Atlantic Petroleum provides update on debt situation

Tórshavn, Faroe Islands, 2025-03-31 (GLOBE NEWSWIRE) -- P/F Atlantic Petroleum (NASDAQ OMX: ATLA DKK) provides update on debt situation.

Referring to the press release issued 30/12-2024 concerning debt negotiations, Atlantic Petroleum has not been able to come to an agreement with its main creditors.

Negotiations are in the final stages, but it is not certain that an acceptable solution will be achieved within the timeframe available. If no debt solution is achieved, the Group is unable to continue as a going concern.

A final update on debt will be issued by 4^th April, at the latest.

The annual accounts for 2024 will be postponed. Pending a debt solution over the next days, the annual accounts for 2024 will be released on the 30^th April.

Atlantic Petroleum in brief:

Atlantic Petroleum participates in oil and gas joint ventures with reputable, international partners. Atlantic Petroleum P/F is based in Tórshavn, Faroe Islands, and the Company currently has subsidiaries in the UK and Ireland. Atlantic Petroleum’s shares are listed on Nasdaq OMX Copenhagen.

Further Details:

Further details can be obtained from Mark T. Højgaard, (markh@petroleum.fo). This announcement will be available, together with other information about Atlantic Petroleum, on the Company's website: www.petroleum.fo.

Announcement no.: 1/2025

Issued: 31-03-2025

P/F Atlantic Petroleum
Lucas Debesargøta 8
P.O.Box 1228
FO-110 Torshavn
Faroe Islands

Website: www.petroleum.fo