Tórshavn, Faroe Islands 17th November 2008 - P/F Atlantic Petroleum (OMX: FO-ATLA) the international upstream oil and gas company, today announced that the suspension of market making on NASDAQ OMX Iceland has been lifted. P/F Atlantic Petroleum has been informed that the market maker, P/F Eik Banki has lifted the suspension of market making on NASDAQ OMX Iceland from today. From Monday 17th November 2008 it will be possible to trade P/F Atlantic Petroleum shares on NASDAQ OMX Iceland. Further Details Further details can be obtained from Wilhelm Petersen, Managing Director, tel +298 350 100 (wilhelmp@petroleum.fo) or Teitur Samuelsen, Financial Manager, tel +298 350 100 (teiturs@petroleum.fo). This announcement will be available, together with other information about Atlantic Petroleum, on the Company's website: www.petroleum.fo. P/F Atlantic Petroleum Issued 17-11-2008 Gongin 9 Telephone +298 350 100 P.O. Box 1228 Fax +298 350 101 FO-110 Tórshavn Website: www.petroleum.fo Faroe Islands