Tórshavn, Faroe Islands, 2026-05-29 (GLOBE NEWSWIRE) -- P/F Atlantic Petroleum (NASDAQ Copenhagen: ATLA DKK) today posts its 1st quarter results for 2026. 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 Q1 2026:
G&A cost was DKK 0.4MM
Operating loss was DKK 0.4MM
Net loss was DKK 0.4MM
Net assets/share-holders equity was DKK -116.9MM
Bank debt was DKK 59.4MM
Mark T. Højgaard, CEO commented:
Following a lengthy process, Atlantic Petroleum signed a debt restructuring agreement with its main creditors on 30th April 2026. As a result of the completed restructuring, the Group's total debt has been reduced by at least DKK 90 million.
However, given the relatively short remaining lifespan of the Orlando field, it will be necessary to replace the existing production to support the Group's long term viability
The adjustments arising from the debt restructuring will be reflected in Atlantic Petroleum's Interim Report for the six months ending 30 June 2026.
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.: 7/2026
Issued: 29-05-2026
P/F Atlantic Petroleum
Lucas Debesargøta 8
P.O.Box 1228
FO-110 Torshavn
Faroe Islands
Website: www.petroleum.fo
