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Forum - ATP Oil & Gas Corporation - ATPG   

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From: hazeleye (Rep: 257) reply to msgreenacresDate: 08/17/2012 20:38
Forum: ATP Oil & Gas Corporation - Msg #446Thread #673442932 (Rec: 0)
Re: ATPG Hey JJ and Lion Pit. . ...

You should have offered them a 701,000,000 loan, and I don't even have a law degree



meep meep buy dyax meep meep



Reply to msgreenacres - Msg #2304950 - 08/17/2012 18:37

ATPG Hey JJ and Lion Pit. . ...

Hope you took my advice and did not follow me in this trade.

As you all know by now, minimal details are available on ATPG's website about the terms of this 11. This one really snaked me. . .I reached out to the company about a week ago to offer facilitation of private financing, but it seems as they took a DIP from their top 5. I did not receive a response, so I assumed that they had some kind of deal in place. Obviously, their B/K lawyers advised them to file for protection from creditors, or maybe it was a term of the DIP loan for 700M.

I have very few shares at this point (less than 700), as I sold them when they peaked at .51 and made a nice profit from .36.

As you may know, it is an employee owned company, so their may be a provision in the 11 Monday for the preservation of commons. That has not been revealed. I may put in a low bid to swoop up some shares.

In my mind, I probably analyzed the situation too deeply. I really thought that what might have been happening was the most clever hostile takeover I have seen. Talked to my lawyers, and they told me that even with the details and the day to day operations in place, there are no guarantees. "Emerging may take years" they told me, but with oil and gas prices and the demand, and ATPG being an employee held company, I MAY be willing to go a few shares on a hedge. After all, buyouts are possible during 11, and the tangibles are there. The extreme opposite is 11 could turn to 7.
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