Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : ATPG Shareholders -- Ignore unavailable to you. Want to Upgrade?

To: Area51 who wrote (230)	8/30/2012 10:22:03 PM
From: billgatesisevil	1 Recommendation Read Replies (2) \| Respond to of 3620

That 8K info came out of left field. It is not consistent with the 10Ks and Qs or their presentations. I would like to wrestle with stuff some more. Even if the current common gets something, the second lien is going to get converted to newco shares. The chances of ATPG rolling that debt in 2015 in its entirety are little and none. I do not expect an exit here for 18 months. Some of us are wrestling on another board about the valuation of the PV-10 and other stuff. One concern is that the need for greater capital above and beyond what the DIP has provided is of great concern. Also the little things like the Feds wanting ATPG to post A&P bonds now for their GOM stuff. At 10% of the total bond value, they are going to have to come up with 7 MM someplace. Filing today over this and the potential malfeasance of the DIP lenders and ATPG in not disclosing this at the "first day" stuff. The letter was dated 8/17, so they should have had it in hand to present. In any case, it is material to the case. On the docket for next week. As far as the second lien bonds go, I have my position and will not add. If they drop to 20, I am out. Somebody has found a cockroach source. Today's trading was light. 83 transactions, a lot dealer->dealer that do not count. I bought in one of my taxable accounts and I traced 3 transactions that occurred over it. 2 dealer->dealer and 1 dealer-> me. Right before Labor day is not the most liquid of markets anywhere.