ATP Oil

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ATP Oil Gas Corporation
Oil Gas Corporation
The Seventh Oil Gas Conference August 5-8,
2002
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Oil Gas Corporation
Taking a business approach to the oil and gas
business.
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ATP Oil Gas Corporation 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 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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ATP Oil Gas Corporation Area of Operations
Oil Gas Corporation
Over 50 blocks in Gulf of Mexico 7 blocks in
North Sea
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ATP Oil Gas Corporation Company Overview
Oil Gas Corporation

• Founded in 1991
• A D P company
• Development and Production
• Offshore solution provider for exploration-oriente
  d majors and independents
• ATP technical staff average 21 years industry
  experience
• Win-Win Solution Provider
• Seller eliminates future capital expenditures on
  non-core assets, but receives cash flow
• ATP eliminates exploration risk, cost and time

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ATP Oil Gas Corporation Company History
Oil Gas Corporation
ATP was founded in 1991 and completed an initial
public offering in February 2001
ATP acquires the third-party interests from its
two partnerships and enters into a new financing
arrangement
ATP acquires all properties of Statoil (US) on
the outer-Continental Shelf of the Gulf of Mexico
ATP awarded UKCS Blocks 42/25a and 43/21a by DTI
as an Out of Round License
ATP opens the U.K. office commencing operations
in the Southern Gas Basin of the UK North Sea
The Company is incorporated on August 8th
2002
1995
1997
1999
1996
1991
1998
2000
2001
ATP completes its first sub-sea development
ATP wins numerous awards for its outstanding
technological achievements and growth record
ATP acquires its first properties in the UK North
Sea
ATP becomes one of the first independents to
utilize horizontal drilling in offshore operations
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ATP Oil Gas Corporation 2001 Benchmarks
Oil Gas Corporation
Production Reserves Reserve Replacement Oil
Gas Revenues EBITDA Debt
ATP Record Almost Doubled 527 Grew by 7 Over
62 of revenues for 6 straight years Reduced by
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ATP Oil Gas Corporation Production
Oil/Natural Gas
Oil Gas Corporation
(Bcfe)
25.7
24.5
17.3
9.9
2.8
1997 1998 1999
2000 2001
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ATP Oil Gas Corporation Proved Reserves
Oil Gas Corporation
(Bcfe)
235
125
104
50
46
1997 1998 1999
2000 2001
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ATP Oil Gas Corporation Proved Reserves Per
Share
Oil Gas Corporation
(Mcfe per share)
11.6
8.8
7.3
4.4
4.2
1997 1998 1999
2000 2001
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ATP Oil Gas Corporation Reserve Replacement
Oil Gas Corporation
Average Reserve Replacement 1997-2000
259
2001 527
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ATP Oil Gas Corporation Five Year Historical
Operating Performance
Oil Gas Corporation
( in millions)
94
EBITDA
REVENUES
84
58
55
43
27
20
15
8
5
1997 1998
1999 2000
2001 68 72 62
65 62
Margin
Note Revenues reflect the effects of settled
hedging activity
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ATP Oil Gas Corporation Discretionary Cash
Flow
Oil Gas Corporation
( in millions)
47
43
17
1999 2000
2001
Cash flow is EBITDA less interest expense
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ATP Oil Gas Corporation Debt Reduction
Oil Gas Corporation
116 Million
100 Million
2000
2001
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ATP Oil Gas Corporation
Oil Gas Corporation
2002 Actual First Half Results and Updated
Guidance
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ATP Oil Gas Corporation 2002 Operating
Performance
Oil Gas Corporation
( in millions)
EBITDA Margin 69 for first six months
Note Revenues reflect the effects of settled
hedging activity
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ATP Oil Gas Corporation 2002 Operating
Performance
Oil Gas Corporation
( in millions)
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ATP Oil Gas Corporation Debt Reduction
Program
Oil Gas Corporation
( in millions)
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ATP Oil Gas Corporation Debt Per Proved Mcfe
Oil Gas Corporation
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ATP Oil Gas Corporation First Half 2002
Capital Liquidity Improvement
Oil Gas Corporation
Working Capital (1) Increased 12.2 million
Bank and Subordinated Debt Decreased
10.0 million Overall Capital Liquidity Improveme
nt 22.2 million ATP has positive working
capital as of June 30, 2002 (1)
(1) Excludes current maturities and
mark-to-market of hedges and derivatives
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ATP Oil Gas Corporation 2002 Development
Projects
Oil Gas Corporation
Gulf of Mexico With capital of less than 20
million ATP is moving 32 Bcfe to proved developed
producing properties (PDP)
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ATP Oil Gas Corporation 2002 Development
Projects
Oil Gas Corporation
North Sea ATP is presently developing the
Helvellyn project (Block 47/10) with production
scheduled for 2003
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ATP Oil Gas Corporation Offshore Expertise
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Oil Gas Corporation

• ATP has extensive subsea expertise
• Subsea wells operated 10
• Subsea development wells planned 7
• Industry leader in long reach subsea
  tiebacks
• - Ladybug 18 miles

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ATP Oil Gas Corporation Operating Control
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Oil Gas Corporation
100 of properties under development are
operated, allowing control of the timing and
amount of capital expenditure
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ATP Oil Gas Corporation 2002 Updated
Production Guidance
Oil Gas Corporation
Gulf of Mexico Production Original full year
guidance 26.0 Bcfe (75 gas) Revised
full year guidance 26.5 Bcfe (70
gas) Original first half guidance 12.7
Bcfe (65 gas) Actual first half performance
14.9 Bcfe (67 gas) 3Q02 6.5 Bcfe
(74 gas) Guidance for future quarterly
production will be given during the year.
First U.K. North Sea production is scheduled
for 2003.
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ATP Oil Gas Corporation 2002 Updated Expense
Guidance
Oil Gas Corporation
Gulf of Mexico LOE Original full year
guidance 0.70/Mcfe Revised full year
guidance 0.54/Mcfe Actual first
half 0.49/Mcfe
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ATP Oil Gas Corporation ATP Upside
Oil Gas Corporation
Outer Continental Shelf Shallow Deepwater
Gulf North Sea
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ATP Oil Gas Corporation Property Overview
Oil Gas Corporation
Gulf of Mexico Shelf Program
Future developments on the shelf
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ATP Oil Gas Corporation Garden Banks 409
(Ladybug)
Oil Gas Corporation
Gulf of Mexico Shallow Deepwater

• Ladybug
• ATP Operated
• 2 million barrels produced after 300 days

Future developments in deep water
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ATP Oil Gas Corporation Southern Gas Basin
of North Sea
Oil Gas Corporation
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ATP Oil Gas Corporation Southern Gas Basin
of North Sea
Oil Gas Corporation
The Tors
Helvellyn 2002 Development
Venture
49/12a
ATP Acquisition Blocks
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ATP Oil Gas Corporation Investment
Considerations
Oil Gas Corporation
??Six straight years of increases of
Production Reserves Revenues EBITDA Cash Flow
??12 undeveloped projects with over 150 Bcfe
of proved reserves to be developed in 2002
2004 100 operated by ATP
??Significantly improved liquidity

• Proved reserves per share
• _at_12/31/01 11.6 Mcfe

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ATP Oil Gas Corporation
Oil Gas Corporation
NASDAQ ATPG ATP Oil Gas Corporation4600 Post
Oak Place, Suite 200Houston, TX
77027-9726 713-622-3311 www.atpog.com