Al Reese, Jr.

Chief Financial Officer

IPAA OGIS New York
April 17, 2012

1
Certain statements included in this presentation contain "forward-looking statements" within the meaning of the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934. ATP cautions that assumptions, expectations,
projections, intentions, plans, beliefs or similar expressions used to identify forward-looking statements about future
events may, and often do, vary from actual results and the differences can be material from those expressed or
implied in such forward looking statements. Some of the key factors which could cause actual results to vary from
those ATP expects include, without limitation, volatility in commodity prices for crude oil and natural gas prices,
condition of the capital markets generally, as well as ability to access them, the timing of planned capital
expenditures, availability of acquisitions, uncertainties in estimating reserves and forecasting production results,
operational factors affecting the commencement or maintenance of producing wells, the and uncertainties regarding
environmental regulations or litigation and other legal or regulatory developments affecting its business. ATP assumes
no obligation and expressly disclaims any duty to update the information contained herein except as required by law.
ATP generally discloses, in filings made with the SEC, only proved reserves that can demonstrate by actual production
or conclusive formation tests to be economically and legally producible under existing economic and operating
conditions. ATP and its independent third party reservoir engineers use the term "probable" to describe volumes of
reserves potentially recoverable through additional drilling or recovery techniques that the SEC's guidelines prohibit a
company from including in proved reserves. These estimates are by their nature more speculative than estimates of
proved reserves. Any estimates of probable reserves in this presentation are based on the December 31, 2011 reports
of our independent third party engineers. PV-10 is a non-GAAP financial measure because it excludes income tax
effects. Management believes that the presentation of PV-10 provides useful information to investors because it is
widely used by professional analysts and sophisticated investors to evaluate oil and gas companies. PV-10 is not a
measure of financial or operating performance under GAAP. The most directly comparable GAAP financial measure is
the standardized measure of discounted future net cash flows. PV-10 should not be considered a substitute for the
standardized measure of discounted future net cash flows as defined under GAAP, which is calculated at year end
under accounting rules by applying pricing assumptions of the SEC to its proved reserves. More information about the
risks and uncertainties relating to ATP's forward-looking statements is found in the companys SEC filings or website
www.atpog.com.
Corporate Headquarters
4600 Post Oak Place, Suite 100
Houston, TX
77027- 9726
Telephone: (713) 622 3311
IR Fax: (713) 622 6829
Forward Looking Statements
Investor Relations
Al Reese, Jr.
Chief Financial Officer

Tom Kucera, CFA
Director of Financial Analysis

Henry Coulter, CPA
Financial Analyst

Isabel Plume
Chief Communications Officer

Sheila Thornton
Communications & Corporate
Affairs Specialist

atpinvest@atpog.com
www.atpog.com
NASDAQ: ATPG
Four Core Areas of Operation
Offshore acquisition,
development and
production of oil and
natural gas
Focused primarily on
oil-weighted reservoirs
Future production
growth from existing
proved undeveloped
reserves
Operate infrastructure
assets which are
complementary to low
risk hub development
Recent expansion into
deepwater Israel
provides upside
potential
(1) Refer to Appendix for additional information.
Note: All reserve figures based on third-party reserve reports as of 12/31/2011.
2
MMBoe % of Reserves
North Sea 64.7 31%
GOM Shelf 8.8 4%
GOM Deepwater 137.8 65%
Mediterranean Sea - -
Total Proved & Probable 211.3 100%
PV10 $7.68 billion
(1)
MMBoe % of Reserves
North Sea 64.7 31%
GOM Shelf 8.8 4%
GOM Deepwater 137.8 65%
Mediterranean Sea - -
Total Proved & Probable 211.3 100%
PV10 $7.68 billion
(1)
Core areas of operations
MMBoe
% of
Reserves
North Sea: 63.9 33.0%
GOM Shelf: 5.3 3.0%
GOM Deepwater: 125.2 64.0%
Mediterranean Sea:
Total Proved & Probable 194.4 100.0%
PV-10 $7.3 billion
(1)
Probable
reserves =
75.5
Mmboe
Proved
reserves =
118.9
Mmboe
Low Risk Development Portfolio
3
Large inventory of proved and probable reserves to develop
- Known hydrocarbons with no exploration risk
- 98% success rate converting undeveloped properties to production
- Proved reserves consist of 66% oil / 34% natural gas
Development projects drive long-term production growth

Oil
66%
U.K. Gas
15%
U.S. Gas
19%
Proved and Probable = 194.4 MMBoe
Proved and Probable SEC PV-10 = $7.3 billion
Proved reserves = 118.9 MMBoe
Proved reserves SEC PV-10 = $4.2 billion
2011YE Proved reserve
composition
2011YE Proved and Probable reserve
composition
Pre-tax PV-10 of 2011YE proved reserves increased 50%+ over 2010
SEC PV-10
= $4.2 billion
SEC PV-10
= $3.1 billion
Note: All reserve figures based on third-party reserve reports as of 12/31/2011. See appendix for price deck detail.
16.1
21.0
24.6
2009
average rate
2010
average rate
2011
average rate
2012
Production in Avg. MBoe/d
Fourth
Telemark well
(MC 942 A-3)
Workovers at
MC 941 A-1 &
A-2
Clipper on
production
2013 Growth Drivers
Full year of Telemark
production with four
wells online
Full year of Clipper
production
Two additional wells
at Gomez (#9 & 10)
Greater realizations
per barrel due to
decrease in NPI / ORRI
payout %
Annual Production Growth Expected
to Continue
4
ATP is at an Inflection Point
5
Experiencing significant improvement in production rates
and oil production mix
Substantial decline in infrastructure capital expenditures
going forward
Growing production and cash flow further enhanced by
the paydown of current NPIs and ORRIs, which results in
increased cash flow to ATP
Initial wells at Clipper have some of the highest
deliverability rates of any current and historical ATP oil
and gas wells
Liquidity is Sound
6
Estimated cash position of $200+ million at 3/31/2012
No near-term debt maturities or maintenance financial
covenants
ORRI and NPI repayments tied directly to production
revenues
Major infrastructure projects near completion
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2012 Multiple Catalysts for ATP
MC 941 A-1 & A-2
workover
4-7 MBoe/d net
incremental production
estimate
Work currently
underway
Results of initial
exploration well in Israel
Spud date in late April
2012
Potential to add 0.9-1.2
Tcf of reserves
First production at
Clipper
Late 3Q2012 /
early 4Q2012
estimated
2 wells tested at 16
MBoe/d net combined
MC 942 A-3 (completed)
4th well at Telemark
Online February 25,
2012
>7 MBoe/d
2Q 3Q 4Q 1Q
7
Estimated cash balance of $200+ million at 3/31/2012
First quarter production estimated at 1.8 1.9 MMBoe (65%+ oil and condensate)
Progress at Telemark
MC 942 A-3 well is on production
MC 941 A-1 & A-2 workovers in progress
Clipper on track for production late 3Q2012 / early 4Q2012
Preparation for first exploration well in Israel
Spud date of first well expected in late April 2012
On March 15, 2012 ATP was awarded the Safety-in-Seas Award from the National Ocean Industries
Association. ATP was chosen by a blue-ribbon panel of judges from among multiple nominees.
The national award recognized ATP for its exemplary contribution to the safety of offshore energy
workers, as well as for the design conceived three years prior to the Macondo incident and
safety-redundancy of the ATP Titan, a technologically advanced deepwater drilling and
production platform in the Gulf of Mexico.
First Quarter Update
8
99% of all proved reserves on a PV-10
basis are operated by ATP
- Ability to control costs and timing
- Ability to manage operating risks
through sell down of interests
- Known track record of developing
assets
Deepwater operating expertise
- ATP ranks 4th overall in deepwater
Gulf of Mexico wellbores
- Expertise provides ATP new global
opportunities
Experienced and incentivized
management and technical teams
- Deep technical team with average
experience of over 25 years
- Key members of senior management
team have worked together since
1984
- Senior management and directors
own ~15% of ATP
- Every employee has an ownership
stake in ATP
2
2
3
3
4
4
5
6
7
7
8
9
14
16
17
18
18
28
40
53
LLOG
Petrobras
Newfield
Nexen
Marathon
Noble
Murphy
Chevron
ERT
Mariner
Hess
Marubeni
BHP
Exxon
Walter
Eni
ATP
Anadarko
BP
Shell
Deepwater Gulf of Mexico Wellbores (including Majors)
Note: Does not include eight companies, each of which has one wellbore.
Source: BOEM website 2010
Proven Offshore Operator with Experienced
Management
Majors
Independents
ATP (Independent)
9
ATP owns substantial infrastructure assets in operation today and additional assets are under
construction with deployment scheduled in 2014
Long-lived re-useable assets (20 - 50 years) are key to ATPs hub strategy
ATP will continue to operate and control its assets
Complete & Producing Under Construction
Reusable Floating Deepwater Infrastructure
Initial Installation Gomez Hub Telemark Hub Cheviot Hub
Capacity 20 MBbls/d / 100 MMcf/d 25 MBbls/d / 50 MMcf/d
(1)
25 MBbls/d / 50 MMcf/d
In Service / Utility 2006 / >20 yrs 2009 / >40 yrs 2014 / >50 yrs
Water Depth Range 300' - 3,500' 1,500' - 9,500' 500' - 9,500'
% Ownership 51%
(2)(3)
100%
(3)
100%
(1) Expandable to 100 MMcf/d.
(2) Created an SPV by selling 49% ownership in the ATP Innovator to GE Financial Services for $150 million.
(3) Ownership held in ATP-owned SPV.
Fleet of Re-usable Floating Deepwater
Infrastructure
10
ATP Innovator - Gomez Hub ATP Titan Telemark Hub Octabuoy - Cheviot Hub






Canyon Express
Telemark
Gomez
Clipper
Entrada
Ladybug
Hub strategy improves
economics and growth
opportunities.

Future Development
Producing
Producing + Future Development
11
Deepwater Gulf of Mexico Operations
14.8
19.5
7.9
8.9
22.2
2003 (Inception) 2011
Production (MMboe)
Probable reserves (MMBoe)
Proved reserves (MMBoe)
50.6
22.7
Gomez Hub Telemark Hub Clipper Project
22.5
38.8
8.4
16.7
5.3
2006 (Inception) 2011
Production (MMboe)
Probable reserves (MMBoe)
Proved reserves (MMBoe)
60.8
30.9
7.1
8.2
4.3
5.4
2010 (Inception) 2011
Probable reserves (MMBoe)
Proved reserves (MMBoe)
13.6
11.4
History of outperforming initial third-party reserve estimates
12
The value of deepwater is that reserves tend to increase alongside production
Deepwater Math
Note: All reserve figures based on third-party reserve reports as of 12/31/2011.
13
Summary:
Acquired MC 941, MC 942 & AT 63 in 2006
Acquired AT 19 & AT 62 in 2008
ATP operates with a 100% WI
Initial production started March 2010 at the
Telemark Hub
Water depth ~4,000 ft
MC 942 A-3 well on production Feb 25,
2012
MC 941 A-2 well workover in progress
MC 941 A-1 producing; sleeve shift
scheduled after completion of A-2 workover
AT 63 producing
Telemark Hub Property Overview
Note: All reserve figures based on third-party reserve reports as of 12/31/2011.
2011YE:
38.8 MMBoe Proved Reserves (79% Oil)
55.5 MMBoe Proved & Probable Reserves (85% Oil)
Shell/ StatoilHydro/ Anadarko Vito discovery, July 29,
2009: Well encountered more than 250 net feet of oil
pay in subsalt Miocene sands
MC 940
MC 941
100% WI
MC 942
100% WI
MC 943
MC 987 MC 986 MC 985
MC 984
Vito
AT 16 At 17 AT 18
AT 19
100% WI
AT 63
100% WI
AT 62
100% WI
AT 61 AT 60
ATP
Titan
ATP blocks
14
Summary

Acquired by ATP in 2008, operated with
100% WI
- Discovered in 2005 by Pioneer Natural
Resources
Water depth ~3,450 ft
GC 300#2 well completed in July 2011
(Flow-tested at 12.3 MBoe/d)
GC 300#4 well completed in December 2011
(Flow-tested at 9.8 MBoe/d)
Combined test: 22.1 MBoe/d (16.4 MBoe/d
net; 62% oil)
First production expected from both wells
late 3Q2012 / early 4Q2012
Clipper (Green Canyon Block 300)
Status update
Note: All reserve figures based on third-party reserve reports as of 12/31/2011.
2011YE:
8.2 MMBoe Proved Reserves (72% Oil)
13.6 MMBoe Proved & Probable Reserves (66% Oil)
Pipeline to 3rd party platform, currently in progress,
scheduled for 3Q2012 (lay barge contracted for July)
Onsite work at Murphy Frontrunner, the host platform,
commenced
Clipper tested at 67 percent of
ATPs 2011 average daily production
MBoe/d
16.4
24.6
Clipper combined test
(production expected 3Q2012 /
4Q2012)
ATP
2011
Entrada Garden Banks Block 782
15
Acquired in 2010
Water depth ~4,550 ft
Previous drilling found logged hydrocarbons
in 7 wellbores
ATP operates with 100% WI
Development currently scheduled for 2013
2014
Application for Development Plan in process
in accordance with recent regulations
Expect probable reserves to convert to
proved upon drilling of first well
Note: All reserve figures based on third-party reserve reports as of 12/31/2011.
2011YE:
1.9 MMBoe Proved Reserves (82% Oil)
12.2 MMBoe Proved & Probable Reserves (49% Oil)
North Sea Operations






Cheviot

Skipper
Helvellyn

Wenlock
Blythe
L-6d
Tors
Future Development
Producing
Producing + Future Development
16
17
Cheviot Hub
Note: All reserve figures based on third-party reserve reports as of 12/31/2011.
COSCO Shipyard, Nantong, China, March 2012
2011YE:
38.9 MMBoe Proved Reserves (66% Oil)
55.9 MMBoe Proved & Probable Reserves (65% Oil)
Cheviot
First oil expected in 2014
Anticipated peak production of
25 MBbls/d and 50 MMcf/d
ATP operates with a 100% WI
In active discussion with potential
working interest partners
Extensive technical analysis, including
reservoir simulation, performed by ATP
Filed field development plan
4/15/2011
Octabuoy (Under Construction) - Cheviot Hub
00
Daniel East Daniel East
Shimshon Shimshon
Daniel West Daniel West
Discoveries Discoveries
ATP Acreage ATP Acreage
Leviathan Leviathan
Tamar Tamar
Dalit Dalit
Cyprus
Block 12
Cyprus
Block 12
18
ATP operates with a 40% WI
Anticipate initial drilling to begin 2Q2012
- ATPs portion: $24$29 million
Water depth 3,622 ft., target depth 14,764 ft.
Lockwood & Assoc. estimated Shimshons
potential gas reserves:
- Gross: 2.5 3.4 Tcf
- Net to ATP: 0.9 1.2 Tcf
Mediterranean Licenses
Shimshon Property Overview
Israel Market Pricing
Current local gas price in excess of $6.50/Mcf
Current LNG prices of $89/MMBtu to Europe and $1416 to Asia
ATPs Opportunity in Offshore Israel
Provides Additional Upside
Three Deepwater Licenses:
- Operator of all three licenses
- Ownership ranges from approximately 30% to 50%
- Minimal upfront investment
Key Points:
- Small cost for extremely large potential
- Opportunity to enter world class area during the early stages of exploration and development
- Enhances future ability to acquire and develop proved undeveloped assets in this region

0
4
8
12
16
Leviathan
Israel
Tamar 1
Israel
Dhirubhai 1
Indonesia
Poseidon 1
Australia
Dhirubhai 3
Indonesia
Arous El Bahar
Libya
Pluto
Australia
Clio 1
Australia
Windjammer 2
Mozambique
Chandon 1
Australia
Large Potential in Israel
R
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v
e
r
a
b
l
e

N
a
t
u
r
a
l


G
a
s

(
T
c
f
)

Source: IHS-EDIN database.
Filtered for non-associated gas fields, water depth greater than 1,000 ft and discovery date from 2001-2010.
19
For low costs ATP will evaluate ~1 TCF net
Top 10 Deepwater Gas Discoveries Worldwide (2001 2010)
East Mediterranean Rationale
6 successful exploration wells out of 6 attempts since drilling began in 2008 for
deepwater subsalt targets
Elephant-sized natural gas discoveries totaling 35 Tcf (5.8 bn Boe) and $285 bn of revenue potential
Tamar & Leviathan fields, two of the largest deep water natural gas discoveries of the last decade
Large natural gas discovery in Cyprus Block 12
Significant remaining potential of gas and oil in the area
Noble Energy has resumed drilling Leviathans deeper oil prospects estimated to hold ~2.4 bn Bbls
20
SIGNIFICANT SUBSALT MIOCENE DISCOVERIES
Noble Energy
enters Israel
Yam Tethys
discoveries
(1.2 TCF)
Tamar
discovery
(9.1 TCF)
Leviathan
discovery
(17 TCF)
Cyprus
discovery
(7 TCF)
Tanin
discovery
(1.2 TCF)
Long-Term Capital & Leverage
First lien and second lien debts have no maintenance financial covenants and mature in
2015
ATP began granting NPIs & ORRIs to a combination of vendors and financial firms in 2009
- Attractive from a liquidity standpoint because payments are proportional to ATP
production and pricing from a given property or properties
- Higher prices, higher production = Faster payoff
- Lower prices, lower production = Smaller payments
ATP estimating 3040% of 2012 revenue will be directed to servicing NPIs & ORRIs
currently outstanding; percentage expected to decrease in latter part of 2012 and
reduce to 1520% in 2013
- Another source of increasing available cash flow to ATP above and beyond expected
increase in production volumes
21
Note: See appendix for outstanding amounts.
2012 Capital Outlook
2012 Capital Plan
- ATP's 2012 capex plans call for $400500 million in total capital expenditures
- $5070 million is expected to be contributed by vendors through existing NPI or
deferral programs
Development:
- GOM Telemark MC 942 A-3 on production
- Currently conducting workover on MC 941 A-2 with sleeve shift then scheduled
on MC 941 A-1
- GOM Gomez #9 and #10 wells. Start in late 2012. Primarily a 2013 development
- GOM Clipper pipeline
- North Sea Cheviot, sub-sea trees ordered
Infrastructure:
- North Sea Octabuoy topsides, schedule being finalized, favorable vendor financing
Exploration:
- Israel Shimshon well, targets ~1TCF @ $0.03/MCF
22
Key Investment Highlights
ATP is at an inflection point
- Experiencing significant improvement in production rates and oil production mix
- Substantial decline in infrastructure capital expenditures going forward
- Growing production and cash flow further enhanced by the paydown of current NPIs
and ORRIs, which results in increased cash flow to ATP
Liquidity is sound
- Estimated cash position of $200+ million at 3/31/2012
- No near-term debt maturities or maintenance financial covenants
- ORRI and NPI repayments tied directly to production revenues
- Major infrastructure projects near completion
23
Key Investment Highlights (contd)
Deepwater operating expertise
- ATP ranks 4th overall in deepwater Gulf of Mexico wellbores; this expertise has
provided ATP new global opportunities
Fleet of Re-usable Floating Deepwater Infrastructure
- ATP owns substantial infrastructure assets in operation today; additional assets under
construction with deployment scheduled in 2014
- ATP will continue to operate and control its assets
Substantial asset value
- Proved and probable reserves of 194.4 MMBoe (66% oil) with SEC PV-10 of $7.3 billion
at 12/31/11
- Infrastructure investment of over $1.0 billion
Strong alignment of shareholders, management and employees
- Every employee is an owner of ATP
- Management and Directors own ~15% of ATP
- Key management members have worked together since 1984
Note: All reserve figures based on third-party reserve reports as of 12/31/2011. Refer to appendix for additional information.
24
25
ATP Oil & Gas Corporation (NASDAQ: ATPG)
ATP Oil & Gas Corporation
4600 Post Oak Place , Suite 100
Houston, TX 77027-9726
713-622-3311

ATP Oil & Gas (UK) Limited
Victoria House, London Square, Cross Lanes
Guildford, Surrey GU1 1UJ
United Kingdom
44 (0) 1483 307200

ATP Oil & Gas (Netherlands) B.V.
Water-Staete Gebouw
Dokweg 31 (B)
1976 CA IJmuiden
The Netherlands
31 (0) 255 523377

ATP East Med B.V.
15 Aba Even Street
Herzliya Pituach 46725
Israel

www.atpog.com
ATP Innovator
ATP Titan Octabuoy
26
Appendix
Gomez Hub
Acquired in 2003
- First production in 2006
- Still producing from initial zones
Water depth ~3,000 ft
ATP operates
Six wells on production
DOCD for MC 711#9 and #10 approved January 20,
2012. Wells planned in late 2012-early 2013
Exploration upside
27
Summary
ATP Innovator - Gomez Hub
MC 666
MC 667
100% WI
MC 668
100% WI
MC 710 MC 711
100% WI
MC 712
MC 754
75% WI
MC 756
MC 798 MC 799 MC 800
MC 755
100%
100% WI
ATP blocks
ATP
Innovator
MC 666
MC 667
100% WI
MC 668
100% WI
MC 710 MC 711
100% WI
MC 712
MC 754
75% WI
MC 756
MC 798 MC 799 MC 800
MC 755
100%
100% WI
MC 666
MC 667
100% WI
MC 668
100% WI
MC 710 MC 711
100% WI
MC 712
MC 754
75% WI
MC 756
MC 798 MC 799 MC 800
MC 755
100%
100% WI
ATP blocks
ATP
Innovator
Note: All reserve figures based on third-party reserve reports as of 12/31/2011.
2011YE:
19.5 MMBoe Proved Reserves (64% Oil)
28.4 MMBoe Proved & Probable Reserves (69% Oil)

Hub Concept Improves Economics & Growth
Low-risk development strategy
- Hubs encourage development of neighboring projects
- Proved undeveloped reserves with logged hydrocarbons and extensive seismic
- Staged hub development and operating control provide timing and cost flexibility
Cost effective development plan aided by infrastructure
- Infrastructure assets complementary to strategy
- Application of award-winning innovations and technologies, include 16 patents
awarded and 5 pending and 5 additional filings awaiting first action for a total of 26
inventions and systems
- Long-lived re-locatable assets (20 - 50 years)
28
ATPs Hub Concept is a low-risk, cost-effective development strategy
with significant growth opportunities
Financial Strategy & Risk Management
Capex program continues to focus on development of proven reserves rather than
exploration
Monetize assets and access the equity capital markets when appropriate
Establish SPVs for major infrastructure assets with equity partners or non-recourse debt
Manage leverage and liquidity

Operate properties to control development plan and timing of capital expenditures
Maximize value creation of hubs and other development projects, then reduce exposure
Maintain appropriate capital structure
Utilize multiple capital raising alternatives
Pursue an active oil and gas hedging program
Maintain a comprehensive insurance program
29
Financial Strategy
Managing Risk
Telemark Wells
30
Drilling order Name Description
1 AT 63 #SS04 Atwater Valley 63
2 MC 941 A-1 Mississippi Canyon 941 #3
3 MC 941 A-2 Mississippi Canyon 941 #4
4 MC 942 A-3 Mississippi Canyon 942 #2
Price Deck
(1) Based on USD/GBP conversion rate at $1.55/GBP on 12/31/11.
NYMEX UK Gas
(1)
Crude Natural gas Natural gas
($/Bbl) ($/MMBtu) ($/MMBtu)
YE 2011 SEC pricing $96.19 $4.12 $9.02
31
Derivatives Summary
32
2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY
Gulf of Mexico
Natural Gas Calls
Volumes (MMMBtu) 910 920 920 2,750 - - - - -
Price ($/MMBtu) 5.30 $ 5.30 $ 5.50 $ 5.37 $ - - - - -
Crude Oil Swaps
Volumes (MBbls) 751 759 759 2,269 315 228 230 230 1,003
Price ($/Bbl) 97.36 $ 97.36 $ 97.36 $ 97.36 $ 103.60 $ 108.88 $ 108.88 $ 108.88 $ 107.22 $
Prepaid Crude Oil Swaps
(1)
Volumes (MBbls) 268 202 104 575 - - - - -
Price ($/Bbl) - $ - $ - $ - - - - - -
Crude Oil Basis Swaps
Volumes (MBbls) 273 276 205 754 233 182 184 184 783
Basis Price ($/Bbl, LLS - WTI) 13.53 $ 10.90 $ 10.39 $ 11.71 $ 5.06 $ 4.18 $ 4.18 $ 4.18 $ 4.44 $
Crude Oil Swaptions (Calls Sold)
(2)
Volumes (MBbls) - - - - 90 91 92 92 365
Strike Price ($/Bbl) - - - - 96.50 $ 96.50 $ 96.50 $ 96.50 $ 96.50 $
North Sea
Natural Gas Swaps
Volumes (MMMBtu) 455 460 460 1,375 180 - - - 180
Price ($/MMBtu)
(3)
8.26 $ 8.26 $ 10.13 $ 8.88 $ 11.28 $ - - - 11.28 $
- - -
(2) Call swaptions sold to a third party that allows the third party to exercise and enter into a swap with ATP at the strike price.
(3) Assumes currency translation rate of 1.60 USD per GBP which approximates the rate as of April 13, 2012
Additional hedges, derivatives and fixed price contracts, if any, will be announced during the year.
(1) ATP received cash proceeds at closing averaging approximately $105.03 per barrel. During the future
contract settlement months, ATP will pay cash based on the prevailing market prices in effect at that time,
which may be more or less than ATP were paid.
Derivatives Schedule
(Unaudited)
2012 2013
The above are ATP's financial and physical commodity contracts outstanding as of April 13, 2012
Long-Term Patient Corporate Leverage Structure
$1.5 billion aggregate principal amount with an 11.875% interest rate and May 2015
maturity

$365 million senior secured term loan
March 2011 increased amount from $150 million to $210 million, decreased rate from 11%
to 9% and extended maturity from October 2014 to January 2015
March 2012 increased amount from $210 to $365 million and decreased rate from a 9.00%
to 8.75%

33
High yield bonds (April 2010)
Managing Risk
Debt & Other Obligations
(1) Pro forma values, including additional financings after 12/31/2011.
12/31/2011
Net profits interests (Telemark Hub, Gomez Hub and Clipper) $336.7
(1)
Dollar-denominated overriding royalty interests (Gomez Hub) 227.3
(1)
Other long-term obligations 186.5
Total long-term obligations $750.5
First lien term loans 359.7
(1)
Second lien bonds 1,495.3
ATP Titan, LLC term loan 310.0
Total $2,935.5
34