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ATP OİL & GAS AO Message Board

  • caseyweb caseyweb Jul 26, 2012 9:18 PM Flag

    I talked to IR today. They are working on deal(s) to help liquidity shortfall.

    Won't say anything about what or when.
    Still very busy tring to talk to shareholders
    Will not make any pr until something done
    Shorts are having a fields ay with stock and are winning the war
    Management still owns over 10% of stock. Got to think they are trying to salvage what they can.


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    • talked to Investor Relations Yesterday? Today? Two days in a row?

      BS you Clown

    • I have been calling IR for 2 weeks now. No call back. I have tried speaking to Tom Cassera in IR and I even tried to speak to Al Reese. Today the operator or secretary took my information and said she was goong to "email Al Reese and have him call me back"...still no response.

    • Caseweb... who in IR did you talk to? And did they call you back? If yes how long did they take? Your response is greatly appreciated..

    • Management has been behind closed doors conjuring up some magic solution for years instead of doing what really needed to be done. T. Paul Is probably sitting in one of his horse stalls right now asking one of his stallions what he should do and when the real $60 value of this stock will finally be realized. To me, it's a shame that this group of retards managed to get get in these positions. I personally could have hired a monkey to use the resources and assets that this management team has had and keep the co. from getting anywhere close to bankruptcy.

      • 1 Reply to swoldier111
      • I just want t. Paul, leland, and the crew to come out one more time on a cc and repeat "now look, we have no idea why our stock is trading in this low range. Clearly based on enterprise value we should be around $50-60 a share and believe we will be there shortly." just for old times sake, or maybe bc that is what they actually still believe.

    • Can you talk with them and say we really need some broadcast to allevaite unfounded fears?
      The stock dropped after hrs to $1.50 on no news.

      • 3 Replies to tmkay
      • ATPG is a classic case where the choice of bankruptcy or not is purely up to the management. Unfortunately, shareholders continually badgering management can be counterproductive since elimination of shareholders is one of the adavantages of bankruptcy which bankruptcy attorneys always point out. The best thing ATPG has going for it is the relatively high % of shres owned by manaagement.

        I have always wondered why shareholders in distressed companies do not organize and vote for "anti-bankruptcy" changes to corporate charters. Of course, in some cases bankruptcy is unavoidable. However, in many cases corporate management seeks bankruptcy because that is what is best for them personally. With distressed situations if the management seeks bankruptcy the shareholders are wiped-out, Alternatively if they try an out-of-court restructuring, such as with YRCW the current shareholders still retain something.

        The problem is that "...Many managements, for example that of many airlines and steel companies, treat chapter 11 as a “spa” where they can rid themselves of pesky union contracts, common shareholders, creditors and leases while senior management basks in retention bonuses while plotting to maximize their take in new stock when the company emerges from chapter 11 or their personal rewards when the bankrupt company sells assets to vulture investors at unfair prices. (See Polaroid and Bethlehem Steel for egregious examples.)..."

        If shareholders would pass changes in corporate charters which, banned retention bonuses in the event of bankruptcy, and called for severe reductions in the compensation of senior management in the event of bankruptcy, the shareholders would greatly improve the odds that companies that were on the cusp of bankruptcy would go the extra mile to avoid bankruptcy.

      • the fears aren't unfounded. what do you want, some stock welfare? we really really need some help here. You're not going to get it. snap out of it

      • Why don't you call them yourself and see what they have to say.

        It is important for them to hear from as many shareholders as possible and maybe they will feel the pressure to issue a PR.

    • People will hear soon enough when they wake up to huge up move at some point and all these shorts winnings and huge amounts of money that has been made is wiped out and turned into loses. I have seen stocks do this and then jump so high shorts could not even get out fast enough and shares were not available due to buyers { big money buyers } and shorts trying to cover their position. Anything can happen at this price.

    • So who did you talk to? Spokewoman?