ATP Continues Success With 2004 Development Program

ATP Oil & Gas reports the successful completion of its West Cameron 101 ("WC 101") #B-1/ST-1 well located in 43 feet of water. The B-1/ST-1 well encountered approximately 76 feet of net gas pay in the Miocene 54 and 55 sands 45 feet updip from ATP's original B-1 borehole.

The WC 101 prospect was acquired by ATP in 2001 and produced from 2003 to 2004 through the original B-1 well. As the reserves associated with the original well reached their end of life, ATP prepared a development plan to renter the original well and sidetrack to a proved undeveloped location at 13,000' TVD. Production will be achieved rapidly since the well was drilled from the platform at this location which was originally constructed by recycling and relocating an existing ATP platform from another location. ATP is the operator with a 75% working interest.

T. Paul Bulmahn, Chairman and President of ATP stated, "The well at West Cameron 101 will be the 12th successful well placed on production this year, enabling us to enjoy a material increase in our 2004 production over last year. ATP is pleased to have a multi-year cache of development projects with proved and as yet undeveloped reserves like West Cameron 101 in its inventory from which it projects a production increase also in 2005."