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

To: BuckeyeOil who wrote (2968)	4/16/2013 3:27:21 PM
From: tmkay	1 Recommendation Read Replies (1) \| Respond to of 3620

Thanks BuckeyeOil. I believe what you say is true from simple reasoning. What court would kill the main income stream of a bankrupt company if the main goal of bankruptcy court is NOT to play off the creditors but to bring the business back to positive operating status. The courts purpose is to PROTECT the business FROM creditors while the business can redeem itself. Redemption seems to be a far-fetched term here for ATPG unless shareholders understand that ATPG really didnt want to go into bankruptcy but would have liked to have Clipper producing "well before" (pun intended) they got into financial difficulty. IMO

To: BuckeyeOil who wrote (2968)	4/16/2013 6:48:59 PM
From: Kramer38	5 Recommendations Read Replies (2) \| Respond to of 3620

Sorry to burst your bubble, but when the court said all of ATP's shelf and deepwater assets, they meant exactly that. This issue was settled back in February. Here is the court order. Order (A) Approving (i) Bidding Procedures; (ii) Bid Protections; (iii) Auction Procedures; and (iv) Assumption and Assignment Procedures; (B) Approving Notice Procedures for (i) the Solicitation of Bids; and (ii) an Auction; (C) Scheduling Hearings on Approval of a Sale or Sales of Substantially All of the Debtor's Deepwater Property Assets; and (D) Granting Related Relief In the motion ATP filed when requesting this approval, it said in requesting the court to enter a Sale Order, "Authorizing and approving the sale of substantially all of the Debtors remaining assets and related assets and the Purchased Equity (collectively the "Deepwater Assets")." All of ATP's producing properties, non-producing leases, platforms, pipelines executory contracts etc, are all on the auction block to be held April 23. I can attest to this because I received the order and have a hard copy of the exhibits. The only way ATP will hold on to Clipper or any other asset is if nobody bids on the asset or the court decides the bids are not acceptable.