The Kilmar production is the first phase of the Company's development at Tors and is from the first well of at least four wells scheduled for Tors, which is located in 180 feet of water. As of December 31, 2005, ATP's published independent reserve reports estimated Tors at approximately 73 Bcfe net proved reserves and 42 Bcfe net probable reserves. When fully developed, ATP estimates Tors will add net production of approximately 50-75 MMcf/d to its current production levels.
T. Paul Bulmahn, Chairman and President of ATP, stated, "First production at Tors significantly contributes to ATP's near-term ramp in production. Also of significance is that it is in the North Sea where developments are usually marked in terms of years and ATP brought Tors to production in less than nine months from the issuance of the field development plan approval. I commend both our U.K. team and the involvement from our U.S. operations in achieving this accomplishment."
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