Danish Business Authority.

Tórshavn, Faroe Islands, 2019-02-21 22:00GMT (GLOBE NEWSWIRE) -- P/F Atlantic Petroleum (NASDAQ OMX: ATLA DKK & Oslo Stock Exchange: ATLA NOK) announces that it has received a decision from the Danish Business Authority along with seven orders on disclosure of further information related to the annual report for 2017 and the report for Q1 2018. One of the orders requires the company to disclose further information on the prerequisites for the going concern-assumption.

The company is assessing and processing the decision from the Danish Business Authority based on previous announcement concerning future revenues and its position on utilising available liquidity to support growth. The company is considering whether or not to appeal the decision.

More information will follow when a decision is final and any processing necessary is finalised.

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 and offices in the UK and Norway. Atlantic Petroleum's existing shares are listed on NASDAQ OMX Copenhagen and on Oslo Stock Exchange.

Further Details:

Further details can be obtained from Graeme FAWCETT, CEO, tell +298 550100 (graemef@petroleum.fo). This announcement will be available, together with other information about Atlantic Petroleum, on the Company's website: www.petroleum.fo.

Announcement no.: 3/2019

Issued: 21-02-2019

P/F Atlantic Petroleum
Yviri vio Strond 4
P.O.Box 1228
FO-110 Torshavn
Faroe Islands

Telephone +44 203 397 6353

Website: www.petroleum.fo

E-mail: petroleum@petroleum.fo

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