ATP Advances GOM Hubs With Lease Sale

ATP Oil & Gas Corporation (NASDAQ:ATPG) today announced that it was the apparent high bidder on Atwater Valley Block 19, Atwater Valley Block 62 and Mississippi Canyon 304 offshore blocks upon which ATP bid at the Central Gulf of Mexico Offshore Lease Sale 206 held on March 19th in New Orleans. Atwater Valley Block 19 is located in approximately 4,199′ of water and Atwater Valley Block 62 is located in approximately 4,173′ feet of water, and both are in close proximity to ATP’s Telemark Hub. Mississippi Canyon Block 304 is located in approximately 6,793′ of water and is located near the ATP operated Canyon Express pipeline system. If ATP is awarded the blocks, the company will have a 100% working interest in each one and serve as operator.

ATP Vice President of Acquisitions George R. Morris stated, “If awarded, these blocks will further advance two of our core areas, the Canyon Express pipeline system and Telemark, where we are in the process of executing ongoing operational plans for the development of these deepwater hubs.”

About ATP Oil & Gas Corporation

ATP Oil & Gas is an international offshore oil and gas development and production company with operations in the Gulf of Mexico and the North Sea. The company trades publicly as ATPG on the NASDAQ Global Select Market. For more information about ATP Oil & Gas Corporation, visit www.atpog.com.

Forward-looking Statements

Certain statements included in this news release are “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. ATP cautions that assumptions, expectations, projections, intentions, or beliefs about future events may, and often do, vary from actual results and the differences can be material. Some of the key factors which could cause actual results to vary from those ATP expects include changes in natural gas and oil prices, the timing of planned capital expenditures, availability of acquisitions, uncertainties in estimating proved reserves and forecasting production results, operational factors affecting the commencement or maintenance of producing wells, the condition of the capital markets generally, as well as our ability to access them, and uncertainties regarding environmental regulations or litigation and other legal or regulatory developments affecting our business. More information about the risks and uncertainties relating to ATP’s forward-looking statements are found in our SEC filings.