Below snippet is ref. which makes it a buyout candidate.
CEO/CFO should think (or) sink with 2012 Cash to be of oil prices
Leaseholds are in areas with large proven reserves. Octabuoy, Titan and Innovator are special drilling rigs with lots of market value. Israel and Cheviot are not figured in at all yet. Worst possible scenario that plays out is that ATPG gets bought out at a significant price based on reserve estimates. That probably makes any current holder some money.