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

To: Kramer38 who wrote (3122)	5/7/2013 9:08:06 PM
From: Billy Bilgewasser	1 Recommendation Read Replies (2) \| Respond to of 3620

Thanks, Kramer. I was tracking with your regrettably dismal analysis until you wrote, "They still have the North Sea stuff and Israel assets as well as any claims against BP and cash flow from Clipper, without all the debt and some/all of the term ORRI/NPI . . . ." Who's "they"? According to the term sheet, the GOM assets go into a new entity owned by CS, the new-money B-class members, and the 10% no-money management C-class members. Right? Presumably that management will be drawn from the ranks of ATP GOM staffers. But the debtor continues to own the North Sea and Eastern Med properties and continues subject to the claims of creditors, possible converting to a Chapter 7 liquidation with the 2nd lien owners in first position. If that's the case, it isn't clear what the debtor does to provide liquidity. This all under the assumption that the sale is approved as described in today's asset sale filing. It's all opaque to me. Just trying to figure out the reality.