Tórshavn, Faroe Islands, 2026-04-30 (GLOBE NEWSWIRE) -- P/F Atlantic Petroleum (NASDAQ OMX: ATLA DKK) today announces its Annual Results for 2025. This company announcement should be read in conjunction with Atlantic Petroleum's Consolidated Annual Report
Highlights are:
- The result after taxation in 2025 was a net loss of DKK 3.8MM (2024: profit of DKK 1.4MM).
- The Group had a gross profit of DKK 0MM in 2025 (2024: Gross profit of DKK 0MM).
- Exploration expenses amounted to DKK 0.0MM in 2025 (2024: DKK 0.0MM).
- General and administration costs amounted to DKK 1.1MM in 2025 (2024: DKK 2.4MM).
- Loss before taxation was DKK 3.8MM in 2025 (2024: Loss of DKK 2.4MM).
- Total shareholders' equity amounted to DKK -116.4MM at the end of 2025 (2024: DKK -112.8MM).
- Net cash provided from operating activities amounted to DKK -1.4MM in 2025 (2024: DKK 0.4MM).
- Cash and cash equivalents totalled DKK 0.0MM at the end of 2025 (2024: DKK 0.0MM).
Mark T. Højgaard, CEO commented:
Given the limited cashflow for the Group, cost have been kept to a minimum. General and administration costs in 2025 was DKK 1.1MM compared to DKK 2.4MM in 2024.
The main focus has been to get a solution on the bank debt from Betri Banki and the convertible debt from London Oil and Gas in Administration.
The expectation is that the Orlando field will continue to produce at stable rates in 2026. The Orlando field is expected to reach the end of its production. Hence it will be necessary for the Group to replace the Orlando cash flow with another cash source.
The sole focus has been on the debt restructure, the Group is now able to start looking forward and to seek additional funding.
The ability of the Group to continue as a going concern is dependent on and the cash flows generated from the interest in the Orlando field and the ability to secure additional funding or alternative income sources following cessation of production from 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 has subsidiaries and offices 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.: 4/2026
Issued: 30-04-2026
P/F Atlantic Petroleum
Lucas Debesargøta 8
P.O.Box 1228
FO-110 Torshavn
Faroe Islands
Website: www.petroleum.fo
