Brief: Atlantic Petroleum announces review of strategic alternatives

Atlantic Petroleum P/F

03/08/2015 06:00

Aug 3 (Reuters) - Atlantic Petroleum P/F  ATLA.CO : 
    * As part of the strategic review Atlantic Petroleum will 
consider a full range of options in order to unlock the value 
underlying the Company's assets 
    * Options include a sale or merger of the Company 
    * Options include a sale, joint venture or partnership in 
respect of the Company's activities in the United Kingdom and/or 
Norway 
    * Options include continuing to execute on the Company's 
strategy as an independent company 
    * Based on its current portfolio and activities, including 
completion of Orlando field development in UK, Atlantic 
Petroleum is not financed for its planned activities in 2016 
    * In order to close such funding gap company will consider 
different ways of strengthening its financial position 
    * This includes raising new equity financing, new debt 
financing or asset sales or a combination of these measures  
 
Source text for Eikon:  ID:nCSE5WZK  
    
Further company coverage:  ATLA.CO  
 
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