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Gold/Mining/Energy : ATPG Shareholders

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To: silkscreen12 who wrote (3516)	10/22/2013 10:06:16 PM
From: Kramer38	2 Recommendations Recommended By everett2 greatpricepearl Read Replies (2) of 3620

Agreed. Clipper is a decent property, but it's production life is around 5 years with a decline curve of about 10% per year. It becomes un-economic at about 500 bopd. GC 344, which is called the Cutter prospect is about 9MBOE, is directly adjacent to Clipper and has a 60% chance of success. This could extend the life of the Clipper field for another 4 years or so. Telemark, in my opinion, is a very complex, highly faulted field that will ultimately frustrate the owners because of the numerous wells required to produce the reserves. I predict that one or two more wells will confirm this and the field will be abandoned as un-economic. If Bennu is going to survive, they will have to find some significant reserves very quickly which means taking more exploratory risk than ATP did. With the capitalization that Bennu can attract, they will be limited to the smaller stakes plays in the Deepwater GOM. It can be done, but they will have to be very good and very lucky. I wouldn't bet on it.

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