12-27-2011, 10:01 PM
Thanks, Sam.
ATP is also branching out into exploration in the areas off-shore from Israel. Those interested can best view the latest presentation on ATP's website.
In addition, ATP has a 8% convertible perpetual preferred issue that presents a very compelling more conservative method of investing. The symbol is ATPGP and I've written on it on IV -- link to latest: http://www.investorvillage.com/smbd.asp?mb=2831&mn=3480&pt=msg&mid=11276028
Purchasing the preferred is tricky, so you have to "work" to keep from getting killed on the spread.
The current premium to conversion (ATP @ $7.26; ATPGP @ $34) is only 2.69%. If you can get the preferred at $34, you get paid a whopping 23.53%, and cover the premium in less than one quarterly dividend payment, while you wait for the company to become cash flow positive.
The key is to buy "right" and just hold. This issue is not a trading vehicle, as the liquidity is basically non-existent.
ValueSleuth
ATP is also branching out into exploration in the areas off-shore from Israel. Those interested can best view the latest presentation on ATP's website.
In addition, ATP has a 8% convertible perpetual preferred issue that presents a very compelling more conservative method of investing. The symbol is ATPGP and I've written on it on IV -- link to latest: http://www.investorvillage.com/smbd.asp?mb=2831&mn=3480&pt=msg&mid=11276028
Purchasing the preferred is tricky, so you have to "work" to keep from getting killed on the spread.
The current premium to conversion (ATP @ $7.26; ATPGP @ $34) is only 2.69%. If you can get the preferred at $34, you get paid a whopping 23.53%, and cover the premium in less than one quarterly dividend payment, while you wait for the company to become cash flow positive.
The key is to buy "right" and just hold. This issue is not a trading vehicle, as the liquidity is basically non-existent.
ValueSleuth