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Tuesday, November 30, 2010

Link to New ATP Presentation

They key at this point is obviously permitting, but for anyone who has followed the company you have to be struck by page 8 and the $500mil to $800mil of liquidity that the company now has.

A year ago they had basically zilch and still didn't have the Titan installed. 

It is going to take a permit to get people feeling better, but this company is in much better shape than a year ago (both the liquidity and the fact production has doubled).

http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9NDA1OTEzfENoaWxkSUQ9NDE0ODY1fFR5cGU9MQ==&t=1
Posted by Devon Shire at 7:23 AM
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3 comments:

  1. exactly! monthly production is now double 9 months ago, titan is in and producing like crazy, liquidity is up by hundreds of millions, oil is up, and the stock price is down!
    eventually the market will correct this mistake in pps.

    ReplyDelete

  2. Devon Shire,

    You hit the nail on the head with the permit comment. One was issued today for deepwater. As soon as ATPG gets the next permit, people will be chasing the PPS to buy the stock.

    When it hits $22 again, all 19 million shorts will be under water. Then there will be no looking back. Even if the shorts purchased 2012 leaps for cover, the interest on the borrowed shares is over 17% - with ATPG gaining steam toward debt reduction, this will again be an apparent winner.

    Thanks for your insight on this stock.

    Headnorth

    ReplyDelete

  3. Headnorth,

    Nice to see you here. Who received a deepwater permit today ? Was it for a new well ?

    Thanks

    ReplyDelete

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