Big Dog's Boom Boom Room Message Board

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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: CommanderCricket who wrote (33388)	7/7/2004 8:04:40 AM
From: Ed Ajootian	Read Replies (2) of 206113

CC, ATPG -- You reminded me that contrary to my earlier comment about this, there still is one more overlevered burnout E&P other than ABP and that is ATP Oil & Gas. They seem to have turned the corner with all the wells they got into production a few months ago but one of the problems with working in the GOM is that you can never rest on your laurels due to the high decline rates of the wells over there. They have a large amount of warrants out right around the current quote, I wonder if the potential dilution from those are what is holding the stock from appreciating higher. Things are setting up pretty well for them to do an equity raise sometime in the Fall, which is when they are planning to embark on their largest project ever I believe.

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