ATP UK Offices Guildford, Surrey March 7, 2007 DRIVEN TO SUCCEED

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1 ATP UK Offices Guildford, Surrey March 7, 2007 DRIVEN TO SUCCEED T. T. Paul Paul Bulmahn, Bulmahn, Chief Chief Executive Executive Officer Officer Albert Albert L. L. Reese Reese Jr., Jr., Chief Chief Financial Financial Officer Officer The The ATP ATP UK UK Team Team

2 Agenda Introduction of the ATP UK Team An Overview of the UK North Sea ATP s Commitment to the UK North Sea ATP s UK North Sea Assets Wenlock Tors Cheviot.2

3 United Kingdom Continental Shelf (UKCS) Mature basin with extensive infrastructure Many pipelines with spare capacity especially in Southern Gas Basin Majors focusing on large assets and overseas opportunities Small discoveries not being taken forward DTI Fallow Initiative Small undeveloped discoveries are material to ATP Helvellyn, Tors, Wenlock Ownership of infrastructure gives opportunity for near field exploration and 3 rd party tie-in Wenlock near field exploration Tors possible 3 rd party tie-in.3

4 UK Gas Market 2006/7 Declining UKCS supply need for Imports Robust demand cleaner fuel, increasing use in power generation Very high prices in winter 2005/6 due to: Periods of cold weather especially November 2005 Supply/demand balance very tight Rough Storage Field problems Lower prices in winter 2006/7 due to: Exceptionally mild winter New Langeled line New Interconnector Increased LNG import capacity.4

5 UK Sources of Gas Supply UKCS production in decline. UK now net importer Europe Interconnector between: UK and Belgium UK and Netherlands Norway primarily via Langeled pipeline (from Troll and Ormen Lange) LNG Canvey Island, Excellerate and future expansion.5

6 UK Gas Market - Future Available supply now exceeds demand Maximum demand (cold winter day) about 450MCM Maximum supply (for short periods) about 550MCM Future prices will therefore depend on outside factors: European prices if Europe above UK, gas will flow to Europe US prices if US above UK/Europe, LNG will divert to US It is therefore likely that, over next 2-3 years, UK, Europe and US prices will converge as LNG tends more towards the marginal supply.6

7 ATP vs. UK Gas Market ATP s current phase of developments will lead to net production capacity of approx 100 mmscfd beginning Q Average gas price (February 2007 forward strip) over this period: Balance p Summer p Winter 2007/ p Summer p Winter 2008/ p ATP has hedges in place that protect against downside. For winter 2007/8 approx 50% of expected production sold at average 46p ATP has flexibility to sell forward and vary flow rates to take advantage of market changes 1 Hetco Advisory Services U.K.LTD as of 3/5/07 2 Chevron as of 2/22/07.7

8 ATP s Commitment to the North Sea Opened office in 2000 before many U.S. companies came to the North Sea Staffed offices in Guildford, Surrey, U.K. & Ijmuiden, Netherlands Since inception ATP has invested 233 million (1) in the North Sea 418 Bcfe of P1&P2 reserves in the North Sea (43% of Company total) ~100+ MMcfe/d production capacity scheduled by mid-'07 (1) $466 million.8

installed 2005 First Gas April 2006 Garrow platform installed July 2006 Helvellyn Field 50% ATP (Operator)

9 ATP UK Assets Cheviot (previously Emerald) ATP 100% New seismic acquired in 2004 Reservoir study 2005/6 Development study 2006/7 The Tors Development (Kilmar and Garrow) 85% ATP (Operator) Kilmar platform installed 2005 First Gas April 2006 Garrow platform installed July 2006 Helvellyn Field 50% ATP (Operator) In Production since February 2004 Wenlock Field 100% ATP Platform installed August 2006 First gas target Q

10 Helvellyn Field Discovered by BP in 1985 Discovery well flowed at 29mmscfd (equivalent to 5000bopd) 100% equity acquired from BP in % W.I. sold in 2002 First gas achieved in February 2004 Approximately 14bcf gas produced to date.10

11 Helvellyn Location Map 47/10 7zy 30miles from East coast of England.11

Helvellyn Development Well 47/10-7y Drilled with the Shelf Explorer in 2003 Well measured depth 13,244ft Geosteered in the reservoir 2,390 ft of Horizontal Section Tested at 60mmscfd Reservoir

12 Helvellyn Development Well 47/10-7y Drilled with the Shelf Explorer in 2003 Well measured depth 13,244ft Geosteered in the reservoir 2,390 ft of Horizontal Section Tested at 60mmscfd Reservoir Wellpath 47/10-7Y Reservoir Well Path Vector Offset (ft) " Liner shoe Rotliegend TVD RT (ft) TD 9290 Well path Faults Rotliegend Carboniferous.12

Tors Project Kilmar and Garrow Fields Kilmar acquired from BP in 2001 Garrow awarded in licensing round in 2002 Initially ATP 75%, GDF 25% Acquired GDF stake in 2005 and sold 15%

13 Tors Project Kilmar and Garrow Fields Kilmar acquired from BP in 2001 Garrow awarded in licensing round in 2002 Initially ATP 75%, GDF 25% Acquired GDF stake in 2005 and sold 15% equity also in 2005 Gross reserves estimated at 125bcf (107 net) First gas April 2006 Two Kilmar wells and Garrow well on stream Gas exported via pipeline to Perenco terminal at Bacton.13

14 The Tors Development The Tors Development (Kilmar 43/22 and Garrow 43/21) 85% ATP (Operator) First Gas April 2006 WENLOCK.14

15 Tors Development Outline 6 Slot NUI Trent Compression Platform Trent Platform 3 Slot NUI 12 22km Pipeline 8 23km Pipeline Kilmar Garrow.15

16 North Sea Tors (Kilmar & Garrow) Development Timeline Install Kilmar facilities & pipeline Spud Kilmar K1 well 1 st production Kilmar K1 & K2 Install Garrow facilities & pipeline 1 st production Garrow G1 well 1 additional Tors well planned Area of Operations 22 Km.16

17 Tors Project Infrastructure Garrow Platform Kilmar Platform with ENSCO 70 Rig Trent Production Platform with New Compression Platform (left).17

Kilmar & Garrow Wells Kilmar Carboniferous Reservoir Two, large, separate structures One well in each structure, both with successful test: 43/22-1: 19mmscfd 43/22-2: 33mmscfd Re-enter and sidetrack

18 Kilmar & Garrow Wells Kilmar Carboniferous Reservoir Two, large, separate structures One well in each structure, both with successful test: 43/22-1: 19mmscfd 43/22-2: 33mmscfd Re-enter and sidetrack two existing wells (K1 and K2) (2006) K1 is the first carboniferous multi-lateral Drill one new well (2007) Garrow Rotliegend Reservoir Two wells, both with successful DST s 43/21-2: 19mmscfd 43/21-4y: 17mmscfd One new horizontal well planned G1 well on production.18

19 Kilmar Field- Well Placement [< 1km >] K2 K1 K3.19

20 Wenlock Field Discovered by Conoco in 1985 Discovery well flowed at 75mmscfd 50% equity acquired from BP in % equity acquired from Conoco in

21 Wenlock Location Map Wenlock Wenlock Inde 35kms.21

22 Wenlock Infrastructure Host Platform Inde AC Platform Platform Installed September 06 Fabricated by SLP in Lowestoft Pipeline Installed Q4 06 Initially one well development.22

23 North Sea Wenlock Expansion Timeline Feb 26 ATP acquires 50% WI Dec 19 ATP acquires remaining 50% WI Aug 18 Field development plan approved 2Q07E First Production Dec 31 3rd Party P1 & P2 reserves 57 Bcfe net Dec ATP acquires 100% WI in 49/12b Phase 1 Initial Acquisition 49/12b 49/12aN 50% WI Phase 2 Acquire remaining 50% W.I. 49/12b 49/12aN 100% WI Phase 3 Northern Expansion 49/12b 100% WI 49/12aN 100% WI.23

Wenlock 49/12a Platform installed August 2006 Development well drilling First gas Q2 2007 49/12b Acquired

24 Wenlock 49/12a Platform installed August 2006 Development well drilling First gas Q /12b Acquired October 2006 Seismic reprocessing underway Potential second well on Wenlock and Longmynd exploration well in 2008/9.24

Field previously developed in 1992 and abandoned in 1996

25 Cheviot Project Awarded to ATP in licensing round in 2003 Out of round award in 2004 Redevelopment of proven oil and gas field Field previously developed in 1992 and abandoned in 1996 Significant remaining oil and gas reserves at 31 December, 2006 of 249 Bcfe.25

26 Cheviot Location Map.26

27 North Sea Cheviot Development Timeline ATP completes seismic & engineering programs Field Development Plan approval expected Facilities construction 1 st Production Area of Operations 2/10a 3/6 2/10b 2/15a 3/11a 3/11b 2/15b 3/11c 3/11d.27

28 Cheviot Plan New seismic data acquired in 2004 Detailed reservoir study in 2005/6 Field Development Plan currently being prepared: Concept is for a fixed platform in 500 of water Oil offloaded by tanker Gas exported via nearby pipeline system Up to 10 production wells and 2 water injection wells required First production target 2009/10.28

ATP Oil & Gas Corporation 4600 Post Oak Place, Suite 200 Houston, TX

London Square, Cross Lanes Guildford, Surrey GU1 1UJ United Kingdom 44

Water-Staete Gebouw Dokweg 31 (B) 1976 CA IJmuiden The Netherlands 31

29 ATP Oil & Gas Corporation 4600 Post Oak Place, Suite 200 Houston, TX ATP Oil & Gas (UK) Limited Victoria House, London Square, Cross Lanes Guildford, Surrey GU1 1UJ United Kingdom 44 (0) ATP Oil & Gas (Netherlands) B.V. Water-Staete Gebouw Dokweg 31 (B) 1976 CA IJmuiden The Netherlands 31 (0) ATP Oil & Gas Corporation NASDAQ: ATPG Courtesy Norsk Hydro ASA.29

30 Forward Looking Statement Investor Relations Al Reese, Jr. Chief Financial Officer Brian Nelson Director of Financial Analysis Isabel Plume Chief Communications Officer Sheila Thornton Communications Assistant Corporate Headquarters 4600 Post Oak Place, Suite 200 Houston, TX Telephone: (713) Fax: (713) NASDAQ - ATPG Certain statements included in this news release are forward-looking statements under the Private Securities Litigation Reform Act of ATP cautions that assumptions, expectations, projections, intentions, or beliefs about future events may, and often do, vary from actual results and the differences can be material. Some of the key factors which could cause actual results to vary from those ATP expects include changes in natural gas and oil prices, the timing of planned capital expenditures, availability of acquisitions, uncertainties in estimating proved reserves and forecasting production results, operational factors affecting the commencement or maintenance of producing wells, the condition of the capital markets generally, as well as our ability to access them, and uncertainties regarding environmental regulations or litigation and other legal or regulatory developments affecting our business. The SEC has generally permitted oil and gas companies, in filings made with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We and our independent third party reservoir engineers use the terms "probable" and possible and we use the term recoverable hydrocarbons to describe volumes of reserves potentially recoverable through additional drilling or recovery techniques that the SEC's guidelines may prohibit us from including in filings with the SEC. These estimates are by their nature more speculative than estimates of proved reserves. All estimates of probable and possible reserves in this news release have been prepared by our independent third party engineers and all estimates of recoverable hydrocarbons have been prepared by management. More information about the risks and uncertainties relating to ATP's forward-looking statements are found in our SEC filings..30

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