Tórshavn, Faroe Islands, 2025-08-29 (GLOBE NEWSWIRE) -- P/F Atlantic Petroleum (NASDAQ Copenhagen: ATLA DKK) today posts its 2nd quarter results for 2025. This announcement should be read in conjunction with Atlantic Petroleum's Condensed Consolidated Interim Report, which is released separately and posted on the Company's website.
Highlights for Q2 2025:
G&A cost was DKK 0.4MM
Operating loss was DKK 3.2MM
Net loss was DKK 2.5MM
Net assets/share-holders equity was DKK -115.0MM
Bank debt was DKK 59.4MM
Mark T. Højgaard, CEO commented:
On 4 April 2025, Atlantic Petroleum reached an agreement with its main creditors to reduce the Company's debt by at least DKK 90MM. While the debt restructuring is not yet finalized, work toward completing the agreed framework is actively progressing. The Directors anticipate that the finalization will be in place during the 3rd Quarter of 2025.
The Group's ability to continue as a going concern remains dependent on the successful completion of the restructuring and the cash flows generated from its interest in the Orlando field.
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. 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.: 8/2025
Issued: 29-08-2025
P/F Atlantic Petroleum
Lucas Debesargøta 8
P.O.Box 1228
FO-110 Torshavn
Faroe Islands
Website: www.petroleum.fo
