe)
 Developed                     155,532.6       22,298.5     177,831.1
 Undeveloped                   178,728.8      401,693.0     580,421.8
                        ----------------- -------------- -------------
 Total                         334,261.5      423,991.5     758,252.9
                        ================= ============== =============

Pre-tax PV-10
($'s in millions)
 Developed                      $1,039.8         $116.9      $1,156.7
 Undeveloped                      $956.9       $1,989.0      $2,945.9
                        ----------------- -------------- -------------
 Total                          $1,996.7       $2,105.9      $4,102.6
                        ================= ============== =============


Top 5 Properties
(Based on Proved & Probable Reserves)
Prepared by independent reservoir engineers
December 31, 2005
                     Cheviot     MC 711     Tors     King's    Venture
                                                       Peak
                   ---------- ---------- ---------- --------- --------
Reserves           North Sea   Gulf of   North Sea  Gulf of    North
                                Mexico                Mexico     Sea
                   ---------- ---------- ---------- --------- --------
(Bcfe)
 Proved                182.3       93.1       72.9      55.7     26.3
 Probable               47.2       47.2       42.2      26.4     30.8
                   ---------- ---------- ---------- --------- --------
 Total                 229.5      140.3      115.1      82.1     57.2
                   ========== ========== ========== ========= ========

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