ATI Oil Plc
LSE : ATIP

May 22, 2009 11:38 ET

Recommended Offer for ATI Oil plc - Result of ATI Warrantholders' Meeting

                                                                                          22 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")
                                                   
               Recommended Offer for ATI Oil plc - Result of ATI Warrantholders' Meeting

Further  to the announcement released by Northern on 29 April 2009, the Independent ATI Directors  and
the  Independent  Northern Directors are pleased to announce that a meeting of ATI Warrantholders  was
held  at  10.00  am  this  morning, at which the Extraordinary Resolution was  proposed  to  seek  ATI
Warrantholders' consent (a) to the Capital Reduction and (b) to certain changes to the  terms  of  the
ATI Warrants.

The  Independent ATI Directors and the Independent Northern Directors are pleased to announce that  at
the meeting of ATI Warrantholders the Extraordinary Resolution was duly passed.

The results of the voting were as follows:

                          Number of ATI Warrants               Percentage  of ATI Shares  attributable
                                                               to  the ATI Warrants currently in issue
                                                               (approx) (per cent.)
                                                                                                      
In favour                      5,900,000                                   80.7
                                                                                  
Against                                0                                    0
                                                                            
Abstain                                0                                    0


The  Court Meeting of holders of ATI Shares will start at 11.00 am and the General Meeting of  holders
of  ATI  Shares will start at 11.15 am (or as soon thereafter as the preceding Court Meeting has  been
concluded or adjourned) on 28 May 2009 at Martin House, 5 Martin Lane, London, EC4R ODP.

Terms  and  expressions used in this announcement shall have the same meanings given to  them  in  the
announcements released by Northern on 3 April 2009 and 29 April 2009.

The Directors of the Issuer accept responsibility for this announcement.


For further information please contact:

ATI Oil plc                                                         Tel: +44 (0) 20 7469 2940
Per Gunnar Loge, Chief Executive Officer                        
                                                                                                
KBR (Financial adviser to ATI)                                      Tel: +44 (0) 20 3100 8300
Hugh Oram                                                       
                                                                
Northern Petroleum Plc                                              Tel: +44 (0) 20 7469 2900
Richard Latham, Chairman                                        
Graham Heard, Exploration & Technical Director                  
                                                                
Investec (NOMAD and Financial Adviser)                              Tel: +44 (0) 20 7597 5000
Michael Ansell / Patrick Robb / Avital Lobel                    
                                                                
                                                                
                                                                

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

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