ATP's Horizontal Well on Helvellyn Successful

ATP Oil & Gas Corporation has successfully tested its Helvellyn well located in the Southern Gas Basin of the North Sea. Utilizing an 1800' horizontal section drilled through the Rotliegend and Carboniferous sands, the flow test of the well reached sixty million cubic feet per day (60 MMCF/D), which was the maximum capability of the drilling rig production-testing equipment. Natural gas was initially discovered on this block in 1985 by British Petroleum with the successful drilling of the 47/10-1 well which, though it was not developed, was tested at a rate of 29.4 MMCF/D.

Final completion operations on the Helvellyn well are now underway in order to prepare the well for production, which will commence in 2003 once modifications are complete at the BP-operated Amethyst platform. The Field Development Plan for the Helvellyn Field in Block 47/10 was approved by the UK Department of Trade and Industry in July 2002. In August 2002, ATP Oil & Gas (UK) Ltd. (ATP UK), as the operator, laid the 15.5 kilometer pipeline from the well site to the host Amethyst A2D Platform.

ATP UK acquired the block in 2001 and is the operator with a 50% working interest. The remaining 50% working interest is held by First Oil Expro Limited.