ATP Oil & Gas Corp. (NASDAQ: ATPG).(Interview)

Publication: Oil and Gas Investor

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COPYRIGHT 2005 Hart Publications, Inc.

Oil and Gas Investor: Describe the strategy that drives your company.

Bulmahn: ATP focuses its efforts on offshore oil and natural gas properties where exploration companies have drilled and encountered reservoirs with hydrocarbons, but for various reasons the exploration company has decided it will be unable to develop the property. Many of these properties contain undeveloped reserves that are economically attractive to us, but are not strategic to the majors or the exploration-oriented independents. Our management team has extensive background in engineering, geology and geophysics, and also has technical and operational expertise in successfully developing and operating those properties.

OGI: Describe your core drilling and production areas.

Bulmahn: Approximately 66% of our proved reserves are in the Gulf of Mexico with the balance in the North Sea. In the Gulf of Mexico, we have leasehold and other interests in 59 offshore blocks, 26 platforms and approximately 70 wells, including five subsea wells. In the North Sea, we have properties in both the U.K. sector and the Dutch sector. We are the operator of all of these properties, including one company-operated subsea well in the U.K. sector. As of December 31, 2004, on a company-wide basis, we operate 99% of our properties based on the PV10 of our proved reserves.

OGI: Do you anticipate expanding into any new core areas?

Bulmahn: ATP is constantly evaluating where we...

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