ATP Hits Paydirt at Bodbury Prospect in UK North Sea

ATP Oil & Gas Corp.

ATP has announced success from an exploratory well at its Wenlock field Block 49/12 North in the UK North Sea with the completion and testing of the W3z 'Bodbury' prospect from a previously untested fault block. The well was completed in the Leman sandstone at a depth of 15,437 feet MD and flow tested at a stabilized 59 MMscf/d at a flowing wellhead pressure of 2,800 psig. The maximum tested rate of this 3,000 foot horizontal well was restricted by separator limitations.

Located in 92 feet of water, W3z is the third well drilled from the Wenlock platform and should be placed on production later this month. The company's wholly-owned subsidiary, ATP Oil & Gas (UK) Limited, is the operator and owns a 20% working interest. The remaining 80% equity is held by EDF Production UK Limited.

Leland E. Tate, President of ATP, stated, "This demonstrates ATP's successful utilization of horizontal drilling technology and continuing expertise in expanding reserves from its existing reserve base. This new well will increase ATP's proved reserves."