Most likely huge panic selling on Tues. Should ATP request a halt in trading.
What is likely to happen to this stock? Seems unfair that BP is down 20% and ATP down about 60%.
What now for ATPG with failure of Top Kill??
Re: What now for ATPG with failure of Top Kill??
I don't see that BP's failure with the Top Kill idea has anymore impact on ATPG but that doesn't mean the market won't react to it.
Keep this in mind. The oil & gas that was all set to be tied into Telemark and Canyon Express hasn't gone anywhere. The real value of an E&P company is the reserves it has in the ground. ATPG has sufficient access to capital and strong cash flows to weather this storm.
The big question for ATPG is will the MMS allow them to complete the MC 941 #3 well?
I will discuss this in more detail in Tuesday's Newsletter.
Dan
Keep this in mind. The oil & gas that was all set to be tied into Telemark and Canyon Express hasn't gone anywhere. The real value of an E&P company is the reserves it has in the ground. ATPG has sufficient access to capital and strong cash flows to weather this storm.
The big question for ATPG is will the MMS allow them to complete the MC 941 #3 well?
I will discuss this in more detail in Tuesday's Newsletter.
Dan
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group