P/F Atlantic Petroleum - Stabilisation and over-allotment notice

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P/F Atlantic Petroleum - Stabilisation and over-
allotment notice

Oslo, 12 December 2013 - Reference is made to stock
exchange announcement no. 53/2013 of 10 December
2013, in which P/F Atlantic Petroleum ("Atlantic
Petroleum" or the "Company") announced the successful
completion of the bookbuilding period for its public
offering, including the initial public offering on
the Oslo Stock Exchange (the "Offering").

Carnegie AS may, on behalf of the Joint Global
Coordinators for the Offering, engage in
stabilisation activities of the shares of Atlantic
Petroleum from today 12 December 2013 to and
including 10 January 2014 (the "Stabilisation
Period"). The stabilisation transactions are aimed to
support the market price of the shares of Atlantic
Petroleum.

In connection with the Offering, the Joint Global
Coordinators have over-allotted to the applicants in
the Offering 157,500 shares in the Company, which
equals approximately 15% of the number of shares sold
and issued in the Offering before over-allotments. In
order to permit the delivery in respect of over-
allotments made, the Stabilisation Manager has been
granted a right, on behalf of the Joint Global
Coordinators, to borrow a number of shares in the
Company equal to the number of shares over-allotted
from certain shareholders in the Company (the "
Lending Shareholders "). For further details on the
Offering, please refer to stock exchange announcement
no. 53/2013 of 10 December 2013 issued by Atlantic
Petroleum.

Further, the Stabilisation Manager, on behalf of the
Joint Global Coordinators, has been granted an over-
allotment right (the "Over-Allotment Right") by the
Company which entitles the Joint Global Coordinators,
at the request of the Stabilisation Manager, to
subscribe up to 157,500 shares in Atlantic Petroleum
at the Offer Price. The Over-Allotment Right may be
exercised at any time, in whole or in part, during
the Stabilisation Period, which commences on 12
December 2013 and ends on 10 January 2014. The
Stabilisation Manager may close out the short
position created by over-allotting shares by buying
shares in the open market through stabilisation
activities and/or by exercising the Over-Allotment
Right.

The Stabilisation Manager (or persons acting on
behalf of the Stabilisation Manager) may effect
transactions that stabilise or maintain the price of
the shares of Atlantic Petroleum at a level higher
than that which might otherwise prevail, by buying
shares in Atlantic Petroleum or associated
instruments in the open market at prices equal to or
lower than (but not above) the Offer Price. However,
there is no obligation on the Stabilisation Manager
(or any person acting on behalf of the Stabilisation
Manager) to do so. Moreover, there is no assurance
that the Stabilisation Manager (or persons acting on
behalf of the Stabilisation Manager) will undertake
stabilisation activities. If stabilisation activities
are undertaken they may be stopped at any time, and
must be brought to an end upon or before the expiry
of the Stabilisation Period. Any stabilisation
activities will only be undertaken on Oslo Børs.

Within one week after the end of the Stabilisation
Period, the Stabilisation Manager and the Company
will jointly publish a statement through the
information system of NASDAQ OMX Copenhagen and Oslo
Børs under the Company's ticker on Oslo Børs "ATLA"
and on NASDAQ OMX Copenhagen "FO-ATLA" with
information as to whether or not any stabilisation
activities have been undertaken, including the date
at which stabilisation started, the date at which
stabilisation last occurred, and the price range
within which stabilisation was carried out for each
of the dates during which stabilisation transactions
were carried out.

Any stabilisation activities will be conducted in
accordance with section 3-12 of the Norwegian
Securities Trading Act and Commission Regulation (EC)
No. 2273/2003 implementing Directive 2003/6/EC of the
European Parliament and of the Council as regards
exemptions for buy-back programmes and stabilisation
of financial instruments.

For further details see the prospectus dated 26
November 2013 issued by Atlantic Petroleum in
connection with the Offering and the listing of its
shares on the Oslo Børs.

For further queries, please contact:
Carnegie AS
+47 22 00 93 00

DISCLAIMER:
The information contained herein shall not constitute
an offer to sell or the solicitation of an offer to
buy, nor shall there be any sale of the securities
referred to herein in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior
to registration, exemption from registration or
qualification under the securities laws of any such
jurisdiction and subject to a prospectus being
approved and made public. Investors must neither
accept any offer for, nor acquire, any securities to
which this press release refers, unless they do so on
the basis of the information contained in the
prospectus published by Atlantic Petroleum in
connection with the Offering.

Copies of this press release are not being made and
may not be distributed or sent into the United
States, Australia, Canada, Japan or any other
jurisdiction in which such distribution would be
unlawful or would require registration or other
measures.

The securities referenced herein have not and will
not be registered under the U.S. Securities Act of
1933, as amended (the "Securities Act"), and may not
be offered or sold in the United States absent
registration or an exemption from the registration
requirements of the Securities Act. The Company does
not intend to register any part of the contemplated
offering in the United States or to conduct a public
offering of securities in the United States.

Any offering of securities will be made by means of a
prospectus that is available from the Company and
that will contain detailed information about Atlantic
Petroleum and its management, as well as financial
statements. This document is a press release and not
a prospectus for the purposes of Directive 2003/71/EC
(together with any applicable implementing measures
in any Member State, the "Prospectus Directive").
Investors should not subscribe for any securities
referred to in this document except on the basis of
information contained in a prospectus.

In any EEA Member State other than Norway and Denmark
that has implemented the Prospectus Directive, this
communication is only addressed to and is only
directed at qualified investors in that Member State
within the meaning of the Prospectus Directive, i.e.,
only to investors who will be able to receive the
contemplated offer without an approved prospectus in
such EEA Member State.

This communication is directed only at (i) persons
who are outside the United Kingdom or (ii) persons
who have professional experience in matters relating
to investments falling within Article 19(5) of the
Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005 (the "Order") and (iii) high
net worth entities, and other persons to whom it may
lawfully be communicated, falling within Article 49
(2) of the Order (all such persons together being
referred to as "relevant persons").

Any investment activity to which this communication
relates will only be available to and will only be
engaged with, relevant persons. Any person who is not
a relevant person should not act or rely on this
press release or any of its contents.

Stabilisation/FCA

The Joint Global Coordinators and the Stabilisation
Manager and their affiliates are acting exclusively
for Atlantic Petroleum and no-one else in connection
with the Offering. They will not regard any other
person as their respective clients in relation to the
contemplated Offering and will not be responsible to
anyone other than Atlantic Petroleum for providing
the protections afforded to their respective clients,
nor for providing advice in relation to the Offering,
the contents of this communication or any
transaction, arrangement or other matter referred to
herein.

In connection with the Offering, the Joint Global
Coordinators and the Stabilisation Manager and any of
their affiliates, acting as investors for their own
accounts, may purchase shares and in that capacity
may retain, purchase, sell, offer to sell or
otherwise deal for their own accounts in such shares
and other securities of Atlantic Petroleum or related
investments in connection with the Offering or
otherwise. Accordingly, references in the prospectus
to the shares being offered, acquired, placed or
otherwise dealt in should be read as including any
offer to, acquisition, placing or dealing by, such
Joint Global Coordinators and the Stabilisation
Manager and any of their affiliates acting as
investors for their own accounts. The Joint Global
Coordinators and the Stabilisation Manager do not
intend to disclose the extent of any such investment
or transactions otherwise than in accordance with any
legal or regulatory obligations to do so.

This press release contains forward-looking
statements. Forward-looking statements are statements
that are not historical facts and may be identified
by words such
as "believe," "expect," "anticipate," "intends," "esti
mate," "will," "may," "continue," "should" and
similar expressions. The forward-looking statements
in this release are based upon various assumptions,
many of which are based, in turn, upon further
assumptions. Although Atlantic Petroleum believes
that these assumptions were reasonable when made,
these assumptions are inherently subject to
significant known and unknown risks, uncertainties,
contingencies and other important factorswhich are
difficult or impossible to predict and are beyond its
control. Such risks, uncertainties, contingencies and
other important factors could cause actual events to
differ materially from the expectations expressed or
implied in this release by such forward-looking
statements.

The information, opinions and forward-looking
statements contained in this release speak only as at
its date, and are subject to change without notice
Atlantic Petroleum disclaims any obligation to update
and revise any forward-looking statements, whether as
a result of new information, future events or
otherwise.

This information is subject to disclosure
requirements pursuant to section 5-12 of the
Norwegian Securities Trading Act.