ATP Oil & Gas Corporation

ATP Oil & Gas Corporation

IPAA

2002 Oil & GasInvestment Symposium

April 22-24, 2002

ATPOil & Gas

Corporation

Taking abusiness approach

to the oil and gas business.

ATPOil & Gas

Corporation


Forward-looking Statement

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 Company’s 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 Securitiesand 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.

ATPOil & Gas

Corporation


Area of Operations

Over 50 blocks in Gulf of Mexico

7 blocks in North Sea

WC 101

WC 152

ATPOil & Gas

Corporation


Company Overview

• Founded in 1991

• A “D & P” company• Development and Production• Offshore solution provider for exploration-

oriented majors and independents

• Win-Win Solution Provider• Seller eliminates future capital expenditures

on non-core assets, but receives cash flow• ATP eliminates exploration risk, cost and

time

ATPOil & Gas

Corporation


Company History

ATP was founded in 1991 and completed an initial public offering in February 2001

1995 200220021997 199919961991

The Company is

incorporated

on August 8th

ATP acquires the third-party

interests from its two partnerships and enters into a

new financing arrangement

ATP completes its first sub-sea

development

ATP wins numerous awards for its outstanding

technological achievements and

growth record

ATP acquires all properties of

Statoil (US) on the outer-

Continental Shelf of the Gulf

of Mexico

ATP acquires its first properties in the UK

North Sea

ATP becomes one of the first

independents to utilize horizontal

drilling in offshore operations

ATP opens the U.K. office commencing operations in the

Southern Gas Basin of the UK North Sea

1998 2000 2001

ATP awarded UKCS Blocks 42/25a and

43/21a by DTI as an Out of

Round License

ATPOil & Gas

Corporation


2001 Benchmarks

Production

Reserves

Reserve Replacement

Debt

Oil & Gas Revenues

EBITDA

ATP Record

Almost Doubled

527%

Reduced 14%

Grew by 7%

Over 62% of revenues for 6 straight years

ATPOil & Gas

Corporation


Production Oil/Natural Gas

(Bcfe) 25.724.5

17.3

9.9

2.8

1997 1998 1999 2000 2001

ATPOil & Gas

Corporation


Proved Reserves

(Bcfe)

235

125

104

5046

1997 1998 1999 2000 2001

ATPOil & Gas

Corporation


Proved Reserve Per ShareATPOil & Gas

Corporation

1997 1998 1999 2000 2001

11.6

8.8

7.3

4.24.4

(Mcfe per share)


Reserve Replacement

Average Reserve Replacement:

1997-2000 259%

2001527%

ATPOil & Gas

Corporation


Debt ReductionATPOil & Gas

Corporation

2000 2001

$100Million

$116Million


Historical Operating Performance

($ in millions)

1997 1998 1999 2000 2001

68% 72% 62% 65%

62%

$94

$84

$55

$43

$27$20

$15$8$5

EBITDA REVENUES

$58

Margin

ATPOil & Gas

Corporation


Cash FlowATPOil & Gas

Corporation

$17

$43

$47

1999 2000 2001

($ in millions)

Cash flow is EBITDA less interest expense


2002 Production Guidance

Gulf of Mexico2001 25.7 Bcfe (82% gas)

2002 26.0 Bcfe (75% gas)

1Q02 6.2 Bcfe

2Q02 6.5 Bcfe

Guidance for future quarterly production will be given

during the year. First U.K. North Sea production is

scheduled for 2003.

ATPOil & Gas

Corporation


2002 Development Projects

Gulf of MexicoSouth Marsh Island 189 PDNP to PDP

Projected start date April 2002

Actual first production March 18, 2002

Eugene Island 71 PUD to PDP

Pipeline installation ongoing

Projected start date 2nd Quarter

West Cameron 101 PUD to PDP

Projected start date 4th Quarter

13 workovers PDNP to PDP

Capital less than $20 million 32 Bcfe moved

to PDP

ATPOil & Gas

Corporation


2002 Development Projects

UK North Sea

Helvellyn (Block 47/10) PUD to PDNPUnder development PDP 2003

ATPOil & Gas

Corporation


Strong Development Track Record

Inception (1991) – March 31, 2002 PUD’s taken to production 28 PUD’s in development planning 12

Extensive Subsea Expertise Subsea Wells Operated 10 Subsea Development Wells Planned 7 Industry Leader in Long Reach Subsea Tiebacks

- Ladybug 18 miles

100% of properties under development are operated, allowing control of the timing and amount of capital expenditure

ATPOil & Gas

Corporation


Operational Expertise of Senior Technical Staff

Name Age BackgroundLeland E Tate 54 - President, ARCO North Africa - Dir. General, ARCO Joint Ventures Senior Vice President - Dir. Operations, ARCO British Ltd, North Sea Operations - VP Engineering, ARCO International

- Vice President, ARCO Gulf of Mexico

Adrian Turner 47 - President, ARCO Middle East - Managing Dir, ARCO Asia Pacific

Managing Director - Commercial Vice President, BP Amoco ATP Oil & Gas (UK) Ltd. - Commercial Negotiator, ARCO UK and

Conoco, North Sea

G. Ross Frazer 46 - Operations & Engr. Manager, British-Borneo Exploration, Inc.

Vice President - - Chairman, API Houston Chapter Advisory Engineering - Member, APIHouston Chapter–Deep Water

Operations Steering Committee

Robert M. Shivers 44 - Commercial/Development Manager – Deepwater Gulf of Mexico, Texaco

Vice President - - Asset and Project Team Manager – Projects UK North Sea, Texaco

- Drilling Engr Manager–Gulf of MexicoNorth Sea, Texaco

ATPOil & Gas

Corporation


ATP Upside

Outer Continental Shelf

Shallow Deepwater Gulf

North Sea

ATPOil & Gas

Corporation


Property Overview

Gulf of MexicoShelf Program

WC 101

WC 152

ATPOil & Gas

Corporation


Garden Banks 409 (Ladybug)

Gulf of MexicoShallow Deepwater

WC 101

WC 152

Ladybug•ATP Operated•1 million barrels produced after 135 days

ATPOil & Gas

Corporation


Southern Gas Basin of North Sea

ATPOil & Gas

Corporation


Southern Gas Basin of North Sea

ATP Acquisition Blocks

Other Opportunities

The Tors

Helvellyn

Venture

ATPOil & Gas

Corporation


Investment Considerations

Six straight years of increases ofProductionReservesRevenuesEBITDACash Flow

12 projects, 100% operated by ATP

Per share amounts•2001 cash flow $2.46•2002 cash flow estimates $2.10-$2.50•Proved reserves @12/31/01 11.6 Mcfe

ATPOil & Gas

Corporation


NASDAQ: ATPGATP Oil & Gas Corporation

4600 Post Oak Place, Suite 200Houston, TX 77027-9726

713-622-3311www.atpog.com

ATPOil & Gas

Corporation

Documents

ATP Oil & Gas Corporation