HOUSTON, July 25 /PRNewswire-FirstCall/ -- ATP Oil & Gas Corporation (Nasdaq: ATPG) announced today that it plans to raise more than $100 million through a private placement of non-convertible, perpetual preferred stock. The Company intends to use the net proceeds from this offering to accelerate its development activities and for general corporate purposes.

(Photo: http://www.newscom.com/cgi-bin/prnh/20030428/ATPGLOGO )

The non-convertible, perpetual preferred stock will not be registered under the Securities Act of 1933, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The non-convertible, perpetual preferred stock will be offered in a private placement in the United States pursuant to applicable exemptions under the Securities Act of 1933. This press release shall not constitute an offer to sell or the solicitation of an offer to buy.

About ATP Oil & Gas

ATP Oil & Gas is focused on development and production of natural gas and oil in the Gulf of Mexico and the North Sea. The Company trades publicly as ATPG on the Nasdaq National Market.

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.

SOURCE  ATP Oil & Gas Corporation
    -0-                             07/25/2005
    /CONTACT:  T. Paul Bulmahn, Chairman and President, or Albert L. Reese
Jr., Chief Financial Officer, both of ATP Oil & Gas Corporation,
+1-713-622-3311/
    /Photo:  http://www.newscom.com/cgi-bin/prnh/20030428/ATPGLOGO
             AP Archive: http://photoarchive.ap.org
             PRN Photo Desk, photodesk@prnewswire.com /
    /Web site:  http://www.atpog.com /
    (ATPG)

CO:  ATP Oil & Gas Corporation
ST:  Texas
IN:  OIL
SU:  OFR

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7020 07/25/2005 07:30 EDT http://www.prnewswire.com