Atlantic Petroleum is a Faroese independent exploration and production (E&P) company with oil and gas interests in the UK Continental Shelf and the Irish Continental Shelf. The Company has working interests in two licences containing three fields and a prospect. In addition, Atlantic holds economics interest in the Orlando field and the Pegasus area. Furthermore, Atlantic Petroleum has partnerships with more than 20 international oil companies operating in North West Europe. The objective of Atlantic Petroleum is to develop offshore oil and gas potential in North West Europe on a commercial basis, and presently the Company engages in activities ranging from exploration, through appraisal, to development and production.