ATI Oil Plc
LSE : ATIP

May 12, 2009 03:31 ET

Award of Permits Offshore Calabria ? Ionian Sea

                                                                                           12 May 2009
                                                                                                      
                                                                       ISIN: GB00B04BP253/GBP/PLUS-exn
                                                   
                                              ATI Oil Plc
                                             Martin House
                                             5 Martin Lane
                                                London
                                               EC4R 0DP
                                                   
                                       Tel: +44 (0)20 7469 2940
                                       Fax: +44 (0)20 7469 2901
                                        Email: info@ati-oil.com
                                       Website: www.ati-oil.com

                                              ATI Oil Plc
                                        ("ATI" or "the Company")
                                                   
                            Award of Permits Offshore Calabria - Ionian Sea
                                                   
ATI  is  pleased  to  advise  shareholders that Northern Petroleum Plc  announced  earlier  today  the
preliminary award of two permits offshore Calabria in which ATI has a beneficial interest.

The full text of the Northern release is as follows:

"Northern  Petroleum Plc announces that its wholly owned subsidiary, Northern Petroleum  (UK)  Limited
("Northern"),  has  been advised of the preliminary award of two offshore Italian permits,  d63F.R-.NP
and  d64F.R-.NP,  covering  a total of 1470 km². Northern has been invited  to  prepare  the  required
environmental impact study on which work will shortly commence.

The awards are adjacent to offshore preliminary award d59F.R-.NP, which is close to the gas fields  of
Luna, Hera Lacinia, Linda and Lavinia. These fields represent a significant portion of the Italian gas
reserves discovered to date. The applications cover the offshore extension of the Crotone and  Rossano
basins, where previous operators acquired high quality 3D seismic data.

Northern  holds  a  100% interest in the licences, but a subsidiary of ATI Oil Plc ("ATI"),  in  which
Northern  holds  a 37.04% equity interest, has a 50% pari passu commercial interest  in  the  licences
(giving a current net beneficial interest to Northern of 68.52%). ATI is currently the subject  of  an
Offer by Northern Petroleum Plc that was announced on 3 April 2009.

Graham Heard, Exploration & Technical Director, commented:
"We  are  delighted  to have received these two awards, which are adjacent to the  highly  prospective
d59F.R-.NP preliminary award, so quickly following our applications of last October."

Herein directors mean those of Northern Petroleum Plc.


The Directors of the Issuer accept responsibility for this announcement.
                                                   
                                                -Ends-
                                                   
Contact Details:

ATI Oil Plc
Derek Musgrove, Chairman
Per Gunnar Løge, Chief Executive
Chris Foss, Finance Director
Tel: 020 7469 2940

Keith, Bayley, Rogers and Co. Limited (Financial Adviser)
Hugh Oram / Priscilla Ross
Tel: 020 3100 8300

St.Helen's Capital Plc (Corporate Adviser)
Barry Hocken/Duncan Vasey
Tel: 020 7628 5582

Hansard Communications
Chris Roberts
Tel: 020 7245 1100

For further information on ATI's Italian assets please see our web site, www.ati-oil.com.

Contact Information

  • ATI Oil plc