ATP Oil

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ATP Oil Gas Corporation
ATP Oil Gas Friedland Capitals Oil, Gas, and
Energy Luncheon London January 16, 2003
NASDAQ ATPG
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Forward-looking Statement
Oil Gas Corporation
This presentation contains projections and other
forward looking statements within the meaning of
Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of
1934. These projections and statements reflect
the Companys current view with respect to future
events and financial performance. No assurances
can be given, however, that these events will
occur or that these projections will be achieved,
and actual results could differ materially from
those projected as a result of certain factors.
A discussion of these factors is included in the
Company documents filed with the Securities and
Exchange Commission. This presentation does not
constitute an offer to sell, or a solicitation of
an offer to buy, any securities, or the
solicitation of a proxy or an attempt to
influence any voting of securities, by any
person.
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Company Overview

• Development and production company
• Offshore solution
• provider for exploration
• oriented majors and
• independents
• Unique, repeatable strategy

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Our DP Strategy Works
Oil Gas Corporation
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Area of Operations
Over 50 blocks in Gulf of Mexico 7 blocks in
North Sea
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Company Profile

• 3-year reserve replacement 374
• 3-year FD costs 0.96/Mcfe

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Company History
Oil Gas Corporation
ATP was founded in 1991 and completed an initial
public offering in February 2001
ATP acquires additional UKCS Blocks and begins
first North Sea development
ATP completes its first sub-sea development
ATP incorporated on August 8th
2002
1995
1997
1991
1998
ATP acquires all Statoils properties on the
Outer-Continental Shelf
ATP is one of the first companies to utilize
horizontal drilling offshore
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History of Producing Results Production and
Reserve Growth
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Focus in 2002
Oil Gas Corporation

• Increasing financial flexibility
• Reduced bank debt 14 million in 2002
• Increased working capital 30 million in 2002
• Overall capital liquidity improvement 44 million
• Meeting operating goals
• Beat first, second, and third quarter production
  guidance in 2002
• Expect to achieve full year 2002 production
  guidance, despite curtailed production associated
  with Hurricanes

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Operating Performance
Oil Gas Corporation
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• Bank Subordinated Debt/Proven Reserves(1)
  0.40 / Mcfe
• LTM EBITDA / Interest Expense(1) 6.6x
• Bank Subordinated Debt / LTM EBITDA(1)
  1.5x
• YTD 3Q02 Discretionary Cash Flow / Mcfe(1)
  1.96/Mcfe
• At September 30, 2002

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Recent Developments
Oil Gas Corporation

• 3Q02 Activity
• Recompletion of EC 240, SM 7 and WC 462
• Production to contribute in 4Q02
• 4Q02 Development of 5 projects
• WC 101
• 4 recompletions and stimulations
• Production to contribute in 1Q03
• 1Q03 Development
• WC 284 and EI 71

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Current Developments
WC 101
WC 284
EI 71
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Future Developments (2003 2005)
100 of development projects are ATP operated
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North Sea Developments
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Oil Gas Corporation
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UK Southern Gas Basin
The Tors Helvellyn Venture
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Water Depth 90 Working Interest 50 Net
Revenue Interest 50 Platform/Wells One
subsea well, tied back to Amethyst Field First
Production First Half 2003 Producing Sands
Rotliegend and Carboniferous Total gas
column 200 meters Discovery well
drilled 47/10-1 in 1985 Tested at 29.4
MMcfpd by BP Development well 47/10-7 drilled
4Q02 1800 of horizontal Rotliegend and
Carboniferous penetration Tested January
2003 at 60 MMcfpd by ATP
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Tested January 2003 at 60 MMcfpd by ATP
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Working Interest 50 Net Revenue Interest
50 Platform/Wells Subsea/unmanned
platform First Production 2004 Producing
Sands Rotliegend Two wells
drilled 49/12-6 tested 15 20 MMcfpd from 2
zones 49/12-8 tested 27 47 MMcfpd from 2
zones Total gas column In excess of 120 meters
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Oil Gas Corporation
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Kilmar
Garrow
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Working Interest 75 Net Revenue Interest
75 Platform/Wells Kilmar platform, Garrow
subsea First Production 2005 Producing Sands
Rotliegend and Carboniferous Wells
drilled 43/22-1 (Kilmar) Tested 12.5
MMcfpd 43/22-2 (Kilmar) Tested 33
MMcfpd 43/21-2 (Garrow) Tested 19
MMcfpd Total gas column Kilmar gt150m Garrow
80m
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• DP strategy produces strong operational and
  financial results, while reducing risk
• Successful operator in two core areas
• Gulf of Mexico
• U.K. Southern Gas Basin
• Robust U.S. and U.K. development inventory
• Rapid growth since inception in 1991

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NASDAQ ATPG ATP Oil Gas Corporation4600 Post
Oak Place, Suite 200Houston, TX
77027-9726713-622-3311 ATP Oil Gas (UK)
Limited Victoria House, London Square, Cross
Lanes Guildford, Surrey GU1 1UJ United
Kingdom 44 (0) 1483 307200 www.atpog.com