ATP Oil & Gas Corporation reports record reserves in all categories, an annual production increase of 26% and a reserve replacement ratio of 223%. Reserves and Production

ATP reported independent third-party year-end 2007 total proved plus probable reserves of 181.7 MMBoe with a pre-tax PV-10 value of approximately $5.3 billion. Proved reserves were 119.3 MMBoe, an increase of 13.1 MMBoe (+12%), with a pre-tax PV-10 value of approximately $3.5 billion. Equally important was the growth in proved developed reserves, increasing 5.7 MMBoe (+16 %) to 41.3 MMBoe. ATP's 181.7 MMBoe of proved and probable reserves are located 57% in the Gulf of Mexico Deepwater, 4% on the Gulf of Mexico Shelf and 39% in the North Sea.

ATP achieved a 223% reserve replacement ratio for 2007 with additions of 23.8 MMBoe to its proved reserves. Acquisitions resulted in 5.2 MMBoe, while revisions, extensions and discoveries to properties previously owned accounted for 18.6 MMBoe. ATP coupled these additions with record production of 10.7 MMBoe, including 8.6 MMBoe in the Gulf of Mexico and 2.0 MMBoe in the North Sea.

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