ATP Provides Further Update on Operations

Business Wire, Sept 30, 2008

HOUSTON -- ATP Oil & Gas Corporation (NASDAQ:ATPG) reported on September 16th minimal impact from Hurricane Ike on its production and drilling operations in the Gulf of Mexico; further inspection has confirmed very little physical damage to production facilities from both Hurricanes Ike and Gustav. The ATP Innovator at Gomez remained on station throughout both Ike and Gustav, and the drilling rig Seadrill Americas West Sirius has returned to Morgus and Mirage (Mississippi Canyon 941/942) and has resumed drilling.

ATP facilities are available for production at nearly all of its offshore locations. The company has begun production at Canyon Express as previously reported, and has established partial production at Mississippi Canyon 711 (Gomez) and other locations. ATP has been informed that certain third-party pipelines and on-shore receiving stations servicing several ATP locations have been impacted. ATP will resume production at these impacted locations as soon as third-party pipeline and processing facilities are operational. As a result of these temporary shut-ins, approximately 5-7.5 Bcfe of ATP's production will be deferred from the third quarter. The company will provide further updates as more information becomes available.

About ATP Oil & Gas Corporation

ATP Oil & Gas is an international offshore oil and gas development and production company with operations in the Gulf of Mexico and the North Sea. The company trades publicly as ATPG on the NASDAQ Global Select Market. For more information about ATP Oil & Gas Corporation, visit www.atpog.com.

Forward-looking Statements

Certain statements included in this news release are "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. 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. More information about the risks and uncertainties relating to ATP's forward-looking statements are found in our SEC filings.