2009-08-15-2009-02-01-2009-02-01

Bought 80% in Tors, Wenlock properties in North Sea.

ATP Oil & Gas Corp., Houston, (Nasdaq: ATPG) and its subsidiary, ATP Oil & Gas (UK) Ltd., have sold 80% of two North Sea properties to EDF Production UK Ltd. for 265 million. The assets include 80% of ATP's interest in its Tors and Wenlock properties. EDF, a subsidiary of EDF International of France, also has an option to acquire the remaining interest. ATP will act as operator of Tors and Wenlock until EDF makes a decision on the remaining 20% interest. ATP chairman and chief executive officer T. Paul Bulmahn says, "Closing a deal of this magnitude in these markets is a great testimony to the long-term vision of both ATP and EDF. We are pleased to have EDF as a partner in our North Sea production and development program." ATP says it will use 75% of the net proceeds from the transaction to reduce its debt and the remaining proceeds for its 2008 and 2009 development program and for corporate purposes.