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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (35849)	11/6/2009 2:08:51 PM
From: CusterInvestor	Read Replies (1) \| Respond to of 78750

ATPG If I heard them correctly, management said to expect an increasing emphasis on oil going forward (currently 56%). Part of the reason for lower revenues last q was intentionally reducing gas sales due to low prices. If anyone listens to replay I would appreciate their take on it--lots of info. ATP Oil & Gas Earnings Conference Call (Q3 2009) Thu, Nov 5, 2009, 12:00 pm Eastern Listen to the archived event audio biz.yahoo.com

To: Paul Senior who wrote (35849)	11/6/2009 3:53:20 PM
From: Spekulatius	Read Replies (1) \| Respond to of 78750

ATPG - given that this is your largest position, have you confidence in management NAV estimates? I would do at least a "back of the envelope" calculation of the NAV based on similar other companies or such. ATPG management had similar things going on a few years ago, i believe with North Sea oil fields. They have blown it back then, so i have little confidence in them (or has management changed since then), but if I would gather some independent validation of their NAV, i'd be willing to make a wagger as well. Maybe $/barrel of oil based on proved reserves would be a decent number. Maybe, i look around a bit myself. that aside the chart looks like it may fill huge gap down to about 12$. Makes me leary too, even though i am not a chartist.