ATP Announces Minimal Impact from Hurricane Ike

2008-09-16 23:49:03 -

- ATP Oil & Gas Corporation (NASDAQ: ATPG) today announced minimal impact from Hurricane Ike based on preliminary inspections of its production and drilling operations in the Gulf of Mexico. The ATP Innovator at ATP's Mississippi Canyon Block 711 "Gomez" Hub is on location and initial assessments found minimal damage. ATP is currently producing at Canyon Express and plans to

bring production back online at other locations as soon as the receiving stations and pipelines are operational. Drilling efforts are continuing at West Cameron 479 and Mississippi Canyon 941.

Prior to Ike's arrival, all ATP personnel were evacuated from producing platforms expected to be in the path of the storm. Various platforms, production facilities, pipelines and receiving stations operated by others which process and transport ATP production were similarly shut-in and evacuated. ATP will provide further updates as more information becomes available.

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 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 are "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. ATP cautions that assumptions, expectations, projections, intentions, or beliefs about future events may, and often do, vary from actual results and the differences can be material. Some of the key factors which could cause actual results to vary from those ATP expects include changes in natural gas and oil prices, the timing of planned capital expenditures, availability of acquisitions, uncertainties in estimating proved reserves and forecasting production results, operational factors affecting the commencement or maintenance of producing wells, the condition of the capital markets generally, as well as our ability to access them, and uncertainties regarding environmental regulations or litigation and other legal or regulatory developments affecting our business. More information about the risks and uncertainties relating to ATP's forward-looking statements are found in our SEC filings.

ATP Oil & Gas Corporation, Houston
Chairman and CEO
T. Paul Bulmahn, 713-622-3311
or
Chief Financial Officer
Albert L. Reese, Jr., 713-622-3311
www.atpog.com