ATP May Add to Deepwater Portfolio

ATP was high bidder on the DeSoto Canyon 355 and Viosca Knoll 863, offshore deepwater blocks at the GoM Lease Sale 205. De Sota Canyon 355 is located in 7,618' of water and is close to the Canyon Express pipeline system. Viosca Knoll 863 is located in 958' of water and has logged hydrocarbons in two wells. The bids are subject to approval by the MMS and if ATP is awarded the blocks, the company will gain a 100% working interest in each and serve as operator.

Commenting on the lease sale, ATP Senior Vice President Gerald W. Schlief stated, "This offshore lease sale was very competitive and robust. ATP was fortunate to be the apparent high bidder on two blocks. If awarded, these blocks will add to our outstanding inventory of opportunities."

ATP Oil & Gas is an international offshore oil and gas development and production company with operations in the Gulf of Mexico and the North Sea. The company trades publicly as ATPG on the NASDAQ Global Select Market.