ATP Tests Positive in North Sea

ATP Oil & Gas Corporation announced the successful completion and testing of the Kilmar K3 well in Block 43/22a of the Southern Gas Basin of the U.K. North Sea.

The well tested at a restricted rate of 45 MMcf per day from Carboniferous sandstones below 11,000 feet MD and should soon expand production at the Tors field to 60-80 MMcfe per day, net. Located in 180 feet of water, K3 is the third well at Kilmar and the fourth well in the larger Tors development.

Further drilling is being evaluated for the possibility of 2-3 new wells to capture additional reserves currently not included in ATP's year-end 2006 reserve report. The company's wholly owned subsidiary, ATP Oil & Gas (U.K.) Limited, is the operator and owns an 85% working interest.

"With the additional production from the K3 well, ATP has become one of the top five independent natural gas producers in the U.K. Sector of the North Sea," T. Paul Bulmahn, ATP chairman and president said.