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Gold/Mining/Energy : ATPG Shareholders

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To: BuckeyeOil who wrote (2869)	3/20/2013 5:56:15 PM
From: Kramer38	4 Recommendations Read Replies (1) of 3620

Look, any time a new discovery is made that expands a trend, or provides new geologic data to the industry, that is a good thing. But it is quite a different thing to assume that discovery is going to impact the finances of all companies, or even a few companies in the GOM. I spent 30 yrs. in the O&G business, the last 15 in the Deepwater GOM. I know for a fact that the Shenandoah discovery will have no impact whatsoever on ATP's nearest acreage 40 miles away. The rest of ATP's acreage is even further away. It is akin to saying a home sale in Beverley Hills is going to impact the value of a home in S. Central L.A. The two aren’t related. Thunder horse, which at the time of discovery was estimated to be 1 billion barrels and covered portions of 4 OCS blocks. One OCS block is 3 miles on a side and contains 5760 acres. I worked for a company that had a lease directly adjacent to one of those Thunder Horse blocks, less than 2 miles from a productive well and it was never drilled. Not because the company was stupid or didn’t have good geologists or seismic data, it wasn’t drilled because the data showed it wasn’t prospective at the same levels as Thunder Horse.

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