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Wish they wouldn't have misspelled "breathe" in the title.
No problem! His accusations were unwarranted and it pissed me off. Thanks for being on top of the news feed! :)
I never said it was positive. I was sticking up for Bayou Man because you accused him of trying to confuse investors and get them to sell. I responded with the fact that he stated that he believes this news is positive. There ya go.
Your spelling confuses me. All he did was post the news that he saw... He even said it appears to be positive to him. Don't attack the messenger.
Call or email your friend and ask him what the hell he is talking about.
This is why Lillis resigned....
FUNDS CRY FOUL OVER WAMU VOTE
By KAJA WHITEHOUSE
April 24, 2008
Irate Washington Mutual shareholders are stepping up their pressure on the bank to conduct a recount of last week's board of director elections.
Letters are pouring in to WaMu Chairman Kerry Killinger and other board members, saying they suspect some of the company's directors - in particular Charles Lillis and James Stever - didn't deserve to be re-appointed last week.
At issue are rules allowing brokerage firms to cast votes in director elections on behalf of their investors. "Broker votes," as they are called, have long been criticized as a legalized form of ballot stuffing because they are typically cast automatically in favor of the board, and they can swing the results by 20 percent or more.
Stever got 57.7 percent votes in favor of his re-election, while Lillis got 59.2 percent, according to the official tally. But shareholders contesting the results say that after discounting for broker votes, Stever received closer to 49 percent of votes, while Lillis received just 48 percent - short of the majority needed for them to retain their board seats.
Among those crying foul are pension funds from California, Florida, New Jersey and North Carolina, including the granddaddy of all pension funds, the $255 billion California Public Employees Retirement System and the $80 billion New Jersey Division of Investment.
Several union pension funds are leading the charge, and the Council of Institutional Investors, which represents 140 public, private and union pension funds, is also drafting a letter on this issue, to be released today.
"I am writing to request that you release detailed voting results from the director elections and that you demand the resignation of any directors that did not receive majority votes," reads a letter from North Carolina State Treasurer Richard Moore, who oversees $77 billion in pension money, which calls out Lillis and Stever.
Officials at WaMu didn't immediately respond to a request for comment.
Shareholders sending letters to WaMu are also stepping up pressure on the Securities and Exchange Commission, after the agency pushed back plans proposed by NYSE Euronext to abolish broker votes starting in January.
A similar fight was waged last year at CVS Caremark Corp., and led to the resignation of director Roger L. Headrick several months after he was officially re-appointed to the board.
This is why Lillis resigned....
FUNDS CRY FOUL OVER WAMU VOTE
By KAJA WHITEHOUSE
April 24, 2008
Irate Washington Mutual shareholders are stepping up their pressure on the bank to conduct a recount of last week's board of director elections.
Letters are pouring in to WaMu Chairman Kerry Killinger and other board members, saying they suspect some of the company's directors - in particular Charles Lillis and James Stever - didn't deserve to be re-appointed last week.
At issue are rules allowing brokerage firms to cast votes in director elections on behalf of their investors. "Broker votes," as they are called, have long been criticized as a legalized form of ballot stuffing because they are typically cast automatically in favor of the board, and they can swing the results by 20 percent or more.
Stever got 57.7 percent votes in favor of his re-election, while Lillis got 59.2 percent, according to the official tally. But shareholders contesting the results say that after discounting for broker votes, Stever received closer to 49 percent of votes, while Lillis received just 48 percent - short of the majority needed for them to retain their board seats.
Among those crying foul are pension funds from California, Florida, New Jersey and North Carolina, including the granddaddy of all pension funds, the $255 billion California Public Employees Retirement System and the $80 billion New Jersey Division of Investment.
Several union pension funds are leading the charge, and the Council of Institutional Investors, which represents 140 public, private and union pension funds, is also drafting a letter on this issue, to be released today.
"I am writing to request that you release detailed voting results from the director elections and that you demand the resignation of any directors that did not receive majority votes," reads a letter from North Carolina State Treasurer Richard Moore, who oversees $77 billion in pension money, which calls out Lillis and Stever.
Officials at WaMu didn't immediately respond to a request for comment.
Shareholders sending letters to WaMu are also stepping up pressure on the Securities and Exchange Commission, after the agency pushed back plans proposed by NYSE Euronext to abolish broker votes starting in January.
A similar fight was waged last year at CVS Caremark Corp., and led to the resignation of director Roger L. Headrick several months after he was officially re-appointed to the board.
New Alvarez billings posted on KCC
http://www.kccllc.net/documents/0812229/0812229090526000000000003.pdf
All copied from the yahoo board:
PDF page 8
4/8/2009
Recovery analysis review and followup, Call Fried Frank Credit group. Development of global settlement term sheet.
PDF page 8
4/29/2009
Call with FTI/Akin on subsidairy unwind process. Review of settlement issues.
Pg 12. 4/30/09 Bottom line,
"Subsidiary Phase II unwind final meeting; CSFB(maybe Credit Suisse First Boston) $2M preferred equity purchase agreement review."
Pg 52
Review of settlemtn agreement materials.
Your opinion... on what most people's opinions are. That's so useful. Thank you so much.
Being discussed on the yahoo board that this could be a media precursor to a settlement to WMI... so FDIC/JPM don't look as suspicious for giving WMI a crapton of money.
I can't wait to hear the word "halt."
With a huge settlement, won't it still be revealed that the FDIC really screwed up? Would the settlement just help to avoid any further legal action against those who were responsible?
228 yeas
23 nays
with 3 min left
GONNA BE A CLOSE ONE
.007 buddy, which equals 6.36%
Volume pickin up in the last 5 minutes
That works! Thanks
Neither of those links works
Makes perfect sense to me...
Doubled up at .11
ATPG - ATP Announces Record Net Income, Revenues and Asset Sales
March 2, 2009 3:16 AM ET
In 2008, ATP Oil & Gas Corporation ATPG achieved record net income and revenues, replaced 214% of its oil and gas production, and received $472 million in cash proceeds from asset sales. Additionally, last Friday ATP and GE Energy Financial Services jointly announced a new infrastructure partnership. The partnership will include the ATP Innovator, the floating production platform servicing ATP’s deepwater Gomez Hub. This transaction does not include any oil and gas reserves, and ATP continues to operate and hold a 100% working interest in the Gomez field.
Highlights include:
Record annual net income of $122 million or $3.43 per basic and $3.39 per diluted share with record annual revenues of $618 million Total additions to reserves from all sources of 20 MMBoe (123 Bcfe), contributing to a production replacement ratio of 214% Asset sales of $472 million, representing 11 MMBoe and resulting in a 2008 gain on sale of $119 million with an additional $59 million of deferred revenue to be recognized in the future Results of Operations
ATP recorded net income of $122 million or $3.43 per basic and $3.39 per diluted share for 2008, compared to net income of $49 million or $1.58 per basic and $1.55 per diluted share for 2007. ATP recorded net income of $50 million or $1.41 per basic and diluted share for the fourth quarter of 2008, compared to net income of $13 million or $0.39 per basic and $0.38 per diluted share for the fourth quarter of 2007.
Total revenues were $618 million for 2008 and $81 million for the fourth quarter of 2008, compared to $608 million for 2007 and $213 million for the fourth quarter of 2007. Production and realized prices, which account for the oil and gas revenues portion of total revenues for 2008 and 2007, are included in the Selected Operating Statistics table within this release.
Oil and gas production totaled 10 MMBoe (57 Bcfe) for 2008 and 1 MMBoe (5 Bcfe) for the fourth quarter of 2008, compared to 11 MMBoe (64 Bcfe) for 2007 and 3 MMBoe (20 Bcfe) for the fourth quarter of 2007. Production in 2008 from August through December was impacted by 2 MMBoe (10 Bcfe) due to hurricane related damage to third-party downstream pipelines, which caused reserves from the third and fourth quarters to be deferred to future periods. Lease operating expenses were impacted on a per unit basis in the fourth quarter of 2008 due to decreased production volumes and additional hurricane related costs in the Gulf of Mexico. As of March 2, 2009, one Gulf of Mexico shelf property remains shut-in since the hurricane, but is expected to return to production once third-party infrastructure repairs are completed.
ATP's selected operating statistics and financial information below contain additional information on the company’s activities for the year and fourth quarter of 2008 and the comparable periods in 2007.
http://news.moneycentral.msn.com/ticker/article.aspx?Feed=BW&Date=20090302&ID=9654334&Symbol=ATPG
ATPG - ATP Announces Record Net Income, Revenues and Asset Sales
March 2, 2009 3:16 AM ET
In 2008, ATP Oil & Gas Corporation ATPG achieved record net income and revenues, replaced 214% of its oil and gas production, and received $472 million in cash proceeds from asset sales. Additionally, last Friday ATP and GE Energy Financial Services jointly announced a new infrastructure partnership. The partnership will include the ATP Innovator, the floating production platform servicing ATP’s deepwater Gomez Hub. This transaction does not include any oil and gas reserves, and ATP continues to operate and hold a 100% working interest in the Gomez field.
Highlights include:
Record annual net income of $122 million or $3.43 per basic and $3.39 per diluted share with record annual revenues of $618 million Total additions to reserves from all sources of 20 MMBoe (123 Bcfe), contributing to a production replacement ratio of 214% Asset sales of $472 million, representing 11 MMBoe and resulting in a 2008 gain on sale of $119 million with an additional $59 million of deferred revenue to be recognized in the future Results of Operations
ATP recorded net income of $122 million or $3.43 per basic and $3.39 per diluted share for 2008, compared to net income of $49 million or $1.58 per basic and $1.55 per diluted share for 2007. ATP recorded net income of $50 million or $1.41 per basic and diluted share for the fourth quarter of 2008, compared to net income of $13 million or $0.39 per basic and $0.38 per diluted share for the fourth quarter of 2007.
Total revenues were $618 million for 2008 and $81 million for the fourth quarter of 2008, compared to $608 million for 2007 and $213 million for the fourth quarter of 2007. Production and realized prices, which account for the oil and gas revenues portion of total revenues for 2008 and 2007, are included in the Selected Operating Statistics table within this release.
Oil and gas production totaled 10 MMBoe (57 Bcfe) for 2008 and 1 MMBoe (5 Bcfe) for the fourth quarter of 2008, compared to 11 MMBoe (64 Bcfe) for 2007 and 3 MMBoe (20 Bcfe) for the fourth quarter of 2007. Production in 2008 from August through December was impacted by 2 MMBoe (10 Bcfe) due to hurricane related damage to third-party downstream pipelines, which caused reserves from the third and fourth quarters to be deferred to future periods. Lease operating expenses were impacted on a per unit basis in the fourth quarter of 2008 due to decreased production volumes and additional hurricane related costs in the Gulf of Mexico. As of March 2, 2009, one Gulf of Mexico shelf property remains shut-in since the hurricane, but is expected to return to production once third-party infrastructure repairs are completed.
ATP's selected operating statistics and financial information below contain additional information on the company’s activities for the year and fourth quarter of 2008 and the comparable periods in 2007.
http://news.moneycentral.msn.com/ticker/article.aspx?Feed=BW&Date=20090302&ID=9654334&Symbol=ATPG
ATP Announces Record Net Income, Revenues and Asset Sales
March 2, 2009 3:16 AM ET
In 2008, ATP Oil & Gas Corporation ATPG achieved record net income and revenues, replaced 214% of its oil and gas production, and received $472 million in cash proceeds from asset sales. Additionally, last Friday ATP and GE Energy Financial Services jointly announced a new infrastructure partnership. The partnership will include the ATP Innovator, the floating production platform servicing ATP’s deepwater Gomez Hub. This transaction does not include any oil and gas reserves, and ATP continues to operate and hold a 100% working interest in the Gomez field.
Highlights include:
Record annual net income of $122 million or $3.43 per basic and $3.39 per diluted share with record annual revenues of $618 million Total additions to reserves from all sources of 20 MMBoe (123 Bcfe), contributing to a production replacement ratio of 214% Asset sales of $472 million, representing 11 MMBoe and resulting in a 2008 gain on sale of $119 million with an additional $59 million of deferred revenue to be recognized in the future Results of Operations
ATP recorded net income of $122 million or $3.43 per basic and $3.39 per diluted share for 2008, compared to net income of $49 million or $1.58 per basic and $1.55 per diluted share for 2007. ATP recorded net income of $50 million or $1.41 per basic and diluted share for the fourth quarter of 2008, compared to net income of $13 million or $0.39 per basic and $0.38 per diluted share for the fourth quarter of 2007.
Total revenues were $618 million for 2008 and $81 million for the fourth quarter of 2008, compared to $608 million for 2007 and $213 million for the fourth quarter of 2007. Production and realized prices, which account for the oil and gas revenues portion of total revenues for 2008 and 2007, are included in the Selected Operating Statistics table within this release.
Oil and gas production totaled 10 MMBoe (57 Bcfe) for 2008 and 1 MMBoe (5 Bcfe) for the fourth quarter of 2008, compared to 11 MMBoe (64 Bcfe) for 2007 and 3 MMBoe (20 Bcfe) for the fourth quarter of 2007. Production in 2008 from August through December was impacted by 2 MMBoe (10 Bcfe) due to hurricane related damage to third-party downstream pipelines, which caused reserves from the third and fourth quarters to be deferred to future periods. Lease operating expenses were impacted on a per unit basis in the fourth quarter of 2008 due to decreased production volumes and additional hurricane related costs in the Gulf of Mexico. As of March 2, 2009, one Gulf of Mexico shelf property remains shut-in since the hurricane, but is expected to return to production once third-party infrastructure repairs are completed.
ATP's selected operating statistics and financial information below contain additional information on the company’s activities for the year and fourth quarter of 2008 and the comparable periods in 2007.
http://news.moneycentral.msn.com/ticker/article.aspx?Feed=BW&Date=20090302&ID=9654334&Symbol=ATPG
I know what you mean. I have shares and it feels like a great stock... but my excitement is reserved because our economy is a piece of crap and doesn't seem to be going in the right direction...
GE: Sticking With That Old-Energy Religion
Posted by Keith Johnson
Just because President Obama’s budget takes aim at the oil patch doesn’t mean big companies are fleeing it altogether. Take General Electric, which Friday morning announced a total of $276 million in U.S. oil and gas investments.
Angling for old energy (AP)
That includes $150 million in partnership with Houston-based ATP Oil & Gas Corporation to operate a floating oil and gas rig in the Gulf of Mexico, GE Energy Finance’s “first finvestment in a floating oil and gas production facility.” It also includes $126 million to help Regency Energy Partners complete an expansion of a natural-gas pipeline for the Haynesville Shale in Lousiana.
GE’s Ecomagination unit gets plenty of attention for its push into “green energy,” and the conglomerate is the biggest U.S. maker of wind turbines. It’s also leading the charge into new energy technology like the smart grid. But old energy is just as important for GE, from U.S. oil and gas production to oil-fired power plants in Saudi Arabia.
GE’s rationale for the pipeline investment—at a time when U.S. natural-gas supplies are hardly constrained—underscores the company’s embrace of an all-of-the-above energy policy, whatever the policy direction of the Obama budget.
“[T]his project will improve the overall energy security and independence of the United States by alleviating a transportation bottleneck experienced by many producers in the Haynesville area,” said Dan Castagnola, managing director at GE Energy Financial Services.
http://blogs.wsj.com/environmentalcapital/2009/02/27/ge-sticking-with-that-old-energy-religion/?mod=msn_money_ticker
GE Energy Financial Services partners with ATP
February 27, 2009 1:58 PM ET advertisement
HOUSTON(AP) - GE Energy Financial Services, a unit of General Electric Co., on Friday said it is investing $150 million in a partnership with Houston-based ATP Oil & Gas Corp., which will own and operate a floating oil and gas production unit in the deep water Gulf of Mexico.
GE Energy Financial Services' investment will give it a 49 percent limited partnership stake, its first investment in a floating oil and gas production facility. ATP Oil & Gas will hold the remaining 51 percent stake and will serve as managing partner.
The unit, named ATP Innovator, covers the area the size of a football field 80 miles south of New Orleans in the Gulf of Mexico. It processes up to 20,000 barrels of oil per day and 100 million cubic feet per day of natural gas, which it supplies to the U.S. market.
Shares of GE slid 40 cents, or 4.4 percent, to $8.70 in Friday afternoon trading. ATP Oil & Gas shares jumped 63 cents, or 20 percent, to $3.75.
http://news.moneycentral.msn.com/ticker/article.aspx?Feed=AP&Date=20090227&ID=9652377&Symbol=ATPG
ATPG - There is a conference call Monday afternoon. Earnings are announced Monday morning premarket. Should be a very interesting week.
OT: Haha "ATM Machine" - Automated Teller Machine Machine :)
GE to Invest $150 Million in Partnership with ATP for Domestic Oil and Gas Production Unit in Gulf of MexicoFebruary 27, 2009 8:30 AM ET advertisement
GE Energy Financial Services, a unit of GE, has agreed to invest $150 million in a partnership with Houston-based ATP Oil & Gas Corporation ATPG which will own and operate a floating oil and gas production unit in deepwater Gulf of Mexico. Subject to completion of customary closing conditions, GE Energy Financial Services will invest $150 million for a 49 percent limited partnership stake, its first investment in a floating oil and gas production facility. ATP Oil & Gas Corporation will hold the remaining 51 percent stake and will serve as managing partner.
Covering an area the size of a football field 80 miles south of New Orleans in the Gulf of Mexico, the unit, ATP Innovator, processes up to 20,000 barrels of oil per day and 100 million cubic feet per day of natural gas for supply via pipeline to the US market. The unit has been in operation since March 2006 and produces ATP reserves. The partnership plans to process additional reserves from a third party producer by 2010.
“Our partnership with GE Energy Financial Services, especially in today’s troubled economic times, will ensure continued production of much-needed domestic oil and natural gas, and will allow ATP to maintain our development program,” said T. Paul Bulmahn, Chairman and CEO of ATP. “We depend on investors like GE, which has the financial strength, energy expertise and long-term vision necessary for an investment of this magnitude.”
ATP purchased and converted the unit from a drilling semi-submersible rig into a floating production facility in 2005. As a converted unit with existing platform infrastructure and pipeline access, the ATP Innovator offers the most cost-effective way to process reserves in this area of the Gulf. As a deepwater unit, the ATP Innovator is able to process increasingly abundant oil and gas from deepwater sources and can be moved to process oil and gas from new fields. Since ATP’s inception in 1991, the company has turned 98 percent of its undeveloped, non-producing properties into producing oil and gas reserves.
“The combination of ATP’s demonstrated operational capabilities, GE Energy Financial Services’ energy expertise and capital, and the production unit’s strategic location makes this a strong partnership, well positioned for growth,” said James F. Burgoyne, Managing Director of Natural Resources at GE Energy Financial Services.
GE Energy Financial Services has invested in 30,000 miles of natural gas pipelines in North America as well as in gas storage, gathering and processing systems, floating production, storage and offloading (FPSO) vessels, offshore drilling assets, and oil and gas reserves.
Goldman, Sachs & Co. and SMH Capital Inc. acted as financial advisors to ATP in connection with the transaction.
ATPG - weeee time... over 20% was short as of a couple days ago... squeeeeeeeeeeeeeeeeze
20 day MA at 3.91 - 30 day MA at 4.33 - more than 20% short.... SQUEEEEEEEEEEEEEEEZE
ATPG Huge News and Chart
GE to Invest $150 Million in Partnership with ATP for Domestic Oil and Gas Production Unit in Gulf of MexicoFebruary 27, 2009 8:30 AM ET advertisement
Article tools E-mail this article Print-friendly version Discuss this articleStocks mentioned in this articleATP Oil & Gas Corporation (ATPG) Stock Quote, Chart, News, Add to WatchlistGeneral Electric Co (GE) Stock Quote, Chart, News, Add to WatchlistRelated newsWeak health care stocks drag Wall Street lowerGold prices lose more ground, but pull off lowsDollar falls as governments plan to help banksOil prices rise sharply for second day
All Business Wire newsGE Energy Financial Services, a unit of GE GE, has agreed to invest $150 million in a partnership with Houston-based ATP Oil & Gas Corporation ATPG which will own and operate a floating oil and gas production unit in deepwater Gulf of Mexico. Subject to completion of customary closing conditions, GE Energy Financial Services will invest $150 million for a 49 percent limited partnership stake, its first investment in a floating oil and gas production facility. ATP Oil & Gas Corporation will hold the remaining 51 percent stake and will serve as managing partner.
Covering an area the size of a football field 80 miles south of New Orleans in the Gulf of Mexico, the unit, ATP Innovator, processes up to 20,000 barrels of oil per day and 100 million cubic feet per day of natural gas for supply via pipeline to the US market. The unit has been in operation since March 2006 and produces ATP reserves. The partnership plans to process additional reserves from a third party producer by 2010.
“Our partnership with GE Energy Financial Services, especially in today’s troubled economic times, will ensure continued production of much-needed domestic oil and natural gas, and will allow ATP to maintain our development program,” said T. Paul Bulmahn, Chairman and CEO of ATP. “We depend on investors like GE, which has the financial strength, energy expertise and long-term vision necessary for an investment of this magnitude.”
ATP purchased and converted the unit from a drilling semi-submersible rig into a floating production facility in 2005. As a converted unit with existing platform infrastructure and pipeline access, the ATP Innovator offers the most cost-effective way to process reserves in this area of the Gulf. As a deepwater unit, the ATP Innovator is able to process increasingly abundant oil and gas from deepwater sources and can be moved to process oil and gas from new fields. Since ATP’s inception in 1991, the company has turned 98 percent of its undeveloped, non-producing properties into producing oil and gas reserves.
“The combination of ATP’s demonstrated operational capabilities, GE Energy Financial Services’ energy expertise and capital, and the production unit’s strategic location makes this a strong partnership, well positioned for growth,” said James F. Burgoyne, Managing Director of Natural Resources at GE Energy Financial Services.
GE Energy Financial Services has invested in 30,000 miles of natural gas pipelines in North America as well as in gas storage, gathering and processing systems, floating production, storage and offloading (FPSO) vessels, offshore drilling assets, and oil and gas reserves.
Goldman, Sachs & Co. and SMH Capital Inc. acted as financial advisors to ATP in connection with the transaction.
Daily
Blast off... got back in the other day at 2.87
ATPG
About to break through ascending triangle on 10 min. 3.15 will send it higher
Daily
ATPG
Daily
10 min. - Ascending triangle
ATPG CHARTS- 02/25
Daily
10 min. - Ascending triangle
30 day MA at 34.85... break that and down we gooooooooooo
ATPG
Daily
10min
CHARTS ATPG - -
I bailed on the way down and got back in today at 2.87... Charts looks good...
Daily
10min
ATPG reversal - big volume today
The market wouldn't have liked that press conference had it been during hours... Obama is acting like this is all some big joke.