Tórshavn, Faroe Islands, 2026-08-31 (GLOBE NEWSWIRE) -- P/F Atlantic Petroleum (NASDAQ Copenhagen: ATLA DKK) today posts its 2nd 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 Q2 2026:
G&A cost was DKK 0.8MM
Operating loss was DKK 2.7MM
Net loss was DKK 2.9MM
Earnings per share DKK -0.78
Net assets/share-holders equity was DKK -119.6MM
Mark T. Højgaard, CEO commented:
The first half of 2026 was dominated by the finalisation of the debt restructuring agreement signed with our main creditors on 30 April. Once the outstanding payment to Betri Banki has been transferred, the Group's total debt will be reduced by DKK 98.3 million - a critical step in strengthening our financial position.
At the same time, the permanent loss of production from the Orlando field has required a material impairment of our Orlando-related assets, and underlines the need to secure new sources of production for the Group. Together, the completed restructuring and a strengthened balance sheet give us a firmer foundation from which to pursue 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 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.: 13/2026
Issued: 31-08-2026
P/F Atlantic Petroleum
Lucas Debesargøta 8
P.O.Box 1228
FO-110 Torshavn
Faroe Islands
Website: www.petroleum.fo
