Atlantic Petroleum – Update on Debt

Tórshavn, Faroe Islands, 2026-08-31 (GLOBE NEWSWIRE) -- Today P/F Atlantic Petroleum (NASDAQ OMX: ATLA DKK) provides an update on the debt situation.

Referring to the press release issued 30 April 2026 concerning the signing of the debt settlement, and the press release issued 6 August 2026 concerning cessation of Orlando production, Atlantic Petroleum provides an update on the debt settlement.

The loss of Orlando production has affected the Company's projected cash flows and has impacted the final completion of the debt restructuring agreement reached with the main creditors.

Although the agreement has been signed, the agreed payment to Betri Banki has not yet been transferred. Management is in contact with relevant stakeholders and expects the outstanding payment and associated transactions to be completed.

When the final payment to Betri Banki has been transferred, the total debt will be reduced by DKK 98.3 million.

The restructuring is an important component of strengthening the Company's financial position and creating a foundation for future activities.

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.12/2026

Issued 31-08-2026

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

Website: www.petroleum.fo