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Gold/Mining/Energy : ATPG Shareholders
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To: Billy Bilgewasser who wrote (3481)9/7/2013 6:14:38 PM
From: Kramer384 Recommendations

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Billy Bilgewasser
greatpricepearl
positiveenergy18
rickhammer

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It's pretty simple, a final order approving the sale of selected assets will most likely be approved by the end of the month, and along with it nearly all of the cash flow. The proceeds go to pay those first in line, namely the DIP. The few assets not being sold have a negative value when you factor in the P&A obligations so there really isn't anything to sell. The buyer, presumably staffed by primarily former ATP personnel, will run the company and operate the assets.

I think you are mistaken that ATP had a big month in July. The vast majority of the production that they make from Clipper and Telemark for example is being paid to the royalty and ORRI/NPI owners, just as the judge ordered them to do. ATP is broke, nobody but the DIP wanted their assets. They owe the DIP more money than the asset sale will generate. It's over.
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