One last comment tonight on ATPG. These guys are heavy on the promotion side which I like always selling you know the type. Not like the VPI guys who are afraid to spend 2k on a press release. Keep an eye on this stock I think the combination of high gas prices and company pumping could produce a winner.
ATP Oil & Gas Corporation Chief Financial Officer Albert Reese, Jr. Updates California Investors on Fast Growing Energy Independent's Story
HOUSTON, March 20 /PRNewswire/ -- Mr. Albert L. Reese, Jr., senior vice president and chief financial officer of ATP Oil & Gas Corporation (Nasdaq: ATPG - news), said, ``We ended 2000 with 125 Bcfe of reserves, which were 118% of the year-end reserves in 1999. This represents another consecutive year of growth for the company.'' Reserves have increased 263% on a 5-year compounded annual growth rate, making ATP the fastest growing energy independent in the Standard & Poors Small- and Mid-cap group. The company previously announced a reserve acquisition target of 66 Bcfe for 2001. In 2001, ATP closed on one acquisition of 13.5 Bcfe and has Purchase and Sale agreements for another 40.0 Bcfe. Reese outlined ATP's growth strategies while in Los Angeles meeting with investors and analysts for two days.
Reese said, ``Since 1997, we've generated a consistent EBITDA margin of more than 60%. In fact, we've posted record numbers every year since our inception, meaning we've executed our game plan regardless of commodity prices. Our goal is to continue that trend for the foreseeable future.''
About ATP Oil & Gas Corporation
Houston-based ATP Oil and Gas is one of the fastest growing energy companies focused on acquisition, development and production of natural gas in the Gulf of Mexico and the Southern Gas Basin of the U.K. North Sea. The company was listed by Inc. 500 as the fifth fastest growing private company in 2000, up from its ranking of 21st in 1999, and the fastest growing energy company for both years. The company trades publicly as ATPG on the NASDAQ National Market |
