Author Topic: ATPG - ATP Oil and Gas  (Read 63674 times)

Myth465

  • Lifetime Member
  • Hero Member
  • *****
  • Posts: 3668
Re: ATPG - ATP Oil and Gas
« Reply #20 on: December 30, 2010, 09:41:09 AM »
Thanks for the updates Swizzled. You have, or will have made me quite a bit of money  ;).

I am thinking of buying another set of leaps. Figure we are days away from a revaluation. Every other time I have been wrong though. What are your thoughts?


Swizzled

  • Lifetime Member
  • Full Member
  • *****
  • Posts: 121
    • CVI
Re: ATPG - ATP Oil and Gas
« Reply #21 on: January 03, 2011, 05:07:24 AM »
"I am thinking of buying another set of leaps. Figure we are days away from a revaluation. Every other time I have been wrong though. What are your thoughts?"

My thoughts are that I'm exactly with you.  I can't believe the share price isn't higher after the Titan deal, the huge production from Mirage and $92 oil so I'll refrain from predicting a near term stock price move.

All I know is that for the past 2 years I wasn't sure where the next $100 million was coming from and that is when the Telemark infrastructure wasn't complete.  Now all the infrastructure spending is done AND they have $500mil to $800mil in liquidity.

The stock market hasn't figured it out yet, but this company is in much better shape than they were pre Macondo when the stock price was $23.

Alekbaylee

  • Lifetime Member
  • Sr. Member
  • *****
  • Posts: 466
Re: ATPG - ATP Oil and Gas
« Reply #22 on: January 03, 2011, 11:18:18 AM »
Don't know this "Investment Research Co", but this may explain today's pull back :

Equities research analysts at Zacks Investment Research reiterated an “underperform” rating on shares of ATP Oil & Gas Co. (NASDAQ: ATPG) in a research note to clients and investors on Tuesday.

http://www.americanbankingnews.com/2011/01/03/atp-oil-gas-co-nasdaq-atpg-given-underperform-rating-by-zacks-investment-research-analysts/

Don't have any position. Just looking for now.

Myth465

  • Lifetime Member
  • Hero Member
  • *****
  • Posts: 3668
Re: ATPG - ATP Oil and Gas
« Reply #23 on: January 03, 2011, 11:59:14 AM »
Sucks we were down 1% and I wanted to buy some leaps. Went to lunch, came back and we are up 2%. I bought some $20 leaps. Looks like we are almost there.

Thinking of buying more now. Not sure if this applies to the Tele wells, but it seems like we are closer and closer to having this put behind us. Amazing that ATPG has not participated in the oil rally at all.

http://www.boemre.gov/ooc/press/2011/press0103a.htm
« Last Edit: January 03, 2011, 12:21:13 PM by Myth465 »

gordoffh

  • Full Member
  • ***
  • Posts: 200
Re: ATPG - ATP Oil and Gas
« Reply #24 on: January 03, 2011, 01:59:22 PM »
my thanks also swizzled - have been buying heavily into SD and after reading the thread and a little investigation bought in today prior to the news - up in after hours also

Myth465

  • Lifetime Member
  • Hero Member
  • *****
  • Posts: 3668
Re: ATPG - ATP Oil and Gas
« Reply #25 on: January 03, 2011, 02:45:32 PM »
Its crazy. ATPG has been my main oil and gas focus, but SD is quietly up a huge amount given that I own the Leaps. We have permits with ATPG and asset sells with SD.

Life is good.

Just have to figure out when and where to take chips off the table. Right now I am considering selling ESV leaps as a way to move a bit out of oil and gas.

Myth465

  • Lifetime Member
  • Hero Member
  • *****
  • Posts: 3668
Re: ATPG - ATP Oil and Gas
« Reply #26 on: January 04, 2011, 06:33:01 AM »
http://comedymeltdown.com/wp-content/uploads/2009/05/borat_great_success-450x337.jpg

Up  7%. Kind of sad. My money was in the wrong accounts, and I wish I bought more yesterday. I may buy today. Hopefully this one has legs and sticks around.

http://www.google.com/finance?q=NASDAQ:ATPG

When do you think we will get clarification on what the hell the press release means?
« Last Edit: January 04, 2011, 07:23:59 AM by Myth465 »

sdev

  • Lifetime Member
  • Full Member
  • *****
  • Posts: 149
Re: ATPG - ATP Oil and Gas
« Reply #27 on: January 04, 2011, 07:27:22 AM »
Myth,

Don't let the price bump make you emotional. You own a lot of it, and even more as of yesterday. More fat pitches will come through, they always do. Also, the way the market views this stock, it's definitely not unimaginable that it dips again and you're able to complete what you wanted.

Swizzled

  • Lifetime Member
  • Full Member
  • *****
  • Posts: 121
    • CVI
Re: ATPG - ATP Oil and Gas
« Reply #28 on: January 04, 2011, 07:29:36 AM »

"When do you think we will get clarification on what the hell the press release means"

I'm not too worried about the press release.  I think the fact that they are letting companies go back to drilling exploration wells is all that matters.  If they are doing that then permits for development wells (which is all that ATP has) will come soon enough.

I've had a long bumpy ride on this one.  I'm ready to be rewarded with a higher stock price.

Myth465

  • Lifetime Member
  • Hero Member
  • *****
  • Posts: 3668
Re: ATPG - ATP Oil and Gas
« Reply #29 on: January 04, 2011, 07:37:32 AM »
Myth,

Don't let the price bump make you emotional. You own a lot of it, and even more as of yesterday. More fat pitches will come through, they always do. Also, the way the market views this stock, it's definitely not unimaginable that it dips again and you're able to complete what you wanted.

Thanks for the analysis Swizzed.

Sdev you have a point ATPG has a way of disappointing every single time. I cant imagine what its like for those that were in prior to Horizon. Its been a 2-3 year struggle. For me its been about 7 months watching and 5 months owning and its a nerve racking deal. Its tough not to push in more because the same happened with my biggest winner to date ATSG. At some point most of the material risks were gone and the fog had cleared. You could have pushed in at $2 and sold at $8 without any of the drama of those who owned in 2008. I think we are getting close to there now, and will be there once the permits are in hand. With that said, I agree with you and will wait a bit because we will likely trade down at some point.

The goal for me is to sell off my basis at some point and let the rest ride, maybe exercise my options towards 2012 and make this my primary oil play. I think they can get $60 or so for the assets if they stop playing so close to the fire and become boring old operators.