ATP Announces Success at Shimshon Well in the Mediterranean Sea
July 02 2012 - 6:51AM
Business Wire
ATP Oil & Gas Corporation (NASDAQ: ATPG) and its
wholly-owned subsidiary ATP East Med B.V. (“ATP East Med”) today
announced success at the Shimshon well in the Levant Basin of
offshore Israel. The Shimshon well encountered more than 62 feet
(19 meters) of natural gas pay in the Bet Guvrin sands. The
Shimshon well is in a water depth of 3,622 feet (1,104 meters) and
was drilled to a subsea depth of 14,445 feet (4,403 meters). ATP
expects to provide additional information about the discovery
during the third quarter of 2012. ATP East Med operates with a 40%
working interest. Other interest owners in the well are Isramco
Negev 2 LP (39%), Naphtha Exploration Limited Partnership (10%),
INOC Dead Sea LP (10%) and I.O.C.-Israel (1%).
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, Mediterranean Sea 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 contain
"forward-looking statements" within the meaning of the “safe
harbor” provisions of the Private Securities Litigation Reform Act
of 1995, Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934. ATP cautions
that assumptions, expectations, projections, intentions, plans,
beliefs or similar expressions used to identify forward-looking
statements about future events may, and often do, vary from actual
results and the differences can be material from those expressed or
implied in such forward looking statements. Some of the key factors
which could cause actual results to vary from those ATP expects
include, without limitation, volatility in commodity prices for
crude oil and natural gas, the condition of the capital markets
generally, as well as ability to access them, the timing of planned
capital expenditures, uncertainties in estimating reserves and
forecasting production results, operational factors affecting the
commencement or maintenance of producing wells, and uncertainties
regarding environmental regulations or litigation and other legal
or regulatory developments affecting its business. ATP assumes no
obligation and expressly disclaims any duty to update the
information contained herein except as required by law. While ATP
does not file reports with the SEC containing probable and possible
reserve quantities, ATP occasionally will include them in news
releases, presentations and discuss such reserves publicly. ATP and
its independent third party reservoir engineers use the term
“probable” to describe volumes of reserves potentially recoverable
through additional drilling or recovery techniques that, by their
nature, are more speculative than estimates of proved reserves. Any
estimates of reserves in this news release have been prepared by
our independent third party engineers. More information about the
risks and uncertainties relating to ATP's forward-looking
statements is found in the company's SEC filings or website,
www.atpog.com.
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