2009-08-15-2008-12-01

To buy 80% of Tors (68% WI), Wenlock (80% WI).

EDF Production U.K. Ltd., a subsidiary of EDF International of France, plans to acquire assets in the U.K. North Sea from ATP Oil & Gas Corp., Houston, (Nasdaq: ATPG) and subsidiary ATP Oil & Gas (UK) Ltd. for £265 million (approximately US$430 million). The deal involves 80% of ATP's interest in its Tors (68% working interest) and Wenlock (80% working interest) properties. In addition, EDF has an option to acquire the remaining ATP interests. Closing is expected by year-end. The effective date is July 1, 2008. ATP UK will remain operator of both Tors and Wenlock. ATP chairman and chief executive T. Paul Bulmahn says, "In June 2008 ATP launched its asset monetization program with Scotia Waterous. ATP will use these proceeds to reduce its debt, further its 2008 and 2009 development program and for other corporate purposes. This is testimony to the value created by the employees of ATP and in particular by the staff at ATP's UK office. We are pleased to have EDF as a partner in our North Sea production and development program." ATP operates in the Gulf of Mexico and the North Sea.